<B>Republic Group Considering Strategic Alternatives</B>

Republic Group Inc. announced that J.P. Morgan Securities Inc. is acting as its financial advisor to assist the company in exploring various strategic alternatives to enhance stockholder value. The review will consider possible mergers, asset sales or other business combinations, as well as continuing to execute its current business plan Republic Group Inc. and its wholly owned operating subsidiaries -- Republic Paperboard Co., Republic Fiber Co., and Republic Gypsum Co. -- are manufacturers and marketers of 100 percent recycled paperboard, recovered paper fiber and gypsum wallboard.
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Equipment Report

July 2000
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