<b>Riverwood Reports Dip in Earnings</B>

Riverwood International Corp. reported fourth quarter earnings of $70.5 million, down 4.3% compared to $73.7 million in the fourth quarter of the previous year. Net sales were $275.4 million, down 4.6% versus $288.7 million in the prior-year period. In comparing the fourth quarter of 2000 to 1999, the company recorded higher volumes and prices in the North American consumer product packaging markets.

These improvements were offset by lower volumes in worldwide beverage markets and international consumer product packaging markets, as well as lower volumes in containerboard markets and unfavorable foreign currency exchange rates in Europe.

Income from operations was $115.5 million, compared with $34.6 million in the same period a year ago, due principally to the gain of $70.9 million realized on the October sale of Igaras, the company's 50% owned joint-venture in Brazil.

The coated board segment reported a 0.7% increase in EBITDA to $67.6 million, compared with $67.2 million in the fourth quarter of 1999.

Total coated board net sales were $243.9 million in the fourth quarter of 2000, down 4.1% from $254.4 million for the prior-year period. This decline was primarily due to lower volumes in worldwide beverage markets and international consumer product packaging markets and unfavorable foreign currency exchange rates in Europe. These negative factors were somewhat offset by higher volumes and prices in North American consumer product packaging markets.

Earnings in the company's containerboard segment decreased 37.3% to $4.0 million in the fourth quarter of 2000 compared to $6.3 million in the fourth quarter of 1999. Containerboard net sales were $31.5 million in the fourth quarter, down 8.0% from $34.3 million a year ago. The decrease in both EBITDA and net sales for Containerboard was primarily due to lower volumes and pricing. The company's long-term strategy is to continue to shift linerboard production to value-added coated board production.