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Gurandiano To Join Smurfit-Stone As Chief Operating Officer

CHICAGO, April 17, 2000 -- Smurfit-Stone Container Corporation (Nasdaq: SSCC) announced today that Jay J. Gurandiano, president and chief executive officer of St. Laurent Paperboard Inc., will join Smurfit-Stone as chief operating officer following Smurfit-Stone's acquisition of St. Laurent Paperboard.

In the new post, Gurandiano's primary responsibility will be to oversee Smurfit-Stone's folding carton and boxboard, specialty packaging and bag packaging divisions and the specialty packaging operations of St. Laurent Paperboard. In addition, he will also be responsible for managing the development and marketing of mini-flute, protective packaging and Internet-based marketing. He will be based at Smurfit-Stone's Chicago headquarters. Smurfit-Stone's corrugated container, containerboard and reclamation businesses will continue to report to Ray Curran, president and chief executive officer.

Gurandiano has been president and chief executive officer of St. Laurent Paperboard since the company's inception in 1994. Prior to that he had served in a number of corporate and operating management positions with Avenor, including president of the company's Paperboard Group. He holds a bachelor's degree from Concordia University and a law degree from McGill University.

Smurfit-Stone announced on February 23 an agreement to acquire Montreal-based St. Laurent Paperboard. St. Laurent shareholders are scheduled to vote on the transaction at a special shareholders meeting on May 26. Assuming shareholder approval, the transaction is currently expected to close by the end of May.

Smurfit-Stone is the industry's leading manufacturer of paper and paperboard-based packaging, including containerboard, corrugated containers, industrial bags, and claycoated recycled boxboard; and is the world's largest paper recycler. In addition, Smurfit-Stone is a leading producer of solid bleached sulfate, folding cartons, paper tubes and cores, and labels. The company employs approximately 35,000 and operates about 300 facilities worldwide.

St. Laurent Paperboard is a leading North American producer, supplier and converter of high-quality, value-added specialty containerboard and high-impact graphics packaging, with more than 4,500 employees serving a diverse customer base in North America and selected international markets. In addition to its four mills and 17 packaging plants, the company also owns 920,000 acres of forestland in Quebec and solid wood products operations.