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MANVILLE CORPORATION ASSERTS CANADIAN ASBESTOS SUITS WON'T HAVE A MATERIALLY ADVERSE IMPACT ON THE COMPANY'S FINANCIAL POSITION OR OPERATIONS

 DENVER, Colo. Jan. 12 /PRNewswire/ -- In response to recent inquiries, Manville Corporation today stated that information about Canadian litigation was not "new" news and had been reported in its SEC filings since the first claims were filed in the spring of 1991. "We would like to prevent any confusion in the marketplace," said Tom Stephens, Manville chairman and CEO. "We wish to emphasize that we believe that these claims will not have a material adverse effect on the company's consolidated financial position or operations."
 Manville stated that 52 personal injury lawsuits alleging unspecified damages from exposure to asbestos have been filed in the Supreme Court of British Columbia against Manville Canada, a subsidiary of Manville Corporation located in Alberta. The Supreme Court is the trial court level in British Columbia. In addition, eight property damage cases were filed in the same court against Manville Corporation as well as Manville Canada. Manville Corporation subsequently was dismissed in some of those cases and Schuller International, the company's fiber glass subsidiary, substituted in as a defendant. Riverwood International, the company's paperboard and packaging subsidiary, is not a defendant in any of these cases.
 Manville Corporation (NYSE: MVL) is an international holding company with two principal subsidiaries -- wholly owned Schuller International, Inc. and 80 percent owned Riverwood International Corporation (NYSE: RVW). Products sold by Schuller International, Inc. include insulation, reinforcements, filtration and building products. Some of its products are marketed under the Manville brand name. Riverwood International Corporation is a global packaging systems and paper products company. Founded in 1858, Manville Corporation and its subsidiaries employ approximately 16,000 people at more than 50 locations worldwide. Manville and its subsidiaries had approximately $3.8 billion in assets as of September 30, 1992.
 -0- 1/12/93
 /CONTACT: Sharon Sweet, 303-978-4694, for Manville Corporation/
 (MVL)


CO: Manville Corporation ST: Colorado IN: SU:

SH -- NY064 -- 3882 01/12/93 09:39 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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