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Broker Protection Period for KapStone Paper and Packaging Corporation's Warrants

NORTHBROOK, Ill., Aug. 4 /PRNewswire-FirstCall/ -- KapStone Paper and Packaging Corporation (Nasdaq: KPPC) confirmed today that it will provide a three day broker protection period in connection with its warrants trading under the ticker symbol "KPPCW" on the NASDAQ exchange.

Warrant holders have until 4:00 PM ET on Monday, August 17, 2009 to execute their warrants, and the warrant holders' brokers have until 4:00 PM ET on Thursday, August 20, 2009, to complete the transaction with the transfer agent, American Stock Transfer.

The Company had previously announced that the expiration date for its approximately 37 million outstanding warrants, dated as of August 19, 2005, has been extended through Monday, August 17, 2009. The original expiration date was set for Saturday, August 15, 2009. Each warrant entitles the holder to exchange one warrant plus $5 for one share of Kapstone Paper and Packaging Corporation common stock.

Among the warrants expiring on August 17, 2009, are those warrants comprising a part of the units of the Company trading on the Over-the Counter Bulletin Board under the symbol "KPPCU.OB." Each unit consists of one share of common stock of the Company and two warrants.

About the Company

Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is a leading North American producer of unbleached kraft paper products and linerboard. The Company is the parent company of KapStone Kraft Paper Corporation which includes paper mills in Roanoke Rapids, NC and North Charleston, SC, a lumber mill in Summerville, SC, and five chipping mills in South Carolina. The business employs approximately 1,550 people.

SOURCE KapStone Paper and Packaging Corporation
CONTACT: Andrea K. Tarbox, Vice President and Chief Financial Officer of KapStone Paper and Packaging Corporation, +1-847-239-8812
Web Site: http://www.kapstonepaper.com
(KPPC KPPCU.OB KPPCW)