<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------------
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One):
[X] ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934 [FEE REQUIRED].
For the nine month period ended December 31, 1994
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED].
For the transition period from to
---------------- ----------------
Commission file number 1-3506
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below: Georgia-Pacific Corporation Hourly 401(k)
Savings Plan.
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office: Georgia-Pacific Corporation, 133
Peachtree Street, N.E., Atlanta, Georgia 30303.
<PAGE> 2
GEORGIA-PACIFIC CORPORATION
HOURLY 401(k) SAVINGS PLAN
FINANCIAL STATEMENTS AND SCHEDULES
FOR THE NINE MONTH PERIOD ENDED
DECEMBER 31, 1994
GEORGIA-PACIFIC CORPORATION
133 PEACHTREE STREET, N.E.
ATLANTA, GA 30303
<PAGE> 3
GEORGIA-PACIFIC CORPORATION
HOURLY 401(k) SAVINGS PLAN
FINANCIAL STATEMENTS AND SCHEDULES
DECEMBER 31, 1994
TABLE OF CONTENTS
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS
Statement of Net Assets Available for Benefits with Fund Information--December
31, 1994
Statement of Changes in Net Assets Available for Benefits with Fund Information
for the Nine Month Period Ended December 31, 1994
NOTES TO FINANCIAL STATEMENTS AND SCHEDULES
SCHEDULES SUPPORTING FINANCIAL STATEMENTS
Schedule I: Item 27(a)--Schedule of Assets Held for Investment
Purposes--December 31, 1994
Schedule II: Item 27(d)--Schedule of Reportable Transactions for the Nine
Month Period Ended December 31, 1994
<PAGE> 4
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Participants of the
Georgia-Pacific Corporation Hourly
401(k) Savings Plan:
We have audited the accompanying statement of net assets available for benefits
with fund information of the GEORGIA-PACIFIC CORPORATION HOURLY 401(k) SAVINGS
PLAN (the "Plan") as of December 31, 1994, and the related statement of changes
in net assets available for benefits with fund information for the nine months
ended December 31, 1994. These financial statements and the schedules referred
to below are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements and schedules based on
our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the
Georgia-Pacific Corporation Hourly 401(k) Savings Plan as of December 31, 1994
and the changes in net assets available for benefits for the nine month period
ended December 31, 1994 in conformity with generally accepted accounting
principles.
Our audit was made for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedules of assets held for
investment purposes and reportable transactions are presented for purposes of
additional analysis and are not a required part of the basic financial
statements but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. The fund information in the statement
of net assets available for benefits and the statement of changes in net assets
available for benefits is presented for purposes of additional analysis rather
than to present the net assets available for benefits and the changes in net
assets available for benefits of each fund. The supplemental schedules and
fund information have been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion, are fairly stated
in all material respects in relation to the basic financial statements taken
as a whole.
