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MANVILLE ANNOUNCES PAYMENT OF $252.1 MILLION OF TRUST BOND OBLIGATIONS

 DENVER, Aug. 25 /PRNewswire/ -- Manville Corp. (NYSE: MVL) today announced that it made a $252.1 million payment on its outstanding bond obligations to the Manville Personal Injury Settlement Trust (Trust) under the Bond Prepayment Agreement signed today. The prepayment consisted of $150 million of cash and the assignment to the Trust of $100 million, plus accrued interest, of currently outstanding Riverwood International Corp. (NYSE: RVW) notes held by Manville. This exchange occurred under an option contained in the Bond Prepayment Agreement.
 The carrying value of Manville's remaining outstanding bond obligations owed to the Trust following the prepayment is approximately $353 million.
 Manville is an international holding company with two principal subsidiaries -- wholly owned Schuller International Inc., and 80-percent owned Riverwood International. Products sold by Schuller International include insulation, reinforcements, filtration and building products. Riverwood International is an international packaging and paper products company. Founded in 1858, Manville and its subsidiaries employ approximately 16,000 people at more than 50 locations worldwide. Manville and its subsidiaries had approximately $3.6 billion in assets as of Dec. 31, 1992.
 -0- 8/25/93
 /CONTACT: Sharon L. Sweet of Manville, 303-978-4694/
 (MVL RVW)


CO: Manville Corp.; Riverwood International Corp. ST: Colorado IN: PAP CST SU:

BB -- DV006 -- 5881 08/25/93 16:52 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
Words:212
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