RICHMOND, Va., Feb. 13 /PRNewswire/ -- Fort James Corporation (NYSE: FJ)
announced today the pricing of a secondary offering of 14.4 million Fort James
common shares owned by First Plaza Group Trust and Morgan Stanley, Dean
Witter, Discover & Co. and certain of its affiliates. The shares are being
offered at a price of $43.1875 per share. First Plaza Group Trust (a trust
for the benefit of certain employee benefit plans of General Motors
Corporation and its subsidiaries) is selling approximately 8.07 million common
shares, which represent all of the shares held by First Plaza Group Trust. In
response to strong investor demand, Morgan Stanley is electing to sell its
entire position of approximately 6.35 million common shares in the offering.
Fort James shares are listed on the New York Stock Exchange. The
company's trading symbol is FJ.
Morgan Stanley Dean Witter is the managing underwriter of the offering
with Merrill Lynch & Co. and Salomon Smith Barney acting as co-managers.
A written prospectus relating to the offering may be obtained from Morgan
Stanley Dean Witter.
The offering is being made both in the U.S. and in Europe. The company
will not receive any proceeds from the sale of shares by these selling
shareholders.
Fort James is a leading international consumer products company, serving
consumers both at home and away-from-home with bathroom and facial tissue,
paper towels, napkins, and cups and plates. The company's popular brands
include Quilted Northern, Brawny, Dixie, Vanity Fair, Mardi Gras, Green
Forest, Soft 'N Gentle and So-Dri in North America and Lotus, Tenderly,
Colhogar and Kittensoft in Europe. Fort James also produces folding cartons
for packaging food and pharmaceuticals and communications papers such as
printing, publishing and office copy paper. The company has approximately
30,000 employees and more than 65 manufacturing facilities in the U.S., Canada
and 10 European countries.
Copies of today's news release, along with additional information on Fort
James, is available, at no charge, by calling 888-526-3711. You may also
access the company's Web site at Internet address http://www.fortjames.com.
SOURCE Fort James Corporation
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Related links:
http://www.fortjames.com
CONTACT:
Celeste Gunter of Fort James, 804-649-4307
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