anti-trust class action suit settled.

Anti-trust class action suit settled. Weyerhaeuser, Federal Way, Washington, USA, announced that it, International Paper (I-P), Stamford, Connecticut, and Georgia-Pacific, Atlanta, Georgia, have agreed with plaintiffs to settle an antitrust class action filed in 1999 in federal court in the Eastern District of Pennsylvania. The plaintiffs--purchasers of corrugated sheets and containers from October 1993 through November 1995-alleged that these three companies and other integrated manufacturers had conspired to increase prices.

The settlement still requires court approval. It outlines that the three companies will pay a total of US$ 68 million to settle claims of class members. I-P's share of the total settlement is approximately US$ 24 million. That figure includes the share of the settlement assessed to Union Camp that IP acquired in 1999. Georgia-Pacific's share of the proposed settlement--approximately US$ 21 million--will result in an after-tax charge of approximately US$ 13 million (US$ 0.05 per share) to third quarter 2003 earnings. Weyerhaeuser will pay the remainder of the settlement resulting in an aftertax charge of US$ 15 million (US$ 0.07 per share) in the third quarter.