Correcting figure in financial table of Westvaco earnings release issued Monday, Nov. 18.

--(BUSINESS WIRE)--November 21, 1996--

In BW0616-11/18 (WESTVACO)(W) reports fiscal 1996 sales and earnings, in the first table, under Twelve Months, Net cash used in investing activities, first column (1996) should read xxx (458,182) sted (428,182).

The corrected table follows: -0-


Consolidated statement of cash flows
In thousands
                                                  Twelve months ended
                                                        Oct. 31
                                                  1996           1995
Cash flows from operating
 activities:

Net income                                       $212,156      $280,836

Adjustments not affecting cash:
  Provision for depreciation and
  amortization                                   $240,411      $230,306
  Provision for deferred income taxes              49,243        74,057
  Other, net                                      (49,785)      (24,204)
Net changes in assets and liabilities              61,924       (44,033)
Other, net                                          7,869         5,682
       Net cash provided by operating activities  521,818       522,644


Cash flows from investing activities:
   Additions to plant and timberlands            (521,598)     (290,053)

   Other, net                                      63,416        10,845
       Net cash used in investing activities     (458,182)     (279,208)

Cash flows from financing activities:
   Proceeds from issuance of common stock           5,585        13,237
   Proceeds from issuance of debt                  46,357        96,214
   Dividends paid                                 (89,539)     (77,929)
   Repayment of debt                              (62,125)    (201,172)
       Net cash used in financing activities:     (99,722)    (169,650)


Effect of exchange rate changes on cash              (369)       3,034
   (Decrease) increase in cash and marketable
   securities                                     (36,455)      76,820

Cash and marketable securities:
    At beginning of period                        151,823       75,003
    At end of period                              115,368      151,823

CONTACT: Westvaco, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of

William William, crown prince of Germany
William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack P. Fuller III, 212/318-5250

Roger A. Holmes, 212/318-5288

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Publication:	Business Wire
Article Type:	Correction Notice
Date:	Nov 21, 1996
Words:	257
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