RICHMOND, VA (June 20, 2008) – MeadWestvaco Corp. (NYSE: MWV) announced that it has completed its $400 million accelerated share repurchase program. As a result of this program, which began in November 2007, the company retired 14 million shares at an average price of $28.51 per share, representing 7.5 percent of the total shares outstanding when the program commenced. The company expects to have about 171 million shares issued and outstanding as of June 30, 2008.

The share repurchase program was funded with proceeds from sales of company-owned and leased forestland in Alabama, Georgia and West Virginia that closed in the third and fourth quarters of 2007.

About MWV

MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s most-admired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries. The company's businesses include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 24,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the fourth consecutive year. For more information, please visit www.mwv.com.

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