1. MeadWestvaco
UBS Global Paper & Forest Products Conference
John A. Luke, Jr. – Chairman & Chief Executive Officer
September 16, 2008

2. Forward-looking Statements
Certain statements in this document and elsewhere by management of the company that are neither reported
financial results nor other historical information are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business
outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans,
contingencies and contemplated transactions of the company. Such forward-looking statements are not
guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors
which may cause or contribute to actual results of company operations, or the performance or achievements of
each company, or industry results, to differ materially from those expressed or implied by the forward-looking
statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks,
uncertainties, and other factors that could cause or contribute to actual results differing materially from those
expressed or implied for the forward-looking statements include, but are not limited to, events or
circumstances which affect the ability of MeadWestvaco to realize improvements in operating earnings from
the company’s ongoing cost reduction initiatives; the ability of MeadWestvaco to close announced and pending
transactions, including divestitures; the reorganization of the company’s packaging business units; competitive
pricing for the company’s products; changes in raw materials pricing; energy and other costs; fluctuations in
demand and changes in production capacities; changes to economic growth in the United States and
international economies; government policies and regulations, including, but not limited to those affecting the
environment and the tobacco industry; the company’s continued ability to reach agreement with its unionized
employees on collective bargaining agreements; the company’s ability to execute its plans to divest or
otherwise realize the greater value associated with its forestlands; adverse results in current or future litigation;
currency movements; and other risk factors discussed in the company’s Annual Report on Form 10-K for the
year ended December 31, 2007, and in other filings made from time to time with the SEC. MeadWestvaco
undertakes no obligation to publicly update any forward-looking statement, whether as a result of new
information, future events or otherwise. Investors are advised, however, to consult any further disclosures
made on related subjects in the company’s reports filed with the SEC.

3. Key Investment Considerations
Business transformation delivering better performance
Packaging business well-positioned to capture global
growth opportunities and expand margins
Strong financial position helping to fuel profitable growth
Land business delivering new, sustainable cash flow

4. MWV’s Transformation
2007
2003
Strategic packaging
Commodity supplier
partner
Industrial & Consumer
Packaging Consumer focus
Packaging and Fine Papers
51%
Innovative solutions
Highly cyclical
Global balance
Results: Sales Growth Operating Cash ROIC

5. MWV Today: A Global Leader in Packaging
and Packaging Solutions
MWV total sales MWV Packaging sales by
by segment 1H 2008 major locations 1H 2008
- $3.2 Billion* - - $2.4 Billion* -
Non-U.S.
Developed
Consumer North
Other MWV
America
Packaging
Businesses
Emerging
Markets**
* Excludes N. Charleston Kraft sales
** Africa, India, China, E. Europe, Central & South America, Emerging Asia Pacific

6. Growth Outlook in Targeted Markets
Global % Annual
Developed Emerging
Outlook Growth
Markets Markets
6% - 8%
Healthcare
Personal Care
3% - 5%
and Beauty
Home and
2% - 4%
Garden
Food and 1% - 3%
Beverage
0% - 1%
Tobacco

7. Focused on Key Profit Improvement Drivers
Action
Lever
Innovation – developing value-added
offerings
Emerging Markets – expanding with existing
Growth customers; making select investments
Pricing – combating input cost inflation
Manufacturing – optimizing footprint and
reducing waste
Productivity Sourcing & Supply Chain – leveraging
outsourcing; improving logistics
SG&A – variabilizing cost structure
Land sales – segmenting and enhancing
and realizing values above timber
Land Business
Development – entitling and master planning
most valuable lands

8. Packaging Innovation
10% of 1H 2008 sales
from innovative
products*
Focus on personal care and healthcare markets
45 new products and product enhancements launched in 2008
Shellpak prescription drug solution
Natralock plastic clam-shell replacement solution
Keltec airless & foamer dispensers
CNK® large-glass corrugated replacement solution
Growing new product pipeline at Center for Packaging Innovation
* Cumulative sales of new products introduced between 2006 - 2008

9. Investing to Capture Global Growth
New
New press New, larger
beverage
for high-quality packaging
line
packaging facility
Wilmington, NC
Bydgoszcz, PL Moscow
Healthcare
Packaging J.V. New primary
w/ Bilcare Ltd. packaging
St. Petersburg, FL line
Wuxi
Expanded pine
chemicals
New consumer
refinery
paperboard
DeRidder, LA
service center
Wuxi
New (6th) box
plant
New
Aracatuba
activated
carbon plant
Pine chemicals Fujian
Refinery JV
w/ Chemserve
Lages
- 1H 2008 total EM* Revenues +22% -
* Africa, India, China, E. Europe, Central & South America, Emerging Asia Pacific

10. Pricing
Aggressively Driving Price to Offset Rapid Input Cost Inflation
$ millions
$70 $140
Year-over-Year Increase
$60 $120
$50 $100
$40 $80
$30 $60
$20 $40
$10 $20
$0 $0
Q1-06 Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08
Price/Mix Energy/Materials/Freight $Oil (Avg.)

11. Productivity Priorities
Increase manufacturing efficiency
Reduce waste and rejection rates
–
– Utilize cost-effective formulations
Leverage strategic sourcing
Outsource non-strategic elements
–
– Focus on insights, designs, innovation
Supply-chain initiatives
Improve freight & warehousing network
–
Asset optimization
Consolidate capacity to high-quality, low-
–
cost locations
11

12. MWV Land Strategy Accomplishments
Last 365 Days
Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008
• Announced sale • Completed GA & AL • Unveiled East • Appointed VP of • Announce CDLM as new
agreement for GA & AL forestlands sale Edisto preliminary Planning and reporting segment
forestlands and for WV • Commenced $400 Master Plan Entitlement • Commence enhanced
forestlands mil. share repurchase • Commenced • Completed sale of small-tract marketing
• Refined East Edisto w/ forestland sale planning and 7,300 acres of small- program
Master Plan based on proceeds entitlement on 4 tract sales for avg. • Added 10,000 acres to
community input commercial & price of $3,300/acre the small-tract sales
• Completed WV industrial projects • Moved 60,000 acres pipeline
forestlands sale into sales pipeline
12

13. Why Invest in MWV?
Successfully transforming company to capture profitable
growth in global packaging markets
Good progress on initiatives to expand margins
Strong financial flexibility
Land strategy on-track to deliver sustainable cash flow;
maximizing shareholder value