/s/ ARTHUR ANDERSEN LLP
May 22, 1995
Atlanta, Georgia
<PAGE> 5
GEORGIA-PACIFIC CORPORATION HOURLY 401(k) SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Georgia-Pacific
Short-Term U.S. Georgia-Pacific Index Trust Balanced Bond Index
Treasury Portfolio Stock Fund 500 Portfolio Fund Fund Portfolio
------------------ ---------- ------------- ---- --------------
<S> <C> <C> <C> <C> <C>
Assets:
Contribution receivable $ 886,142 $ 262,700 $ 493,994 $ 87,299 $ 45,211
Accrued income 0 0 0 2,582 0
Other receivables 68,343 0 0 45,455 0
Due from other funds 0 132,875 21,178 0 1,731
Investments, at market value:
Master Trust 0 13,782,778 0 0 0
Mutual funds 41,168,013 0 13,838,292 1,006,088 354,335
----------- ----------- ----------- ---------- --------
Total investments 41,168,013 13,782,778 13,838,292 1,006,088 354,335
----------- ----------- ----------- ---------- --------
TOTAL ASSETS 42,122,498 14,178,353 14,353,464 1,141,424 401,277
----------- ----------- ----------- ---------- --------
Liabilities:
Due to other funds 68,343 40,175 15,360 0 0
Other payables 0 92,699 5,818 0 1,731
----------- ----------- ----------- ---------- --------
TOTAL LIABILITIES 68,343 132,874 21,178 0 1,731
----------- ----------- ----------- ---------- --------
NET ASSETS AVAILABLE FOR
BENEFITS $42,054,155 $14,045,479 $14,332,286 $1,141,424 $399,546
=========== =========== =========== ========== ========
<CAPTION>
Money
Market
Reserves Total
-------- -----
<S> <C> <C>
Assets:
Contribution receivable $ 217,221 $ 1,992,567
Accrued income 0 2,582
Other receivables 31,905 145,703
Due from other funds 48,090 203,874
Investments, at market value:
Master Trust 0 13,782,778
Mutual funds 3,770,564 60,137,292
---------- -----------
Total investments 3,770,564 73,920,070
---------- -----------
TOTAL ASSETS 4,067,780 76,264,796
---------- -----------
Liabilities:
Due to other funds 79,996 203,874
Other payables 0 100,248
---------- -----------
TOTAL LIABILITIES 79,996 304,122
---------- -----------
NET ASSETS AVAILABLE FOR
BENEFITS $3,987,784 $75,960,674
========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE> 6
GEORGIA-PACIFIC CORPORATION HOURLY 401(k) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
FOR THE NINE MONTH PERIOD ENDED DECEMBER 31, 1994
<TABLE>
<CAPTION>
Short-Term Georgia-Pacific
U.S. Treasury Georgia-Pacific Index Trust Balanced
Portfolio Stock Fund 500 Portfolio Fund
--------- ---------- ------------- ------
<S> <C> <C> <C> <C>
Net investment income:
Interest and dividends $ 1,099,033 $ 2,883 $ 242,331 $ 22,401
Net appreciation (depreciation) in
market value of investments (908,584) 27,144 (91,955) (17,214)
Net gain from Master Trust 0 511,630 0 0
----------- ----------- ------------- ------------
Net investment income 190,449 541,657 150,376 5,187
Contributions:
Participants 4,664,237 866,741 2,030,275 310,111
Employer 1,281,041 189,328 392,815 64,984
----------- ----------- ----------- ----------
Total contributions 5,945,278 1,056,069 2,423,090 375,095
Interfund transfers (11,593,002) 3,973,835 3,394,726 761,142
Amounts distributed to participants (1,041,761) (86,966) (80,663) 0
Transfers from affiliated plans 48,553,191 8,560,884 8,444,757 0
----------- ----------- ----------- ----------
Change in net assets available for
benefits and net assets available for
benefits, end of period $42,054,155 $14,045,479 $14,332,286 $1,141,424
=========== =========== =========== ==========
Number of units outstanding at end of
period 4,205,109 1,281,678 322,045 107,135
----------- ----------- ----------- ----------
Unit value at end of period $ 9.79 $ 10.75 $ 42.97 $ 9.84
=========== =========== =========== ==========
<CAPTION>
Money
Bond Index Market
Fund Portfolio Reserves Total
-------------- -------- -----
<S> <C> <C> <C>
Net investment income:
Interest and dividends $ 8,671 $ 52,693 $ 1,428,012
Net appreciation (depreciation) in
market value of investments (7,894) 0 (998,503)
Net gain from Master Trust 0 0 511,630
-------- ---------- -----------
Net investment income 777 52,693 941,139
Contributions:
Participants 145,475 574,425 8,591,264
Employer 32,056 140,662 2,100,886
-------- ---------- -----------
Total contributions 177,531 715,087 10,692,150
Interfund transfers 224,006 3,239,293 0
Amounts distributed to participants (2,768) (19,289) (1,231,447)
Transfers from affiliated plans 0 0 65,558,832
-------- ---------- -----------
Change in net assets available for
benefits and net assets available for
benefits, end of period $399,546 $3,987,784 $75,960,674
======== ========== ===========
Number of units outstanding at end of
period 38,641 3,770,564
-------- ----------
Unit value at end of period $ 9.17 $ 1.00
======== ==========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE> 7
GEORGIA-PACIFIC CORPORATION HOURLY 401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS AND SCHEDULES
DECEMBER 31, 1994
NOTE 1. ORGANIZATION AND PLAN DESCRIPTION
The accompanying financial statements present the statements of net assets
available for benefits and changes in net assets available for benefits of the
Georgia-Pacific Corporation Hourly 401(k) Savings Plan.
