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To: Larry S. who wrote (35616)	12/10/2001 11:24:11 AM
From: BWAC	Respond to of 53068

GP is another that is caught up in this asbestos witchhunt deal. Down 20% Friday. Down some more today. --------------------------- Monday December 10, 8:49 am Eastern Time Press Release SOURCE: Georgia-Pacific Corp. Georgia-Pacific Reiterates Details on Asbestos Liabilities ATLANTA, Dec. 10 /PRNewswire/ -- Georgia-Pacific Corp. (NYSE: GP - news) today confirmed its Friday comment, which said ``there has been no recent event which has affected its present or foreseeable future liabilities from personal- injury claims related to exposure to asbestos-containing products.'' The company also reiterated the following details in connection with Friday's trading activity: * Substantially all of the amounts Georgia-Pacific has paid to date to defend and resolve asbestos claims have been covered by product liability insurance, and the small part of such amounts that it has paid, net of insurance, has not been material to Georgia-Pacific in any fiscal period. * Georgia-Pacific has agreements with its insurers to utilize insurance in amounts it believes are adequate to cover substantially all of the defense costs and liabilities for currently pending claims. * In addition to the insurance coverage it is presently using, Georgia- Pacific has further insurance coverage that it has not begun to utilize. While all of such coverage may not ultimately be available to the corporation, Georgia-Pacific anticipates such insurance will be considerably more than the amount now available to it. As a result, Georgia-Pacific believes that its insurance will be adequate to cover, for some period of years, a substantial part of the defense costs and liabilities it may incur from claims filed against it in the future, depending on the number of claims filed each year and the average costs of resolving such claims. * For claims filed in the future, the part of defense costs and liabilities not covered by this additional insurance could be material to operating results in any given quarter or year, but is not expected to have a material adverse effect on the long-term results of operations, liquidity or consolidated financial position of Georgia- Pacific. Bestwall Gypsum Corp., which Georgia-Pacific acquired in 1965, manufactured a variety of gypsum products, some of which, principally joint systems products, contained asbestos fiber. Georgia-Pacific discontinued using asbestos in the manufacture of these products in 1977, and since then has manufactured no products containing asbestos. Beginning in the mid 1980s, lawsuits were filed against Georgia-Pacific on behalf of plaintiffs alleging that they had suffered lung and other diseases as a result of exposure to these products. As of Sept. 30, 2001, the corporation was defending the claims of approximately 62,000 such plaintiffs. Nearly all of these unresolved claims are pending in state courts across the United States, with the majority pending in the states of Maryland, New York, Texas, West Virginia, and Ohio. To date, a total of approximately 290,000 asbestos claims have been filed. Georgia-Pacific resolves these claims for amounts it considers reasonable given the facts and circumstances of each case; approximately 228,000 of such claims have been settled and dismissed, or are in the process of being dismissed, for an average amount which is insignificant. In many of these claims the plaintiffs were unable to demonstrate they have any compensable injury. Many plaintiffs were also unable to show that any injuries they have resulted from exposure to the corporation's products. Over the last three years, an average of about 40,000 new claims have been filed against Georgia-Pacific each year, and the corporation does not anticipate that these filings will diminish for the foreseeable future. The number of claims made against Georgia-Pacific, and the average cost of resolving each such claim, has increased somewhat over the last three years. Each quarter, Georgia-Pacific determines the amount to be reserved on its balance sheet for the liabilities and defense costs of currently pending cases. These reserves are based on Georgia-Pacific's estimation of the costs to defend and settle each case. At the same time the corporation establishes a receivable on its balance sheet for the amount of insurance which it expects to recover for the defense costs and liabilities so incurred. Currently, the total net amount reserved by the corporation, after such insurance receivable, for all asbestos cases pending against is approximately $10 million.

To: Larry S. who wrote (35616)	12/10/2001 11:29:34 AM
From: BWAC	Respond to of 53068

Like Greenlaw says, I bet half the DOW stocks have some exposure. GE? Dupont DD? CAT? GM? IP? MMM? UTX? HON?

To: Larry S. who wrote (35616)	12/10/2001 11:52:37 AM
From: BWAC	Read Replies (1) \| Respond to of 53068

AOL now at $31.35?

To: Larry S. who wrote (35616)	12/10/2001 12:06:33 PM
From: GREENLAW4-7	Read Replies (2) \| Respond to of 53068

FWC, from my research used asbestos in the manufacturing of STEAM BOILERS. The problem is that it was EXTENSIVE usage of the product and in various degrees. I believe they may have a problem just chapter 11 in one division and keeping the parent alone and safe. MDR had a similar problem as HAL and they just broke off the division and filed that under chapter11. Again MDR, and FWC are 85-100% liable parties to the act. Where HAL should be grouped as a 35% liable party if that, and also far removed from actual party that had DUTY to protect!! If you understand NEGLIGENCE, then its a lot easier to know why HAL's problem is NOTHING compared to USG, GRA, FMO, ACK, CCK, and MDR