Sales for Georgia-Pacific Group in the first quarter 2000 grew to $5.4 billion, compared with $3.4 billion for the same period in 1999. First quarter 2000 results reflect the addition of a paper distribution segment, formerly the publicly held Unisource Worldwide Inc., and the integration of the former Wisconsin Tissue into the group's commercial tissue business.

           Within Georgia-Pacific Group's pulp and paper businesses, the containerboard and packaging segment reported first quarter 2000 operating profits of $131 million,
versus $35 million for the same quarter a year ago. Asset sales within this segment for the first quarter 2000 accounted for a pre-tax gain of $24 million ($15 million after tax, or 9 cents diluted earnings per share).

           The group's pulp and paper segment, comprised of its pulp, bleached board, communication papers and tissue businesses, reported first quarter 2000 operating profits of $129 million, compared with $13 million in the same quarter last year.

           Georgia-Pacific Group's paper distribution segment, Unisource Worldwide, reported operating profits of $38 million in the first quarter 2000.

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           The group generated cash from operations of $242 million and made capital expenditures for plant, property and equipment of $181 million during the quarter.

           "Our first quarter results provide solid evidence that we have entered a period
of improved fundamentals in our pulp and paper businesses," said A.D. "Pete" Correll, chairman and chief executive officer. "In addition, significantly increased revenues resulting from our recent acquisitions are now very apparent. This further illustrates how Georgia-Pacific Group has become transformed into a total forest products company able to perform well in widely varying market conditions.

           "Within our pulp and paper businesses, we saw significant improvement on strong markets for containerboard and packaging, with average prices for linerboard and medium dramatically higher compared to last year's first quarter," Correll said. "Our
pulp and bleached board businesses were led by substantially improved global prices.

           "Compared to the previous year, prices for our commercial and consumer tissue business were down but volume was higher due to our rapid integration of Wisconsin Tissue's production into the Georgia-Pacific Tissue business," Correll said. "This combination already is providing cost savings, margin improvement and excellent geographic coverage for its products.

           "Prices also improved and volume was up slightly within our communications papers business, " Correll added. "Unisource, in addition to providing substantial cost reduction, product line synergies and greater vertical integration, continues to be accretive to our results as we anticipated.

           "Lower plywood and lumber prices resulted in significantly reduced segment earnings compared to last year's first quarter, but we continue to benefit from the wide range of building products that contribute to this segment's overall performance,"
Correll said. "Gypsum and particleboard prices were higher, although volumes
declined significantly for gypsum compared to last year's pace. Our building products distribution segment was impacted by lower prices but its sales were up 4 percent compared to last year."

           Correll concluded, "We continue to believe that 2000 will be a very good year for Georgia-Pacific."

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           Georgia-Pacific Corp.'s common stock was redesignated in December 1997 to reflect separately the performance of the corporation's pulp, paper and building products businesses, which are now known as Georgia-Pacific Group (web site: www.gp.com). A separate class of common stock was distributed to reflect the performance of the corporation's timber operating group, which is publicly traded as The Timber Company (NYSE:TGP).

A tabulation of results for Georgia-Pacific Group follows:

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GEORGIA-PACIFIC GROUP
Operating Highlights
(In millions, except per share amounts)
(unaudited)

• During the first quarter of 2000, Georgia-Pacific Group sold certain containerboard and packaging assets resulting in a pre-tax gain of $24 million ($15 million after tax, or $0.09 diluted earnings per share).

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