MWV and The Rockefeller Group Break Ground for Distribution Space

Breaking ground at the planned Rockefeller Group Foreign Trade Zone/Charleston are, from left, Jim Hill, MeadWestvaco (MWV) Corporation vice president of Land Acquisitions and Sales; Ed Guiltinan, Rockefeller Group Development Corporation (RGDC) vice president of Marketing and Regional Director; Ken Seeger, president of MWV Community Development and Land Management Group; Caldwell Pinckney, Berkeley County Council; Larry Grooms state senator, South Carolina; and Dan Davis, Berkeley County Supervisor.

SUMMERVILLE, S.C., June 18, 2009 — MeadWestvaco Corporation’s (MWV) Community Development and Land Management Group and Rockefeller Group Development Corporation (RGDC) today began site work for the first distribution building to be developed in Rockefeller Group Foreign Trade Zone/Charleston. The newly formed joint venture also today began improving approximately one mile of the frontage road along I-26, Drop Off Drive.

Rockefeller Group Foreign Trade Zone/Charleston is planned for four buildings containing approximately 2.7 million square feet on 400 acres of industrial land near the I-26/Jedburg Road interchange in Berkeley County, South Carolina. The I-26/Jedburg Road area has been identified as a distribution cluster and will play an important role in the growth of the Port of Charleston, which is one of the top ten U.S. ports.

“Breaking ground is a significant step. We are excited to be working with local contractors, generating local jobs,” said Ed Guiltinan, vice president and regional director of RGDC. “The road improvements we are performing to Drop Off Drive will greatly enhance the access to the site. And, having a completed building pad will enable us to deliver a building much more quickly for prospective tenants.”

Banks Construction will be completing the road work, and Landmark Construction will be conducting the site preparation work. The joint venture estimates that approximately 45 jobs will be created to support the road construction and site preparation work.

“Commencing the road improvements and sitework demonstrates our belief in the Port of Charleston and the Charleston region,” said Ken Seeger, president, Community Development and Land Management Group. “We look forward to securing tenants and bringing additional jobs to the Low Country.”

The partners are seeking Foreign Trade Zone designation for the property. RGDC’s affiliate, Rockefeller Group Foreign Trade Zone Services (RGFTZS), is a leader in helping companies establish strategic trade processes to minimize costs and avoid delays associated with importing and exporting. Brandi Hanback, Managing Director for RGFTZS and Chairperson of the Board of Directors of the National Association of Foreign Trade Zones, is leading the designation process for the joint venture.

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 also 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 22,000 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 fifth consecutive year. For more information, please visit www.mwv.com.

About Rockefeller Group Development Corporation
RGDC is a national owner, developer, and manager of prestigious commercial real estate properties. Its developments include corporate headquarters, landmark properties, multi-use urban complexes, distribution facilities, suburban office and industrial parks, and foreign trade zones. RGDC, headquartered in Manhattan with regional offices in Arizona, California, Florida, and New Jersey is an operating company of The Rockefeller Group, developer of Rockefeller Center in New York City.