Certain groups of hourly employees of Georgia-Pacific Corporation (the
"Employer") participate in this Plan. For unionized groups, participation in
the Plan must be specified in the applicable bargaining agreement; management
designates non-union participating groups. The Plan was established on April
1, 1994. Employees are eligible to participate in the Plan upon the completion
of one year of service. During 1994, assets of $65,558,832 were transferred to
the Plan from affiliated plans.
Plan assets are held in trust funds and invested on the participant's behalf,
with all investment earnings for each fund credited to the accounts of the
participants based on their proportionate share of the fund. Vanguard
Fiduciary Trust Company (the "Trustee") is the Trustee and custodian for the
Plan.
NOTE 2. SIGNIFICANT ACCOUNTING POLICIES
The accompanying financial statements have been prepared on the accrual basis
of accounting.
The Trustee performs daily valuations of the Plan's investments and makes daily
distributions.
Investments are presented at market value. Market values of stocks and bonds
are determined principally from quotations as reported on various securities
exchanges.
The net appreciation (depreciation) in the market value of investments in the
accompanying statement of changes in net assets available for benefits reflects
the net difference between the market value and cost at the beginning and end
of the period for assets held throughout the period, as well as the difference
between the period end market value and cost for assets purchased during the
period. For assets sold or distributed during the period, the net appreciation
reflects the net difference between the market value and the cost at the
beginning of the period and the date of disposition.
The net appreciation (depreciation) in the market value of investments by major
investment category is as follows:
<TABLE>
<S> <C>
Georgia-Pacific common stock $ 27,144
Mutual funds (1,025,647)
------------
Net depreciation $ (998,503)
============
</TABLE>
<PAGE> 8
NOTE 3. INCOME TAX STATUS
The Employer has filed for a letter of determination from the Internal Revenue
Service (the "IRS") as to the qualified status of the Plan. Under the
applicable provisions of the Internal Revenue Code, a participant will not be
subject to federal income tax on either employer contributions or earnings of
the Plan until such time as distributions are made to the participant. In
management's opinion, the Plan is currently designed and being operated in
accordance with applicable provisions of the Internal Revenue Code.
Accordingly, no provision for federal income taxes has been made in the
accompanying financial statements.
NOTE 4. INVESTMENTS
Assets held under the Plan were invested by the Trustee, as directed by the
participants, in one or more of six investment funds: the Short-Term U.S.
Treasury Portfolio, the Index Trust 500 Portfolio, the Georgia-Pacific Balanced
Fund, the Georgia-Pacific Stock Fund, the Bond Index Fund Portfolio, and the
Money Market Reserves. The Plan permits participants to change the investment
of future contribution or existing balances up to a maximum of four times a
year plus once a quarter.
The following is a description of these investment funds:
Georgia-Pacific Stock Fund - invested principally in shares of
Georgia-Pacific Corporation common stock. The December 31,1994 investment
market value of $13,782,778, exceeded 5% of the Plan's net assets.
Short-Term U.S. Treasury Portfolio - invested in the Vanguard Short-Term
U.S. Treasury Portfolio. The Vanguard portfolio, a fixed income mutual
fund, is principally invested in short-term government bills, notes and
bonds and has an average maturity of two to three years. The December 31,
1994 investment market value of $41,168,013 exceeded 5% of the Plan's net
assets.
