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                                                                 Exhibit 99(a)
 
                            RIVERWOOD HOLDING, INC.
           RECONCILIATION OF INCOME (LOSS) FROM OPERATIONS TO EBITDA
                           (In thousands of dollars)
                                  (unaudited)
 
<TABLE>
<CAPTION>
                                                                                 U.S.
                                                                             Timberlands/
                                                   Coated                        Wood
Company                                            Board     Containerboard    Products     Corporate     Total
-----------------------------------------------  ----------  --------------  ------------  -----------  ----------
<S>                                              <C>         <C>             <C>           <C>          <C>
 
Third Quarter 1997:
 
Income (Loss) from Operations..................  $   17,996    $   (6,385)        --        $  (4,096)  $    7,515
 
Depreciation and amortization..................      23,969         3,397         --              265       27,631
 
Purchased asset costs (A)......................       6,724           911         --           --            7,635
 
Other non-cash charges (B).....................         499            75         --              986        1,560
 
Dividends from equity investments..............      --            --             --            1,022        1,022
                                                 ----------  --------------  ------------  -----------  ----------
 
Pro Forma EBITDA (C)...........................  $   49,188    $   (2,002)        --        $  (1,823)  $   45,363
                                                 ----------  --------------  ------------  -----------  ----------
                                                 ----------  --------------  ------------  -----------  ----------
 
Third Quarter 1996:
 
Income (Loss) from Operations..................  $   20,563    $  (12,207)    $   --        $  (5,312)  $    3,044
 
Income from discontinued operations............      --            --             17,453       --           17,453
 
Depreciation, amortization and cost of timber
  harvested....................................      17,484         4,644          2,241          475       24,844
 
Purchased asset costs (A)......................       7,021           700          1,138           87        8,946
 
Other non-cash charges (B).....................       1,506          (535)         1,313           36        2,320
 
Dividends from equity investments..............      --            --             --              696          696
                                                 ----------  --------------  ------------  -----------  ----------
 
Pro Forma EBITDA (C)...........................  $   46,574    $   (7,398)    $   22,145    $  (4,018)  $   57,303
                                                 ----------  --------------  ------------  -----------  ----------
                                                 ----------  --------------  ------------  -----------  ----------
 
First Nine Months 1997:
 
Income (Loss) from Operations..................  $   53,082    $  (31,923)        --        $ (15,137)  $    6,022
 
Depreciation and amortization..................      67,850        11,144         --              912       79,906
 
Purchased asset costs (A)......................      18,810         2,733         --           --           21,543
 
Other non-cash charges (B).....................       1,777         3,295         --            2,836        7,908
 
Dividends from equity investments..............      --            --             --            2,717        2,717
                                                 ----------  --------------  ------------  -----------  ----------
 
Pro Forma EBITDA (C)...........................  $  141,519    $  (14,751)        --        $  (8,672)  $  118,096
                                                 ----------  --------------  ------------  -----------  ----------
                                                 ----------  --------------  ------------  -----------  ----------
</TABLE>
 
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<TABLE>
<CAPTION>
                                                                                  U.S.
                                                                              Timberlands/
                                                    Coated                        Wood
                                                     Board    Containerboard    Products     Corporate     Total
                                                   ---------  --------------  ------------  -----------  ---------
<S>                                                <C>        <C>             <C>           <C>          <C>
 
Six Months Ended Sept. 28, 1996:
 
Income (Loss) from Operations....................  $  40,331    $  (19,467)    $   --        $ (11,708)  $   9,156
 
Income from discontinued operations..............     --            --             32,809       --          32,809
 
Depreciation, amortization and cost of timber
  harvested......................................     38,779         8,964          4,191        1,147      53,081
 
Purchased asset costs (A)........................     16,898         1,917          1,982           46      20,843
 
Other non-cash charges (B).......................      3,012        (1,076)         2,097          116       4,149
 
Dividends from equity investments................     --            --             --            2,104       2,104
                                                   ---------    ----------     ----------    ---------   ---------
 
Pro Forma EBITDA (C).............................  $  99,020    $   (9,662)    $   41,079    $  (8,295)  $ 122,142
                                                   ---------    ----------     ----------    ---------   ---------
                                                   ---------    ----------     ----------    ---------   ---------

Predecessor
------------------------------------------------------------------------------------------------------------------
 
First Quarter 1996:
 
Income (Loss) from Operations....................  $  24,638    $   (5,955)    $   13,868    $ (16,901)  $  15,650
 
Depreciation, amortization and cost of timber
  harvested......................................     17,800         4,332          1,735          571      24,438
 
Other non-cash charges (B).......................      1,265           261            945          232       2,703
 
Dividends from equity investments................     --            --             --            -          --
 
Pro forma adjustments............................      3,471           120            218        9,533      13,342
                                                   ---------       -------    ------------  -----------  ---------
 
Pro Forma EBITDA (C).............................  $  47,174    $   (1,242)    $   16,766    $  (6,565)  $  56,133
                                                   ---------       -------    ------------  -----------  ---------
                                                   ---------       -------    ------------  -----------  ---------
</TABLE>
 
------------------------
 
Notes:
 
(A) Certain expenses and costs are excluded from the Company's Income (Loss)
    from Operations in determining EBITDA (as defined below), including
    amortization, depreciation or expenses associated with the write-up of
    inventory, fixed assets and intangible assets in accordance with APB 16 and
    APB Opinion No. 17, "Intangible Assets", collectively referred to as the
    "Purchased asset costs."
 
(B) Other non-cash charges include non-cash charges deducted for LIFO inventory
    reserves, pension, postretirement and postemployment benefits, depletion of
    prepaid timber and amortization of premiums on hedging contracts in
    determining net income other than Purchased asset costs (see above).
 
(C) Pro Forma EBITDA is defined as consolidated net income (exclusive of
    non-cash charges resulting from purchase accounting during the first quarter
    of 1997) before consolidated interest expense, consolidated income taxes,
    consolidated depreciation and amortization, cost of timber harvested and
    other non-cash charges deducted in determining consolidated net income and
    extraordinary items and the cumulative effect of accounting changes and
    earnings of, but including dividends from, non-controlled affiliates, and
    calculated on a pro forma basis to exclude Other Costs (see Note 6 in Notes
    to Condensed Consolidated Financial Statements) of the Predecessor. The
    Company believes that EBITDA provides useful information regarding the
    Company's debt service ability, but should not be considered in isolation 
    or as a substitute for the Condensed Consolidated Statements of Operations 
    or cash flow data.