Wellman to Sell Polyester Filament Business

Wellman, Inc. (NYSE: WLM) announced today that it has agreed in principle to the sale of its polyester filament yarn business, located in Fayetteville, NC. The purchaser, Cedar Creek Fibers LLC, will commence operations at this facility on May 28, 2002.

The new business will be led by Christopher Schaller, a long-time textile executive with 37 years experience in the industry. "The Fayetteville plant has a reputation for manufacturing high quality product and providing excellent service. We look forward to building the business with our customers on this solid foundation," stated Mr. Schaller, President and CEO of Cedar Creek Fibers.

"We are very happy with this sale," stated Tom Duff, CEO of Wellman. "It provides the opportunity for many of our employees to remain at the Fayetteville facility in the industry they have served for so many years. It also provides the marketplace with a quality supplier of goods and services, with little or no interruption."

As part of this sale, Wellman has agreed to supply, for a period of one year, raw material feedstock to Cedar Creek, and to provide transition services in order to achieve a seamless transfer of ownership.

Wellman, Inc. manufactures and markets high-quality polyester products, including Fortrel(R) brand polyester textile fibers, and PermaClear(R) and EcoClear(R) brand PET (polyethylene terephthalate) packaging resin. The world's largest PET plastic recycler, Wellman utilizes a significant amount of recycled raw materials in its manufacturing operations.

Contact:

Judith Langan, Communications Director, Wellman +1-212-813-3857

Dennis Sabourin, Investment Relations, Wellman +1-732-212-3321