P. H. Glatfelter (“Glatfelter”) (NYSE:GLT) announced today that it has commenced a cash tender offer (the “Tender Offer”) for any and all of its $200 million outstanding aggregate principal amount of 7⅛% senior notes due 2016 (the “Notes”). In connection with the Tender Offer, Glatfelter is also soliciting consents for certain amendments to the indenture (the "Indenture") governing the Notes (the "Consent Solicitation"). The Tender Offer and the Consent Solicitation are being made upon the terms and subject to the conditions described in Glatfelter's Offer to Purchase and Consent Solicitation Statement dated September 19, 2012 (the "Offer to Purchase") and the related consent and letter of transmittal. The Tender Offer will expire at 11:59 p.m., New York City time, on October 17, 2012, unless extended or earlier terminated (the "Expiration Time"). Glatfelter reserves the right to terminate, withdraw or amend the Tender Offer at any time subject to applicable law. Holders who validly tender and do not withdraw their Notes on or prior to 5:00 p.m., New York City time, on October 2, 2012, unless extended or earlier terminated (the "Consent Payment Deadline"), will be eligible to receive the total consideration offered in the Tender Offer equaling $1,026.25 per $1,000 principal amount of the Notes, which includes a consent payment of $2.50 per $1,000 principal amount of the Notes. Holders who validly tender and do not withdraw their Notes after the Consent Payment Deadline, but on or prior to the Expiration Time, will be eligible to receive the tender offer consideration offered in the Tender Offer, which equals $1,023.75 per $1,000 principal amount of the Notes, but will not be eligible to receive the consent payment. In addition, holders whose Notes are purchased in the Tender Offer will receive accrued and unpaid interest on their purchased Notes up to, but not including, the applicable settlement date for such Notes.