Breaking News

K-C Spin-Off Going Forward

November 11, 2004

Kimberly-Clark Corporation has released details of the spin-off of its North American paper and Canadian pulp operations which will create a new, publicly traded company called Neenah Paper Inc. K-C shareholders will receive one share of Neenah Paper common stock for every 33 shares of Kimberly-Clark common stock held as of Nov. 19, 2004. The spin-off is expected to be completed on Nov. 30, 2004, with 100% of the shares of Neenah Paper to be distributed to Kimberly- Clark shareholders. The spin-off will allow K-C to focus on its core health and hygiene brands.

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