Index Trust 500 Portfolio - invested in the Vanguard Index Trust 500
Portfolio, an equity mutual fund. This portfolio is invested in all of the
500 stocks included in the Standard & Poor's 500 Composite Stock Price Index
in approximately the same proportion as represented in the Index. The
objective of this fund is to approximate the performance of the Standard &
Poor's 500 Composite Stock Price Index. The December 31, 1994 mutual fund
market value of $14,340,337 exceeded 5% of the Plan's net assets.
Georgia-Pacific Balanced Fund - invested approximately 50% in the Vanguard
Bond Index Fund - Total Bond Market Portfolio and 50% in the Vanguard Index
Trust 500 Portfolio. The Vanguard Bond Index Fund, a fixed income mutual
fund, invests in U.S. government bonds, high quality corporate bonds and
mortgage-backed securities. The objective of the Vanguard Bond Index Fund
is to approximate the performance of the Lehman Brothers Aggregate Bond
Index. The Vanguard Index Trust 500 Portfolio, an equity mutual fund, is
described above under the Index Trust 500 Portfolio.
Money Market Reserves - invested in the Vanguard Money Market Reserves -
U.S. Treasury Portfolio, a money market mutual fund. The Portfolio is
invested exclusively in U.S. Government obligations. The December 31, 1994
investment market value of $3,770,564 exceeded 5% of the Plan's net assets.
<PAGE> 9
Bond Index Fund Portfolio - invested in the Vanguard Bond Index Fund - Total
Bond Market Portfolio, a fixed income mutual fund. This fund is described
above under the Georgia-Pacific Balanced Fund.
NOTE 5. MASTER TRUST
Effective June 8, 1994, the assets of the Georgia-Pacific Stock Fund were
transferred into the Georgia-Pacific Stock Fund Master Trust ("Master Trust").
The Master Trust was established to hold, administer and invest the assets of
the Georgia-Pacific Stock Funds of several defined contribution plans qualified
under Internal Revenue Code section 401(k). These plans are administered by
Georgia-Pacific Corporation. Each participating plan's interest in the Master
Trust is based upon the market value of assets transferred.
The market value of the Master Trust is allocated to the individual
participating plans based upon the relative value of the assets of each Plan.
Interest income, dividends, and gains and losses (both realized and unrealized)
are allocated daily to the individual participating plans based upon the
relative market values at the beginning of each day.
The Plan's interest in the assets of the Master Trust is included in the
accompanying schedule of assets held for investment purposes under the
"Georgia-Pacific Stock Fund Master Trust." A summary of the Master Trust's
major classifications of investments as of December 31, 1994 is shown below:
<TABLE>
<CAPTION>
December 31
1994
-----------
<S> <C>
Investments (at market):
Georgia-Pacific Corporation
common stock $172,932,403
Vanguard Money Market
Reserves U.S. Treasury
Portfolio 2,526,180
------------
Total investments 175,458,583
------------
Receivables:
Interest 9,606
Other receivables 825,079
------------
Total receivables 834,685
------------
Less:
Payables 68,617
Due to brokers 1,680,111
------------
Total payables 1,748,728
------------
Net assets $174,544,540
============
</TABLE>
<PAGE> 10
A summary of income and net appreciation of the Master Trust, which comprises
the net investment gain for all participating plans for the period from June 8,
1994 through December 31, 1994, is shown below:
<TABLE>
<S> <C>
Interest income $ 63,892
Dividends 1,677,868
Net appreciation in
market value of investments 11,824,448
-----------
Net investment gain from
Master Trust $13,566,208
===========
</TABLE>
Allocations to participating plans of net investment gain for the period June
8, 1994 through December 31, 1994 and net assets as of December 31, 1994 are
shown below for the Master Trust:
<TABLE>
<S> <C>
Georgia-Pacific Corporation
Hourly 401(k) Savings Plan $ 511,630
All other plans 13,054,578
-----------
Net investment gain from
Master Trust $13,566,208
===========
</TABLE>
<TABLE>
<S> <C> <C>
Georgia-Pacific Corporation
Hourly 401(k) Savings Plan $ 13,782,778 7.90%
All other plans 160,761,762 92.10
------------- ------
Net assets of the Master Trust $ 174,544,540 100.00%
============= ======
</TABLE>
NOTE 6. CONTRIBUTIONS
The Plan allows for both employer and employee contributions. For unionized
groups, the percent of eligible compensation a participant is able to
contribute, the percent of the Employer's match (if any) and whether certain
bonuses and compensation for unused vacation and holidays may be contributed
are governed by the collective bargaining agreement applicable to that group.
