Meadwestvaco (MWV) 8-K MeadWestvaco Reports First Quarter Sales Growth of 4.4%; EPS of $0.02

1

Reconciliation of GAAP to Non-GAAP Net Income

($ in millions after-tax, except Per Share)

1st Quarter 2006

1st Quarter 2005

After-tax

Per Share

After-tax

Per Share

Net Income (Loss)

3

$        

0.02

$    

(6)

$       

(0.03)

$  

Discontinued Operations-Papers & related

23

0.11

Restructuring

2

0.01

3

0.01

Net Income (Loss) before Other Items

5

$        

0.03

$    

20

$      

0.09

$    

Less Gains on Sales of Forestlands

2

0.01

25

0.12

Net Income (Loss) before Other Items & Land Sales

3

$        

0.02

$    

(5)

$       

(0.03)

$  

Exhibit 99.2