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BOISE CASCADE'S 7.5 MILLION DEPOSITARY SHARES PRICED AT $22.875 PER SHARE

 BOISE CASCADE'S 7.5 MILLION DEPOSITARY SHARES PRICED
 AT $22.875 PER SHARE
 BOISE, Idaho, Jan. 21 /PRNewswire/ -- Boise Cascade Corp. (NYSE: BCC) announced today that the company's issue of 7.5 million depositary shares was priced at $22.875 each.
 Due to strong investor demand, the size of the issue was increased from an originally planned 7.0 million depositary shares.
 Each depositary share represents one-tenth of a share of conversion preferred stock, Series E -- Yield Enhanced Stock or YES (SM). The depositary shares were priced with an annual dividend of $1.79 per share, initially yielding 7.825 percent. On Jan. 15, 1995, each depositary share will automatically convert into one Boise Cascade common share.
 Each depositary share is subject to redemption by the company at any time prior to the mandatory conversion date in exchange for Boise Cascade common shares having a market value initially equal to $34.45, declining to $30.88 after Nov. 15, 1994.
 The underwriters, led by Goldman, Sachs & Co., may purchase up to an additional 1,125,000 depositary shares to cover overallotments, if any.
 Boise Cascade Corp. is an integrated paper and forest products company headquartered in Boise, Idaho, with operations located in the United States and Canada. The company manufactures and distributes paper and paper products, office products, and building products and owns and manages timberland to support these operations.
 -0- 1/21/92
 /CONTACT: Vincent Hannity of Boise Cascade, 208-384-6390, or after hours, 208-345-8141/
 (BCC) CO: Boise Cascade Corp. ST: Washington IN: PAP SU:


LM -- SE011 -- 2149 01/21/92 18:27 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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