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REPRESENTATIVES OF MAJORITY STOCK OWNER OF MANVILLE CORPORATION NAMED TO BOARD

 REPRESENTATIVES OF MAJORITY STOCK OWNER
 OF MANVILLE CORPORATION NAMED TO BOARD
 DENVER, Nov. 6 /PRNewswire/ -- Manville Corporation (NYSE: MVL) today announced the election of three new members to the Manville Board of Directors. The three new members also are trustees of the Manville Personal Injury Settlement Trust (Trust) which was established in 1988 to assume and resolve all of the company's asbestos claims. The Trust controls 80 percent of Manville shares.
 Robert A. Falise, chairman of the Board of Trustees of the Trust and its managing trustee, trustee Christian E. Markey, and trustee Louis Klein will assume positions on the board immediately. (See biographies.) Messrs. Falise and Klein are also members of the board of directors of Riverwood International Corporation (NYSE: RVW), the paperboard packaging subsidiary of Manville.
 "We welcome the input and expertise these directors bring to our board," said Tom Stephens, chairman, president and CEO of Manville. "We believe it is appropriate that the interests of the Trust be represented at the board level. This addition will enhance our working relationship with the Trust while maintaining the independent structure of the board."
 Bob Falise, chairman and managing trustee of the Manville Trust, said, "Even though we three will represent the majority interest in Manville, we are committed to maintaining an independent board representing all shareholders. We believe a board made up of a majority of independent outside directors is the appropriate structure."
 As part of Manville's Chapter 11 Reorganization Plan finalized in 1988, the Trust received 80 percent of Manville's shares and is funded each year with bond payments of $75 million a year for the next 22 years in addition to 20 percent of net profits of Manville Corporation for as long as needed. The Trust is based in Washington, D.C. and is independent of Manville Corporation.
 Manville Corporation is an international holding company with two principal subsidiaries - wholly owned Schuller International, Inc., and Riverwood International Corporation. 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 billion in assets as of December 31, 1991.
 BIOGRAPHICAL INFORMATION
 ROBERT A. FALISE
 Robert A. Falise, 59, joined the board of directors of Manville Corporation in November (1992). Mr. Falise became chairman and managing director for the Manville Personal Injury Settlement Trust in Washington, D.C. in December 1991.
 From 1989 through December, Mr. Falise was engaged in the private practice of law as an advisor to boards of directors and CEOs of financial institutions and industrial enterprises in the areas of strategic planning, operational and financial restructuring and the enhancement of shareholder value. From 1987 to 1989, he served as executive vice president and group executive of Irving Bank Corporation and Irving Trust Company of New York. From 1980 to 1987, he was vice president and general attorney of RCA Corporation. From 1966 to 1980, he was vice president, general counsel and secretary of Dictaphone Corporation. Prior to that Mr. Falise was in the private practice of corporate law in New York City and served in 1960-61 as Assistant Director of the U.S. Commission on Civil Rights in Washington, D.C. and, earlier, as an Army Judge Advocate officer specializing in international law in the Pentagon. Mr. Falise also serves on the board for Riverwood International Corporation.
 A graduate of Columbia College in 1954, Mr. Falise received his JD in 1956 from Columbia University School of Law.
 Mr. Falise is also a director of the Caramoor Museum and Center for the Performing Arts, Westchester County, N.Y.
 LOUIS KLEIN, JR.
 Louis Klein, Jr., 57, joined the board of directors of Manville Corporation in November (1992). Mr. Klein is a trustee of the Manville Personal Injury Settlement Trust. From 1989 to 1990 he was chairman and CEO of Stendig Inc., a New York-based importer and national marketer of prestige office, institutional and residential furniture and textiles.
 Previous positions included chairman and chief executive officer of Victoreen Inc., a Cleveland-based manufacturer and marketer of radiation detection and measurement equipment; managing director-corporate finance at Neuberger & Berman; managing director of Ardshiel Associates Inc.; chairman, president and CEO of Hemdale Enterprises, Inc.; a partner of E.M. Warburg, Pincus & Co.; and, a senior associate of Lazard Freres & Co.
 Mr. Klein has been a court-appointed trustee in the divestiture of several businesses pursuant to consent decrees or final orders involving the U.S. Department of Justice and the Federal Trade Commission. Mr. Klein also serves on the board for Riverwood International Corporation.
 Mr. Klein received his AB degree from Harvard College and a JD degree from Columbia Law School.
 CHRISTIAN E. MARKEY, JR. Christian E. Markey, Jr., 63, joined the board of directors of Manville Corporation in November (1992). A graduate of U.C.L.A. School of Law and a veteran of the United States Marine Corps, Mr. Markey is vice president and general counsel of the University of Southern California, and a trustee of the Manville Personal Injury Settlement Trust (Trust). Markey served as a judge since his appointment in 1974 by Ronald Reagan, then governor of California. Prior to 1974 he was a partner in private law firms and a member of the California Bar and the Supreme Court Bar. In 1982 Judge Markey was appointed an all purpose judge in Los Angeles County, California, where he heard approximately 4,000 asbestos litigation cases consisting of personal injury, property damage and abatement. Judge Markey lectures and teaches at the Whittier College School of Law, the University of Southern California Law Center and at various national and international institutes.
 In addition to serving as a Trustee of the Trust, Judge Markey has been appointed to the Commission on Judicial Performance by the California Supreme Court. Markey was founding Chairman of the Board of the Southern California Center for Law in the Public Interest. He received the Chief Justice Roger Traynor Award from the Los Angeles Trial Lawyers for his extraordinary devotion to justice.
 -0- 11/6/92
 /CONTACT: Leo Honeycutt of Manville Corporation, 303-978-2382/
 (MVL RVW) CO: Manville Corporation ST: Colorado IN: PAP SU: PER


MC -- DV001 -- 8129 11/06/92 10:59 EST
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Date:Nov 6, 1992
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