<b>Riverwood Reports Dip in Revenue</b>

Riverwood International Corp. reported first quarter earnings of $59.2 million, a decrease of 7.6 percent from the same time last year. Sales increased 1.2 percent to $273.6 million from $270.2 million the first quarter of 2000.

"The first quarter of 2001 was a difficult quarter. The impact of higher energy costs and lower containerboard pricing was a disappointment for us as these factors mask the continued fundamental improvements being realized in our core beverage and consumer product businesses. Throughout the remainder of 2001, we will continue to focus on growing volumes in our higher margin coated board markets, reducing costs and improving cash flow," said Stephen Humphrey, president and CEO.

Looking forward into the remainder of 2001, Riverwood expects continued growth in its North American consumer product packaging markets and continued improvement in its North American beverage carton markets.

Riverwood’s containerboard segment decreased 88.8 percent to $.6 million during the first quarter, copared to $5.3 million the same time last year. 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.