8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 19, 2003

Wellman, Inc.
(Exact name of registrant as specified in its charter)

Delaware	1-10033	04-1671740
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

595 Shrewsbury Avenue, Shrewsbury, NJ
(Address of principal executive offices) 07702
(Zip Code)

Registrant's telephone number, including area code 732-212-3300

 Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits

99.1 Reconciliation of net earnings from continuing operations to net earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for certain items as defined in the Company's Revolving Credit Facility.

Item 12. Results of Operations and Financial Conditions

The Registrant is in the process of obtaining additional financing including refinancing of its synthetic lease and other obligations that mature within the next year. Financial institutions that may be providing this financing believe that earnings before interest, taxes, depreciation and amortization (EBITDA) is a key financial measure that impacts the amount of debt that is appropriate for the Company and impacts the pricing of that debt. Financial institutions base their decisions on both EBITDA from continuing operations and EBITDA from continuing operations adjusted by certain items as defined in its Revolving Credit Facility. Exhibit 99.1 provides a reconciliation of net earnings from continuing operations to net earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for certain items as defined in the Company's Revolving Credit Facility.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

December 19, 2003

Wellman, Inc.

By: /s/Mark J. Ruday
Mark J. Ruday
Vice President, Chief Accounting Officer and Controller

EX-99.1 CHARTER

EXHIBIT 99.1

Reconciliation of Net Earnings From Continuing Operations to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), Adjusted for Certain Items as Defined in the Company's Revolving Credit Facility

($ in millions)	2000	2001	2002	Twelve Months Ending 9/30/03
Net earnings from continuing operations	$ 35	$ 13	$ 26	$ 4
Income tax expense	14	4	9	2
Earnings from continuing operations before income taxes	49	17	35	7
Interest expense	18	18	10	10
Operating income	67	35	46	16
Depreciation and amortization expense from continuing operations	62	61	56	53
EBITDA from continuing operations	129	96	101	69
Adjustments for certain items as defined in the Company's Revolving Credit Facility:
Restructuring charge (benefit)	(1)	--	--	2
Property damage and lost profits from production outage, net of insurance proceeds	- --	4	- --	- --
Bad debt expense	--	--	4	7
Legal costs related to the Department of Justice investigation of the staple fiber industry	- --	- --	5	6
EBITDA from continuing operations, adjusted for certain items as defined in the Company's Revolving Credit Facility described above	$ 128 =====	$ 100 ====	$ 110 ====	$ 84 ====