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ABITIBI-PRICE UNAFFECTED BY OLYMPIA & YORK ACTION

 ABITIBI-PRICE UNAFFECTED BY OLYMPIA & YORK ACTION
 TORONTO, May 15 /PRNewswire/ -- Abitibi-Price (NYSE: ABY) today


affirmed that last night's order relating to Olympia & York (O&Y) under the Companies Creditors Arrangement Act would have no affect on the business, affairs and financial position of Abitibi-Price.
 The relationship between Abitibi-Price and its bankers, customers, suppliers and employees is unaffected by the order. The ownership of the controlling interest in the company remains unchanged.
 Abitibi-Price is a publicly owned company with 82 percent of its shares held by O&Y.
 Abitibi-Price, a world-class competitor in the forest products industry, is a producer of newsprint, uncoated groundwood papers, coated papers and building products. The company is a major converter and distributor of paper and other information-related products.
 -0- 5/15/92
 /CONTACT: Robert J. Tait, 416-369-6789, or Eileen A. Mercier, senior VP-finance, 416-369-6718, both of Abitibi-Price/
 (ABY) CO: Abitibi-Price ST: Ontario IN: PAP SU:


CK -- NY048 -- 0688 05/15/92 11:09 EDT
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Publication:PR Newswire
Date:May 15, 1992
Words:159
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