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GEORGIA-PACIFIC TO ADOPT FAS NO. 109

 ATLANTA, Jan. 8 /PRNewswire/ -- Georgia-Pacific Corp. (NYSE: GP) announced today that it will adopt Financial Accounting Standard Number 109, "Accounting for Income Taxes," effective Jan. 1, 1992.
 Adoption of this standard will result in a one-time, after-tax charge of $55 million (64 cents per share) to 1992 earnings. Pre-tax earnings for 1992 will include an additional charge for depreciation and depletion of $69 million, which the company expects to be offset by a reduction in income tax expense of approximately the same amount. The company expects a similar impact in subsequent years. Operations for the first three quarters of 1992 will be restated to reflect the change in accounting. Cash flow in 1992 and subsequent years will not be affected. The corporation adopted Financial Accounting Standard Number 106, requiring the accrual of post-retirement benefits, in 1991.
 -0- 1/8/93
 /CONTACT: Sheila Weidman of Georgia-Pacific, 404-521-4732/
 (GP)


CO: Georgia-Pacific Corporation ST: Georgia IN: PAP SU:

RA-BN -- AT005 -- 3153 01/08/93 16:19 EST
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Publication:PR Newswire
Date:Jan 8, 1993
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