ATLANTA, Aug. 7 -- Georgia-Pacific Corp. today announced it has obtained a one-year, $650 million bridge financing commitment from Bank of America and Goldman, Sachs & Co. This bridge loan, along with available cash and borrowing from existing bank credit facilities, will be used to repay $850 million in bridge financing due Aug. 16, 2002. After repayment of the $850 million bridge loan, Georgia-Pacific will have approximately $900 million of available credit under its $3.75 billionrevolving credit facility. Also today, Georgia-Pacific announced that the senior deferrable notes issued in connection with the company's 7.5 percent Premium Equity Participating Security Units (PEPS Units) will not be re-marketed. The company issued $862.5 million in senior deferrable notes when it issued 17,250,000 PEPS Units in July 1999. Each PEPS Unit consists of a purchase contract that obligates the holder to purchase shares of Georgia- Pacific common stock on or prior to Aug. 16, 2002, and a senior deferrable note. The company will issue approximately 18.2 million shares of its common stock in settlement of the purchase contracts.