Participants may contribute from 1% to 12% of eligible compensation to the Plan
in whole percentages as specified in the Plan Exhibit applicable to that group.
In addition, if specified in the governing Exhibit, participants may elect to
contribute certain bonuses and compensation for unused vacation days and
personal holidays to the Plan. The Employer matches the participants'
contributions to the extent provided in the Exhibit applicable to the
participating group. In addition, participants may also contribute rollovers
from certain qualified plans.
Participant and employer contributions are remitted to the Trustee monthly and
invested in short-term interest bearing securities until they can be credited
to participants' accounts and invested in accordance with participants'
investment elections. Earnings on the short-term investments are allocated to
participants' accounts once each year.
<PAGE> 11
NOTE 7. WITHDRAWALS AND TERMINATION
Under the Plan, contributions excluded from gross income for federal income tax
purposes (and, in specified cases, other components of the participant's
account balance) can be withdrawn only in the case of a financial hardship and
are subject to taxes in the year received. The withdrawals (either full or
partial) are paid in cash. Withdrawals of before-tax contributions result in a
suspension of the right to make employee contributions to the Plan for a period
of at least twelve months.
In the event of a Participant's termination of employment or death, or
attainment of age 65, the Participant or his beneficiary receives in cash
and/or Georgia-Pacific Corporation common stock his entire account balance.
Participants are immediately 100% vested in employer contributions.
NOTE 8. PLAN TERMINATION
The Employer has reserved the right to amend, modify, suspend, or terminate the
Plan at any time. In the event the Corporation terminates the Plan, each
participant's account balance would be fully vested.
NOTE 9. FORM 5500
Net assets available for benefits as presented on Form 5500 agree to the net
assets available for benefits presented in the accompanying financial statement
for the period ended December 31, 1994.
NOTE 10. EVENT SUBSEQUENT TO DATE OF AUDITORS' REPORT
The Plan has been amended to provide an additional investment fund, the
International Fund, effective July 3, 1995. The fund will invest in the
Vanguard International Growth Portfolio, an international equity mutual fund,
which invests in the stocks of companies outside the United States that have
above average growth potential. The investment objective of this fund is
long-term capital appreciation.
<PAGE> 12
SCHEDULE I
GEORGIA-PACIFIC CORPORATION HOURLY 401(k) SAVINGS PLAN
ITEM 27(a) -- SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Shares
or Face
Amount Cost Market
------ ---- ------
<S> <C> <C> <C>
GEORGIA-PACIFIC STOCK FUND
Georgia-Pacific Stock Fund Master Trust * 1,281,678 $12,087,956 $13,782,778
----------- -----------
SHORT-TERM U.S. TREASURY PORTFOLIO
Vanguard Short-Term U.S. Treasury Portfolio* 4,205,109 41,979,621 41,168,013
----------- -----------
INDEX TRUST 500 PORTFOLIO
Vanguard Index Trust 500 Portfolio * 322,045 13,932,082 13,838,292
----------- -----------
GEORGIA-PACIFIC BALANCED FUND
Vanguard Index Trust 500 Portfolio * 11,684 507,895 502,045
Vanguard Bond Index Fund * 54,967 514,645 504,043
----------- -----------
TOTAL GEORGIA-PACIFIC BALANCED FUND 1,022,540 1,006,088
----------- -----------
BOND INDEX FUND PORTFOLIO
Vanguard Bond Index Fund * 38,641 360,332 354,335
----------- -----------
MONEY MARKET RESERVES
Vanguard Money Market Reserves
U.S. Treasury Portfolio * 3,770,564 3,770,564 3,770,564
----------- -----------
TOTAL INVESTMENTS $73,153,095 $73,920,070
=========== ===========
</TABLE>
* Represents a party-in-interest to the Plan.
