Georgia-Pacific completes acquisition of OSB Mills in Canada and South
Carolina

ATLANTA, May 26 /CNW/ - Georgia-Pacific today announced that it has completed the purchase of Grant Forest Products' oriented strand board (OSB) facility at Englehart, Ontario, as well as the associated facility at Earlton, Ontario, and OSB facilities at Allendale and Clarendon, S.C. The acquisition, first announced in January, totaled approximately $400 million USD.

"This acquisition represents a long-term, strategic investment by Georgia-Pacific, which will add value to our customers and our existing operations in Canada and the United States," said Mark Luetters, President - Georgia-Pacific Wood Products. "Georgia-Pacific is committed to working closely with employees, customers and suppliers as well as local government and business to ensure that the transition is as smooth and seamless as possible. We look forward to hitting the ground running and maximizing the potential of these facilities."

Georgia-Pacific OSB products include BlueRibbon(R) rated sheathing and sub-floor, Thermostat(R) OSB radiant barrier sheathing, DryGuard(R) enhanced OSB sub-floor and Nautilus(R) wall sheathing with pre-applied house wrap. The company also will offer many of the additional products made at the new facilities, including larger panels.

The process for the acquisition has involved a series of governmental approvals on both sides of the U.S. and Canadian border. These have included the Canadian court overseeing the Grant Forest Products Companies' Creditors Agreement Act filing, the Canadian Competition Bureau, the United States Federal Trade Commission Investment Canada and the U.S. Bankruptcy Court in Delaware.

Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of building products, tissue, packaging, paper, cellulose and related chemicals. The company employs more than 40,000 people at more than 300 locations in North America, South America and Europe. Georgia-Pacific creates long-term value by using resources efficiently to provide innovative products and solutions that meet the needs of customers and society, while operating in a manner that is environmentally and socially responsible and economically sound. The company has long been among the nation's leading manufacturers and suppliers of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers, with brands such as Plytanium(R) plywood, DryPly(R) water repellent plywood, Ply-Bead(R) panels and Wood I Beam(TM) and XJ 85(TM) joists offered by Georgia-Pacific Wood Products LLC. DensArmor Plus(R) interior panels, DensGlass(R) Sheathing and ToughRock(R) drywall are offered by Georgia-Pacific Gypsum LLC. The familiar consumer tissue brands of Georgia-Pacific Consumer Products LP include Quilted Northern(R), Angel Soft(R), Brawny(R), Sparkle(R), Soft 'n Gentle(R), Mardi Gras(R), So-Dri(R) and Vanity Fair(R). Dixie Consumer Products LLC, a Georgia-Pacific company, manufactures the Dixie(R) brand of tabletop products. For more information, visit www.gp.com

For further information: Media Contacts, James Malone, [phone]; Steve MacKinnon, (French Media), [phone]