<B>G-P Warns of Earnings Miss</B>

Georgia-Pacific Corp. warned that its current quarter earnings will be far less than what was originally forecast. The announcement follows by one day a similar warning by International Paper over missed earnings.

G-P said that the building products manufacturing segment of its Georgia-Pacific Group unit would operate at a loss for the quarter for the first time since 1991.

Operating results in these businesses have been affected by plant closures and weaker demand and pricing, particularly lumber, structural panels and gypsum," said the company's statement.

G-P added that downtime at pulp, paper and containerboard mills, higher energy costs at its Washington tissue mill and packaging and gypsum operations as reasons for the expected lower earnings.

The company also announced that it would take a charge for its recently completed acquisition of Fort James, as well as for a number of facilities that it has closed.

G-P, the largest tissue producer in the world, is in the midst of absorbing its Fort James acquisition, as well as selling off a number of its tissue mills as part of an agreement with the Department of Justice.

Further, the company is shedding a number of its older, less efficient operations. Recently the company announced that it is closing one of its Michigan operations due to tough markets for the finished product.