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GEORGIA-PACIFIC 10-K REPORTS IN THAT CLASS ACTION SUIT WILL NOT HAVE MATERIAL ADVERSE EFFECT

 GEORGIA-PACIFIC 10-K REPORTS IN THAT CLASS ACTION SUIT
 WILL NOT HAVE MATERIAL ADVERSE EFFECT
 ATLANTA, March 16 /PRNewswire/ -- Georgia-Pacific Corp. (NYSE: GP) today announced that it had filed with the Securities and Exchange Commission (SEC) its Annual Report on Form 10-K for the year ended Dec. 31, 1991, which included disclosure stating the company's belief that a purported nationwide dioxin-related class action will not have a material adverse effect on the financial condition of the corporation.
 In the company's Current Report on Form 8-K, dated March 2, 1992, it was disclosed that on or about Feb. 28, 1992, a purported nationwide class action on behalf of all persons who live down river from a bleached kraft pulp mill had been filed. The suit alleges that the American Paper Institute and 33 paper manufacturers, including a subsidiary of Georgia-Pacific, had conspired to suppress information about the alleged harmful effects of dioxin. At that time, the company concluded that it was premature to assess its liability, if any, in this litigation.
 In its Form 10-K, Georgia-Pacific said that the allegations are without merit and that it intends to defend this action vigorously. The company now believes the outcome of this litigation will not have a material adverse effect on the consolidated financial condition of the company. As a result, Georgia-Pacific has decided to add an additional footnote expressing this belief to its 1991 financial statements, which were filed with the SEC in February. The company's independent public accountants have updated and reissued their unqualified opinion, dated Feb. 14, 1992, to include the additional disclosure.
 -0- 3/16/92
 /CONTACT: Gail Smith, 404-521-4738, or Sheila Weidman, 404-521-4732, both of Georgia-Pacific/
 (GP) CO: Georgia-Pacific Corporation ST: Georgia IN: PAP SU:


BN -- AT010 -- 8533 03/16/92 18:02 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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