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- ---------------- U.S. SECURITIES AND EXCHANGE COMMISSION ----------------------------
|F O R M 3| Washington, D.C. 20549 | OMB APPROVAL |
- ---------------- |--------------------------|
INITIAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0104|
|Expires: September 30,1998|
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, |Estimated ave. burden |
Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
Section 30(f) of the Investment Company Act 1940 ----------------------------
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|1.Name and Address of Reporting Person* |2.Date of Event |4.Issuer Name and Ticker or Trading Symbol |
| | Requiring Statement | |
| | (Month/Day/Year) | Smurfit-Stone Container Corporation |
| | | (SSCC)|
| | | |
|----------------------------------------| |-----------------------------------------------------------------|
| (Last) (First) (MI)| 07/01/1999 |5.Relationship of Reporting Person to |6.If Amendment, Date of |
| | | Issuer (Check all Applicable) | Original (Mon/Day/Year)|
| Smurfit-Stone Container Corp. | | | |
| 150 N. Michigan Avenue |-----------------------| Director 10% Owner | |
| |3.IRS or Soc. Sec. No. |--- --- |-------------------------|
|----------------------------------------| of Reporting Person | |7.Individual or Joint/ |
| (Street) | (Voluntary) | X Officer Other | Group Filing |
| | |---(give title below)---(Specify below)| (Check Applicable Line)|
| | | | X Form filed by One |
|Chicago IL 60601-7568| | Vice President and Area |--- Reporting Person |
| | | Manager | Form filed by More |
| | | |--- than Reporting Person|
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security (Instr. 4) |2.Amount of Securities |3.Ownership |4.Nature of Indirect Beneficial |
| | Beneficially Owned | Form: | Ownership (Instr. 5) |
| | (Instr. 4) | Direct (D) | |
| | | or Indirect | |
| | | (I)(Instr.5)| |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
|<S> |<C> |<C> |<C> |
| Common Stock | 3,822.59 (01) | I | 401(k) Plan |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
|------------------------------------------|-----------------------------|--------------|------------------------------------------|
| | | | |
| | | | |
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Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1473 (7-96)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v).
PAGE: 1 OF 2
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FORM 3 (continued) TABLE II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
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|1.Title of |2.Date Exercisable and |3.Title and Amount of Underlying |4.Conversion or |5. |6.Nature of |
| Derivative | Expiration Date | Derivative Security (Instr. 4) | Exercise Price |Own. | Indirect |
| Security | (Month/Day/Year) | | of Derivative |Form | Beneficial |
| (Instr. 4) | | | Security |of | Ownership |
| | | | |Deri.| (Instr. 5) |
| | | | |Sec. | |
| | | | |Dir. | |
| | | | |(D) | |
| |-----------------------------|--------------------------------------| |or | |
| |Date |Expiration | |Amount or Number | |Ind. | |
| |Exercisable |Date | Title |of Shares | |(I) | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|Stock Option | 11/18/1998 | 01/23/2005 |Common Stock | 9,207 | $18.1818 | D | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 11/18/1998 | 05/09/2005 |Common Stock | 1,485 | $19.8232 | D | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 11/18/1998 | 01/22/2006 |Common Stock | 14,857 | $13.5101 | D | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 11/18/1998 | 01/27/2007 |Common Stock | 14,949 | $14.1414 | D | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | 11/18/1998 | 01/19/2008 |Common Stock | 18,246 | $11.8687 | D | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
|Stock Option | | 12/28/2008 |Common Stock | 75,000 | $12.8125 | D | |
| | (02) | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
| | | | | | | | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
| | | | | | | | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
| | | | | | | | |
| | | | | | | | |
|-------------------|--------------|--------------|-------------------|------------------|-------------------|-----|---------------|
| | | | | | | | |
| | | | | | | | |
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Explanation of Responses:
(01) These shares were acquired at various times pursuant to the SSCC 401(k) Plan, and pursuant to the Stone Container Corpor
ation 401(k) Plan prior to Stone's merger with a subsidiary of the Company on November 18, 1998, and represent the
total shares of Company stock in the reporting person's account as of the date he first became a Section 16 reporting p
erson on July 1, 1999.
(02) The option vests no later than the eighth anniversary of the grant date, with the potential acceleration of up to one-fo
urth of the total option shares in any calendar year as certain stock price targets are attained and held for 30 consec
utive trading days during such year. The option was granted pursuant to the Smurfit-Stone Container Corporation 1998
Long Term Incentive Plan.
**Intentional misstatements or omissions of facts constitute Federal /s/Craig A. Hunt 07/08/1999
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------------------ ----------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. SEC 1473 (7-96)
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMD Number.
Eustice, William G. Smurfit-Stone Container Corporation 07/01/1999 PAGE: 2 OF 2
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