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JAMES RIVER CORPORATION FILES REGISTRATION STATEMENT WITH SEC

 RICHMOND, Va., Sept. 15 /PRNewswire/ -- James River Corporation (NYSE: JR) today filed a registration statement with the Securities and Exchange Commission (SEC) for a shelf registration of up to $400 million of debt securities to be issued from time to time in the future. The company stated that at least $300 million of the net proceeds of the offering will be used to repay outstanding revolving credit borrowings, commercial paper, or short-term borrowings or for general corporate purposes, which may include capital expenditures and working capital requirements. The remaining $100 million of proceeds may be applied toward James River's previously disclosed obligation to purchase all of the ownership interest in Diamond Occidental Forest Inc. ("Diamond") not already held by James River for approximately $200 million in November 1993. Proceeds from the sale of certain Diamond timberlands, expected to total $100 million, will also be applied toward this obligation.
 James River Corporation, headquartered in Richmond, Va., is a marketer and manufacturer of consumer products, food and consumer packaging, and communications papers. These product lines include brands such as Quilted Northern bathroom tissue, Brawny paper towels, Dixie cups and plates, Eureka! recycled copy paper, Quilt-Rap sandwich wrap, and Qwik Crisp microwave packaging. For the year which ended on December 27, 1992, the company had sales of $4.7 billion.
 -0- 9/15/93
 /CONTACT: Celeste Gunter of James River, 804-649-4307/
 (JR)


CO: James River Corporation ST: Virginia, Wisconsin IN: PAP SU:

KD-IH -- DC023 -- 2254 09/15/93 12:46 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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