RICHMOND, Va., Sept. 5 /PRNewswire/ -- James River Corporation (NYSE: JR)
announced it has completed the acquisition of the remaining minority interest
in Jamont N.V., bringing its ownership interest in this European consumer
products company to 100 percent.  James River paid $201.4 million to EuroPaper
Inc. to purchase EuroPaper's 13.6 percent ownership interest in Jamont.  The
purchase was made following EuroPaper's exercise of its rights pursuant to a
fixed-price put and call agreement between the two companies.
    With annual sales of approximately $1.7 billion, Jamont is a leading
producer of branded and private label tissue and foodservice products for the
retail and commercial markets in Europe.  Jamont also produces feminine
hygiene products, as well as various nonwoven products and pharmacy supplies.
Headquartered in Brussels, Belgium, Jamont currently operates 23 manufacturing
facilities located in ten European countries, and has sales offices in an
additional seven European countries.  Jamont is the third largest manufacturer
of towel and tissue products in Europe with an aggregate market share of
approximately 15 percent.  Many of Jamont's products hold the leading market
position in their respective countries.  Jamont's consumer products are sold
under well-known brand names such as Lotus bathroom tissue, which currently
occupies the leading position in the French market, Tenderly bathroom tissue
sold in Italy, and Colhogar bathroom tissue sold in Spain.
    Jamont was formed in 1990 when James River, Gruppo Ferruzzi of Italy, and
Nokia Corporation of Finland each contributed their existing European consumer
products businesses to the jointly-owned venture.  In 1993, Nokia's interest
in Jamont was purchased by EuroPaper, and James River and EuroPaper entered
into a fixed-price put and call agreement related to these shares.   In 1994,
James River doubled its ownership interest in Jamont from 43.2 percent to 86.4
percent, when it acquired the interest originally owned by Gruppo Ferruzzi.
    The purchase price paid to EuroPaper was funded with a portion of the
proceeds recently received by James River from the sale of its Flexible
Packaging division.  On a pro forma basis, based on Jamont's results for the
first six months of 1996, this transaction would have been nominally accretive
to James River's earnings.
    James River Corporation, headquartered in Richmond, Va., is a leading
marketer and manufacturer of consumer products, packaging, and business,
printing and converting papers.  In North America, the company markets
diversified brands such as Quilted Northern bathroom tissue, Brawny paper
towels, Dixie paper cups and plates, Quilt-Rap sandwich wrap, Qwik Wave
microwave packaging, Eureka! recycled copy paper and Word Pro copy paper.  In
addition, the company produces a number of popular European brands such as
Lotus towel and tissue products.  James River's current annual sales rate is
approximately $5.5 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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