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MANVILLE RECEIVES $31.4 MILLION IRS REFUND

 DENVER, March 1 /PRNewswire/ -- Manville Corporation (NYSE: MVL) today announced the receipt of a $31.4 million cash refund from the Internal Revenue Service. This refund reflects excess taxes paid by Manville and results from the recalculation of the add-on minimum tax for the years 1977 through 1986. The refund includes interest on the excess taxes paid. The full amount will be recognized in earnings in the first quarter of 1993.
 Manville Corporation is an international holding company with two principal subsidiaries -- wholly owned Schuller International Inc., and Riverwood International Corporation (NYSE: RVW). Products sold by Schuller International Inc. include insulation, reinforcements, filtration and building products. Many 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 $3.7 billion in assets as of Sept. 30, 1992.
 -0- 3/1/93
 /CONTACT: Sharon L. Sweet of Manville, 303-978-4694/
 (MVL RVW)


CO: Manville Corporation; Riverwood International Corporation; Schuller
 International Inc. ST: Colorado IN: PAP SU:


BB -- DV005 -- 1187 03/01/93 08:01 EST
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Publication:PR Newswire
Date:Mar 1, 1993
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