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GEORGIA-PACIFIC HOLDS PLYWOOD PRICES TO AUGUST 31 LEVELS

 GEORGIA-PACIFIC HOLDS PLYWOOD PRICES TO AUGUST 31 LEVELS
 ATLANTA, Sept. 4 /PRNewswire -- Georgia-Pacific Corp. (NYSE: GP) today announced that in addition to its unprecedented announcement earlier today on plywood pricing in hurricane-damaged areas, effective immediately through the end of September, prices nationwide on all its southern pine sheathing grade plywood will not exceed the levels in effect August 31.
 The pricing policy will apply to sheathing grade plywood manufactured by Georgia-Pacific, and does not include plywood purchased by the company for resale.
 "Georgia-Pacific recognizes that because of the hurricane and restricted supply, there has been much panic buying of sheathing plywood nationwide," said A.D. Correll, president and chief operating officer. "Because of these unprecedented circumstances and Georgia-Pacific's commitment to serve our customers around the country, we have determined that this action is the right thing to do at this time. We anticipate, however, that supplies will continue to be restricted and demand will remain great as we recover from one of our nation's worst natural disasters. Plywood supply and prices throughout the United States already were tight because of existing demand levels prior to the hurricane and because of environmentally driven plant closures in the Pacific Northwest, which have reduced plywood capacity nationwide by approximately 20 percent in the last five years."
 "During this period of extraordinary demand we will strive to supply our long-term customers with the sheathing plywood they need. Supplies throughout the industry, however, are low," Correll said. "With our plants already running at capacity, we may not be able to meet all our customers' demands during the next few weeks."
 "Georgia-Pacific fully supports free markets and auction-based pricing of commodity products. We recognize, however, that the uncertainty of the current market conditions makes it difficult for our customers to conduct business in a normal fashion," he said. "We hope this temporary action will help our customers plan for the immediate future with greater confidence."
 -0- 9/4/92
 /CONTACT: Sheila Weidman of Georgia-Pacific, 404-521-4732, or, home, 404-594-9628/
 (GP) CO: Georgia-Pacific Corporation ST: Florida, Louisiana IN: PAP SU:


BR -- AT004 -- 7033 09/04/92 15:37 EDT
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Publication:PR Newswire
Date:Sep 4, 1992
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