RICHMOND, Va., April 24 /PRNewswire/ -- The Board of Directors of James
River Corporation (NYSE: JR) today declared a quarterly dividend of $.15 per
share on the issued and outstanding shares of common stock of the corporation.
The dividend is payable on June 30, 1997, to shareholders of record at the
close of business on June 16, 1997.
    The Board also declared quarterly dividends on each of the company's
outstanding preferred stocks, as follows:

                                      Per Share
    Preferred Series                   Amount    Record Date    Payment Date
    Series K $3.375 Cumulative
     Convertible Exchangeable         $.84375   July 18, 1997  August 1, 1997
    Series L $14.00 Cumulative
     Convertible Exchangeable  (a)      $.875   June 17, 1997    July 1, 1997
    Series N $14.00 Cumulative
     Convertible Exchangeable  (a)      $.875   June 17, 1997    July 1, 1997
    Series O 8-1/4% Cumulative  (a)  $.515625   June 17, 1997    July 1, 1997
    Series P 9% Cumulative
     Convertible  (a)                $.388125   June 17, 1997   July 1, 1997

    (a)  The Series L, Series N, Series O and Series P preferred stocks are
held in the form of depositary shares.  Each depositary share represents
either a one-quarter interest in a share of preferred stock (Series L and
Series N), a one-twentieth interest in a share of preferred stock (Series O)
or a one-hundredth interest in a share of preferred stock (Series P).  Listed
per share dividend amounts represent dividends per depositary share.

    James River Corporation, headquartered in Richmond, Va., is a leading
marketer and manufacturer of paper-based consumer products, packaging, and
business, printing and converting papers.  The second largest worldwide
producer of tissue products, James River markets such leading brands as
Quilted Northern bathroom tissue, Brawny paper towels, Vanity Fair napkins,
and Dixie cups and plates in North America, and Lotus bathroom tissue, towels,
and facial tissue in Europe.  The company also markets Quilt-Rap sandwich
wrap, Qwik Wave microwave packaging, and Eureka! and Word Pro copy papers.
James River's current annual sales rate is approximately $5.6 billion.
    Today's news release, along with past releases from James River, is
available by fax, at no charge, by calling 800-758-5804, ext. 457350.  You may
access James River's corporate-wide site at Internet address
http://www.jamesrivercorp.com.

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