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ALCO STANDARD NAMES NEW CHIEF EXECUTIVE OFFICER

 VALLEY FORGE, Pa., Aug. 10 /PRNewswire/ -- Alco Standard Corporation (NYSE: ASN) announced that its board of directors acted today to name John E. Stuart, 49, as president and chief executive officer and as a director of the corporation.
 Ray B. Mundt, who has reached his 65th birthday, is stepping down as CEO but will continue as chairman. Prior to joining Alco as president and CEO of Alco Office Products in 1985, Stuart held sales, marketing and senior management positions with IBM, Ricoh and Royal Business Machines.
 Mundt stated, "Last year I made known to the Board my personal interest and desire to begin an orderly management transition at age 65, and I am delighted that the board has selected John Stuart to be my successor. John's record of proven performance as president and CEO of Alco Office Products, coupled with his strong leadership skills, makes him extremely well qualified to assume his new responsibilities. Alco is fortunate to have a man with John's abilities and qualifications become the chief executive officer of the corporation."
 The company also announced that the board has accepted the resignation of Richard C. Gozon as president and chief operating officer and as a director of the corporation. This resignation reflects certain philosophical differences concerning the future growth and direction of the company.
 Mundt said, "Dick Gozon has served Alco with dedication and loyalty since he joined the company over 20 years ago. Under his leadership Alco has grown and prospered, as we have built the largest and most successful paper and office products distribution and marketing company in North America. We will miss his significant and effective contributions, and extend to him our best wishes for every future success."
 Alco Standard Corporation, headquartered in Valley Forge, is a publicly owned paper and office products distribution company.
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 /CONTACT: David B. Kirkland of Alco Standard, 215-296-8000, or, home, 215-542-9025/
 (ASN)


CO: Alco Standard Corporation ST: Pennsylvania IN: PAP SU: PER

JM-MJ -- PH011 -- 1178 08/10/93 12:01 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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