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RIVERWOOD INTERNATIONAL EXPECTS TO REPORT LOWER FIRST QUARTER EARNINGS

 ATLANTA, April 12 /PRNewswire/ -- Thomas H. Johnson, president and CEO of Riverwood International Corporation (NYSE: RVW), today indicated that first quarter earnings, excluding unusual items, will be significantly lower than the 1992 first quarter pro forma results of $0.07 per share. He noted that this is consistent with his comments in the company's February 9, 1993 earning release.
 Johnson said that the company's largest segment, Coated Board System, will also report a significant decline in income from operations compared with last year. The largest factors in the decrease are higher levels of expenditures for packaging machinery design and market development as the company prepares for the conversion of its Macon, Ga. plant to coated board production in the third quarter of 1994 and weaker volume and pricing of coated board sold into folding carton markets. While the machinery based beverage packaging business remains strong compared with the first quarter of 1992, coated board worldwide results in the quarter will also reflect the impact of unfavorable foreign exchange rates.
 The company's Containerboard segment will show a loss for the quarter, compared with a modest profit in the first quarter of 1992. This is due to a continued deterioration in linerboard prices resulting in losses at the Macon, Ga. mill.
 Partially offsetting these declines will be a strong increase in operating earnings for the Wood Products segment due to continued strong lumber and plywood prices.
 "Riverwood's first quarter reflects tough conditions in some of our key markets," said Johnson. "To ensure a stronger remainder of the year, we are refocusing our marketing efforts toward the machinery-based business and implementing tighter cost controls in selected areas as well as concentrating on improvements in our manufacturing operations. I would like to emphasize that despite the first quarter results, Riverwood should still deliver a strong increase in operating earnings for the full year due to early signs of a good beverage season, anticipated fall price increases for both linerboard and coated board, and continued strength in wood products. And our outlook for 1994 is excellent in light of continued strong packaging machine placements and the startup of coated board production at the Macon, Georgia mill."
 Riverwood International Corporation is a global packaging systems and paper products company. At the end of 1992, the company employed more than 8,500 people worldwide and had assets of approximately $1.9 billion and annual sales of approximately $1.1 billion. The company is headquartered in Atlanta, Ga. and has seven major business operations spanning North America, Europe, Asia-Pacific, Central America and South America.
 -0- 4/12/93
 /CONTACT: Sharon Sweet of Riverwood International, 303-978-4694/
 (RVW)


CO: Riverwood International Corporation ST: Georgia IN: PAP SU: ERP

SB -- NYON2 -- 4584 04/12/93 07:45 EDT
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Date:Apr 12, 1993
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