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Georgia-Pacific Board Elects Executive VP, Declares Regular Quarterly Dividends

Press release from the issuing company

ATLANTA, Aug. 2 - Georgia-Pacific Corp.'s board of directors today elected David J. Paterson executive vice president - pulp and paperboard, and declared regular quarterly dividends on the company's two classes of common stock. Paterson, a 14-year Georgia-Pacific veteran, formerly was president - paper and bleached board with responsibility for sales and manufacturing within Georgia-Pacific's communication papers business. The stand-alone portion of the company's communication papers business is being sold to Domtar Inc. this month. In his new role, Paterson will have management responsibility for the company's containerboard, packaging, and market and fluff pulp operations. He succeeds Stephen E. Macadam, who has departed the company to pursue another opportunity. Also today, the board approved dividends of 12.5 cents per share for Georgia-Pacific Group and 25 cents per share for The Timber Company. The dividends are payable Aug. 22, 2001, to shareholders of record Aug. 13, 2001. Georgia-Pacific's common stock was redesignated in December 1997 to reflect separately the performance of the company's manufacturing and distribution businesses, which are known as Georgia-Pacific Group. A separate class of common stock reflects the performance of the corporation's timber operating group, known as The Timber Company. Paterson joined the company in 1987 as export sales manager - containerboard, and later held positions of increasing responsibility in the company's pulp business. In 1994, he was named vice president - sales and marketing, pulp and bleached board. He served as vice president of the company's market pulp operations between 1995 and 2000. During 2000, he led the company's e-commerce efforts as vice president - electronic commerce, and later was promoted to senior vice president - paper. Prior to joining Georgia-Pacific, Paterson worked with Continental Forest Industries and Southwest Forest Industries. He holds a bachelor's degree from Cornell University and a master's in business administration from the University of Michigan. Reporting to Paterson are Simon H. Davies, president - market pulp; Steven J. Klinger, president - packaging; W. Wesley Jones, president - fluff pulp; Asa D. Hardison, senior vice president - containerboard manufacturing; and Christian Fischer, vice president - containerboard sales. Thomas E. Single, vice president - strategic sourcing and procurement, who previously reported in the pulp and paperboard organization, will now report to John F. Rasor, executive vice president - wood procurement, gypsum and industrial wood products. Georgia-Pacific will announce at a later date a successor to Paterson, who also held responsibility for the company's kraft paper sales and bleached board businesses.

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