The accompanying notes are an integral part of this schedule.
<PAGE> 13
SCHEDULE II
GEORGIA-PACIFIC CORPORATION HOURLY 401(k) SAVINGS PLAN
ITEM 27(d)--SCHEDULE OF REPORTABLE TRANSACTIONS*
FOR THE NINE MONTH PERIOD ENDED DECEMBER 31, 1994
<TABLE>
<CAPTION>
Purchases Sales
---------------------- -------------------------------------------------
Gain
Number Amount Number Cost Proceeds (Loss)
------ ------ ------ ---- -------- ------
<S> <C> <C> <C> <C> <C> <C>
GEORGIA-PACIFIC STOCK FUND
Georgia-Pacific Corporation
common stock 20 $ 719,067 1 $ 719,067 $ 746,390 $ 27,323
Georgia-Pacific Stock Fund
Master Trust 111 14,237,178 71 2,149,222 2,512,085 362,863
SHORT-TERM U.S. TREASURY PORTFOLIO
Vanguard Short-Term U.S.
Treasury Portfolio 163 55,111,526 160 13,131,905 13,034,929 (96,976)
GEORGIA-PACIFIC BALANCED FUND
Vanguard Index Trust 500
Portfolio 74 589,701 14 81,807 82,404 597
Vanguard Bond Index Fund 79 592,413 15 77,768 76,317 (1,451)
INDEX TRUST 500 PORTFOLIO
Vanguard Index Trust 500
Portfolio 151 15,448,311 71 1,516,228 1,518,063 1,835
BOND FUND INDEX PORTFOLIO
Vanguard Bond Index Fund 66 422,176 11 61,844 59,947 (1,897)
MONEY MARKET RESERVES
Vanguard Money Market
Reserves U.S. Treasury
Portfolio 132 5,259,411 42 1,488,847 1,488,847 0
</TABLE>
* The above represents a series of transactions in securities of the same
issue in excess of 5% of the plan assets at the beginning of the year.
The accompanying notes are an integral part of this schedule.
<PAGE> 14
SIGNATURES
THE PLAN. PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934,
THE TRUSTEES (OR OTHER PERSONS WHO
ADMINISTER THE EMPLOYEE BENEFIT PLAN) HAVE DULY CAUSED THIS ANNUAL REPORT TO BE
SIGNED ON ITS BEHALF BY THE UNDERSIGNED
HEREUNTO DULY AUTHORIZED.
GEORGIA-PACIFIC CORPORATION
HOURLY 401(K) SAVINGS PLAN
BY: GEORGIA-PACIFIC CORPORATION,
AS PLAN ADMINISTRATOR
DATE: JUNE 27, 1995 BY: /s/ JOHN F. MCGOVERN
---------------------------------------
JOHN F. MCGOVERN
SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
GEORGIA-PACIFIC CORPORATION
<PAGE> 15
INDEX TO EXHIBITS
Exhibit
Number Description
------- -----------
23 Consent of Arthur Andersen LLP*
----------------------------------------
* - Filed by EDGAR
<PAGE> 1
EXHIBIT 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of
our report included in this Form 11-K into Georgia-Pacific Corporation's
previously filed Registration Statement File No. 33-52815.
/s/ Arthur Andersen LLP
Atlanta, Georgia
June 26, 1995
