ATLANTA, Georgia. October 31, 2000 -- Georgia-Pacific Resins and Celanese Chemicals announced today that Georgia-Pacific has acquired the formaldehyde business that is serviced by a Celanese facility at Rock Hill, S.C.

According to the long-term manufacturing agreement, Georgia-Pacific will utilize the output of the formaldehyde plant to supply third parties including current customers of the Rock Hill facility and for its internal needs. Celanese will retain all production assets and provide continued employment to its employees.

The Rock Hill facility has a production capacity of 140 million pounds of formaldehyde per year based on a 37 percent solution. Based in Dallas, Texas, Celanese Chemicals consists of the Acetyls and Chemical Intermediates segments of Celanese AG. Celanese AG is a global chemicals company with leading positions in its key products and world class process technology.

Georgia-Pacific Resins, which is the chemical division of Georgia-Pacific Corp., is one of the nation’s leading manufacturers of chemical products for the building products and pulp and paper industries as well as other industrial manufacturing processes. It has a strong market position in the United States and is recognized for its world-class technologies. Georgia-Pacific operates 19 chemical manufacturing operations and related research facilities and is a joint venture partner with other companies in South Africa and South America.

Headquartered at Atlanta, Georgia-Pacific Corp. (www.gp.com) is one of the world’s leading manufacturers and distributors of pulp, paper and related chemicals and the leading manufacturer and distributor of building products in the United States. The company employs more than 50,000 people at more than 500 locations in North America.