Further to the announcement on 11 November 2011 relating to the disposal of its hygiene business, the Company announces today that the transaction completed as expected on 30 December 2011.

Fiberweb plc also announces today that Daniel Abrams, Chief Financial Officer since February 2008, will leave the Group at the end of March 2012. Dan joined the Group at the earlier stages of its turnaround programme and was a key member of the management team that drove steady performance improvement during 2008-10 and accomplished the transformational sale of Fiberweb’s hygiene business. Following the sale of the hygiene business, the Group will become smaller and more focused.

Kate Miles, currently Finance Director of Fiberweb’s hygiene division, will be promoted to Group Finance Director, effective on Dan’s departure. Kate joined Fiberweb in September 2006 as Group Financial Controller and was promoted to her current position in October 2010. Kate qualified as a chartered accountant with Ernst & Young and subsequently worked in positions of increasing responsibility at Reed Elsevier plc and First Technology Plc.

Malcolm Coster, Chairman Fiberweb plc said, “Fiberweb will start 2012 as a fundamentally transformed business, with a new focus, a strong balance sheet and strong potential for further operational improvement and strategic development. It is an appropriate time to ensure that the right leadership is in place for the next phase in the development of the business. Dan has been a key driver of progress in the past four years and the Board thanks him for his efforts. Kate brings a wealth of experience and detailed operational focus to the role and we look forward to her contribution.”

There are no disclosures required in respect to Kate Miles’ appointment under paragraph 9.6.13 (2) - (6) of the Listing Rules.