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Smurfit-Stone Announces Closure of
Orangeburg Sawmill

CHICAGO, November 1, 2000 -- Smurfit-Stone Container Corporation (Nasdaq: SSCC) has announced its intent to discontinue operations at its Orangeburg, SC, sawmill. The sawmill produces approximately 45 million board feet of dimension lumber per year. Dimension lumber is used primarily in house framing. The decision to discontinue operations at Orangeburg followed extensive review of dimension lumber market conditions. The company plans to finish manufacturing lumber in December and sell remaining inventory and equipment next year. The Orangeburg mill employs 93 people - 10 salaried and 83 hourly.

 


Smurfit-Stone Container Corporation is the premier manufacturer of paper- and paperboard-based packaging. Smurfit-Stone holds industry-leading positions in the production of containerboard (including white-top linerboard and recycled medium), corrugated containers, industrial bags, and clay-coated recycled boxboard; and is the world's largest paper recycler. In addition, Smurfit-Stone is a leading producer of folding cartons, solid bleached sulfate, paper tubes and cores, and labels. The company operates more than 300 facilities worldwide and employs approximately 40,000 people.