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RIVERWOOD INTERNATIONAL NEGOTIATES FOR ACQUISITION OF MACON KRAFT

 RIVERWOOD INTERNATIONAL NEGOTIATES FOR ACQUISITION OF MACON KRAFT
 ATLANTA, March 9 /PRNewswire/ -- Riverwood International Corporation, the wholly-owned forest products subsidiary of Denver- based Manville Corporation (NYSE: MVL), announced today that company officials have signed a letter of intent with Pratt Industries (USA) for the purchase of substantially all the assets of Macon Kraft Inc., of Macon, Ga., and is negotiating an asset purchase agreement relating to the transaction. Macon Kraft is a large manufacturer of linerboard for corrugated box applications. Annual production of Macon Kraft is approximately 525,000 tons of paperboard with more than 500 employees.
 "We are excited about the potential to add Macon Kraft to our business base," said Riverwood International President Thomas Johnson. "In addition to its present linerboard capabilities, we would plan to make substantial investments in Macon to equip the mill to produce our proprietary coated boxboard grades of paperboard, making Macon one of the few mills in the world to produce such a high-grade product."
 The Manville board authorized Riverwood International to engage in negotiations for the acquisition of substantially all the assets of Macon Kraft, including the assets of Macon subsidiaries Waste Recovery and Paper Inc., and Macon Kraft Laminates Inc. Terms have not been disclosed.
 The acquisition is subject to a number of conditions, including approval by the board of directors of Manville and Riverwood International; receipt of financing for both the acquisition and additional investments; union contract approvals; regulatory and environmental consents, among others. Johnson said, "It is envisioned that such conditions could be met during the third quarter of this year."
 "The new coated products to be made at Macon will be used to supply our rapidly growing machinery-based packaging systems, marketed on a global basis," Johnson added.
 Riverwood International Corporation is a worldwide vertically integrated, machinery based paper packaging company. Founded in 1923 in West Monroe, La., Riverwood International was renamed in 1991 from Manville Forest Products Corporation. Today it employs 8,000 people throughout North America, Europe, the Pacific Rim, and South America. The company has assets of approximately $1.5 billion. 1991 annual sales were $1.0 billion from its six operating divisions. Its world headquarters was moved to Atlanta in late 1990.
 In 1990, Riverwood International acquired DRG Cartons Limited, the third largest folding carton company in the United Kingdom, Swedish- based Fiskeby Board AB, the leading European producer of recycled and coated boxboard products, Multiboard Packaging Pty., Ltd., a leading supplier of lithographic folding cartons in Australia, and established a joint machinery-based packaging systems venture with Rengo Company Ltd. of Osaka, Japan. Multiple packaging sales and development organizations also were established in 1990 in the United Kingdom, northern Europe and Australia to supply multiple packaging services to the beverage, dairy and food markets.
 Also acquired in 1991 were Jorba, S.A. and Syspack, S.A. packaging and machinery system manufacturing businesses in Spain, Federal Paper Board's Jak-et-Pak businesses in Montvale, N.J., Minnesota Automation, a packaging equipment firm in Crosby, Minn., and M.E.A.D., Ltda., a privately held packaging machinery company based in Sao Paulo, Brazil. The company also entered an exclusive manufacturing agreement with J. B. Slevin Company, a rotogravure paper packaging company in Lansdowne, Pa.
 -0- 3/9/92
 /NOTICE TO EDITORS FROM VICE PRESIDENT, CORPORATE RELATIONS, MANVILLE CORPORATION: Riverwood International is the only legally acceptable short version use of our new name, other than the full name, Riverwood International Corporation. Please do not abbreviate as "Riverwood". Thank you.
 /CONTACT: Leo Honeycutt, 303-978-2382 or Charles Lemons (Financial), 303-978-3529, both of Manville/
 (MVL) CO: Riverwood International Corporation; Manville Corporation ST: Georgia, Colorado IN: PAP SU: TNM


BB -- DV004 -- 6610 03/09/92 17:39 EST
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Date:Mar 9, 1992
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