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GEORGIA-PACIFIC RECEIVES TERMINATION NOTICE IN SALE OF ROOFING MANUFACTURING BUSINESS

 ATLANTA, July 23 /PRNewswire/ -- Georgia-Pacific Corp. (NYSE: GP) announced that it received a notice this week from G-I Holdings Inc. and GAF Roofing Manufacturing Corp. stating that they were terminating the previously announced definitive agreement with Georgia-Pacific Corp. for the purchase by GAF Roofing Manufacturing Corp. of Georgia-Pacific's roofing manufacturing business.
 As previously announced, Georgia-Pacific had expected the sale to result in after-tax cash proceeds of approximately $45 million and an after-tax gain of approximately $24 million (28 cents per share).
 Georgia-Pacific will continue to operate its roofing manufacturing business as usual while evaluating its legal remedies and business alternatives.
 -0- 7/23/93
 /CONTACT: Sheila Weidman of Georgia-Pacific, 404-521-4732/
 (GP)


CO: Georgia-Pacific Corporation; G-I Holdings Inc.; GAF Roofing
 Manufacturing Corp. ST: Georgia IN: PAP SU:


RA-BN -- AT003 -- 5030 07/23/93 09:25 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:135
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