1040599--12/29/2008--NEENAH

related topics

{stock, price, operating}

{debt, indebtedness, cash}

{stock, price, share}

{condition, economic, financial}

{cost, contract, operation}

{cost, regulation, environmental}

{acquisition, growth, future}

{property, intellectual, protect}

{cost, operation, labor}

{provision, law, control}

{operation, natural, condition}

{regulation, change, law}

{personnel, key, retain}

{product, liability, claim}

{product, market, service}

{operation, international, foreign}

We may be adversely affected by the current economic environment. The terms of Neenah s debt impose restrictions on us that may affect our ability to successfully operate our business. In addition, we may violate applicable financial covenants in our debt agreements if the unused availability under our 2006 Credit Facility falls below $15.0 million. Availability of net operating losses may be reduced by a change in control. Our market share may be adversely impacted at any time by a significant number of competitors. International economic and political factors could affect demand for products which could impact our financial condition and results of operations. Increases in the price or interruptions in the availability of raw materials could reduce our profits. We may incur potential product liability and recall costs. Litigation against us could be costly and time consuming to defend. The departure of key personnel could adversely affect our operations. The seasonal nature of our business could impact our business, financial condition and results of operations. We face the risk of work stoppages or other labor disruptions that could impact our results of operations negatively. The nature of our business exposes us to liability for violations of environmental regulations and releases of hazardous substances. Failure to raise necessary capital could restrict our ability to operate and further develop our business. We may not achieve the expected benefits of Neenah s new mold line on a timely basis or at all. If we are unable to integrate acquired businesses, that may adversely affect operations. Our controlling stockholders may have interests that differ from the interests of other investors. Terrorist attacks could adversely affect our results of operations, our ability to raise capital or our future growth. Our substantial indebtedness could adversely affect our financial health. Despite our current substantial indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt. This could intensify the risks associated with our substantial leverage. To service our indebtedness, we will require a significant amount of cash. Our ability to generate cash depends on many factors beyond our control. Recent market trends may require additional funding for our pension plans. Risks Relating to Our Common Stock There is limited history of public trading for our shares and an active trading market for our common stock may not develop. Our charter documents contain provisions that may discourage, delay or prevent a change of control. We do not expect to pay any dividends for the foreseeable future. The price of our common stock may fluctuate significantly, which could lead to losses for stockholders. Substantial sales of our common stock by our stockholders could depress our stock price regardless of our operating results. If equity research analysts do not publish research or reports about our business or if they issue unfavorable commentary or downgrade our common stock, the price of our common stock could decline. The availability of shares for issuance in the future could reduce the market price of our common stock. We will incur significant increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives.

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1040599--12/29/2008--NEENAH_ENTERPRISES