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ABITIBI-PRICE INC. ANNOUNCES BOARD CHANGES

 TORONTO, Jan. 29 /PRNewswire/ -- Abitibi-Price Inc. (NYSE: ABY) today announced a series of changes in the membership of its board of directors.
 Four board members have resigned as Directors of Abitibi-Price Inc. They are Albert Reichmann, Paul Reichmann and Ralph Reichmann, who have served as directors since 1981, and G.I. (Gil) Newman who became a director in 1982.
 The resignations follow the recent approval of O & Y's Plans of Compromise and Arrangement by various classes of secured and unsecured creditors of Olympia & York Development Limited.
 Abitibi-Price Inc. expects to announce the appointment of new directors at its Board meeting in February.
 Abitibi-Price, a major competitor in the global forest industry, is a producer of newsprint, uncoated groundwood papers and coated papers. The company is a prominent distributor of office and information-processing products, as well as a converter of industrial goods and products for home, school and office use.
 -0- 1/29/93
 /CONTACT: Colin Fraser, treasurer, 416-369-6704; Robert J. Tait, manager-investor relations, 416-369-6789, both of Abitibi-Price Inc./
 (ABY)


CO: Abitibi-Price Inc. ST: Ontario IN: PAP SU: PER

TS -- NY085 -- 0934 01/29/93 16:35 EST
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Publication:PR Newswire
Date:Jan 29, 1993
Words:187
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