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FIBREBOARD ANNOUNCES COMMISSION-FREE ODDLOT SELLING PROGRAM

 FIBREBOARD ANNOUNCES COMMISSION-FREE ODDLOT SELLING PROGRAM
 CONCORD, Calif., Dec. 3 /PRNewswire/ -- Fibreboard Corp. (AMEX: FBD) has announced a unique, commission-free program being made available to all its stockholders who own oddlots of fewer than 100 shares of Fibreboard Common Stock. Through this program eligible participating holders may choose to sell all their shares without paying any brokerage commission and automatically donate their cash proceeds to one of six nationally recognized charitable organizations which include American National Red Cross, American Cancer Society, American Heart Association, Corporation for Public Broadcasting, Nature Conservancy, and United Way of America. They may alternatively elect to receive the cash proceeds themselves.
 The offer has commenced and eligible stockholders of record as of Nov. 22, 1991 will have the opportunity to participate until the expiration of the program at 5 p.m. EST, Dec. 23, 1991. All shares will be gathered in round lots and sold as soon as possible in the open market. The price to be paid for the shares will be based on weighted average pricing.
 Since its spin off from Louisiana-Pacific Corp. in 1988, Fibreboard's management has realized that many of its stockholders fall into this oddlot category. John Roach, Fibreboard's chairman and chief executive officer states, "This plan is being offered in response to inquiries by Fibreboard's oddlot stockholders who have requested assistance in selling their small numbers of shares in the open market. In many cases the minimum brokerage commission, usually about $40, actually exceeds the value of the shares to be sold. We have also received requests from stockholders who have asked us to assist them in donating their shares to charity. We felt that by pooling any donations made by our stockholders, a more significant and meaningful contribution could be made to the named charities. This program would serve to reduce the high cost of servicing thousands of stockholder accounts each year while providing a means for these stockholders to sell or donate the proceeds to charity."
 Fibreboard has retained Shareholder Communications Corp. as the program manager. Neither Fibreboard nor the program manager make any recommendations as to whether or not stockholders should participate in the program. Stockholders are encouraged to review the information when it is received and determine if this opportunity fits their needs.
 Fibreboard Corp., headquartered in Concord, manufactures lumber, hardwood plywood, moulding and millwork, agricultural container components, precision molded industrial insulation and fire-proofing materials. It also owns and operates Northstar-at-Tahoe, a ski resort and year-round vacation and conference center in California.
 -0- 12/3/91
 /CONTACT: Steve DeMaria of Fibreboard, 510-686-0700/
 (FBD) CO: Fibreboard Corp. ST: California IN: CST SU: OFR


DG -- SF003 -- 8973 12/03/91 19:06 EST
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Publication:PR Newswire
Date:Dec 3, 1991
Words:445
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