EXHIBIT 12

                             FORT HOWARD CORPORATION

             DEFICIENCY OF EARNINGS AVAILABLE TO COVER FIXED CHARGES
                                  (In thousands)
   

                                                   For the Years Ended
                                                       December 31,               
                                 --------------------------------------------------------
                                 1994         1993         1992         1991         1990
                                 ----         ----         ----         ----         ----
                                                                   
Earnings:
  Loss before taxes........ $(61,016)      $(2,056,432)  $ (69,800)   $ (97,999)   $(119,659)
  Interest expense.........  337,701           342,792     338,374      371,186      422,663 
  One-fourth of operating 
    lease rental expense...    1,881             1,731       1,632        1,356        1,435
                            --------       -----------    ---------    ---------   ---------

                            $278,566       $(1,711,909)   $ 270,206   $ 274,543    $ 304,439
                            ========       ===========    =========   =========    =========

Fixed Charges:
  Interest expense......... $337,701           342,792    $ 338,374    $ 371,186    $ 422,663
  Capitalized interest.....    4,230             8,369       11,047        5,331        3,503
  One-fourth of operating
    lease rental expense...    1,881             1,731        1,632        1,356        1,435
                            --------       -----------    ---------    ---------    ---------

                            $343,812       $   352,892    $ 351,053    $ 377,873    $ 427,601
                            ========       ===========    =========    =========    =========

Deficiency of Earnings 
  Available to Cover 
  Fixed Charges (1)........ $(65,246)      $(2,064,801)   $ (80,847)   $(103,330)   $(123,162)
                            ========       ===========    =========    =========    ========= 


(1)   For purposes of these computations, earnings consist of consolidated 
loss before taxes plus fixed charges (excluding capitalized interest) of both 
consolidated and unconsolidated subsidiaries.  Fixed charges consist of 
interest on indebtedness (including capitalized interest and amortization of 
deferred loan costs) plus that portion (deemed to be one-fourth) of operating 
lease rental expense representative of the interest factor.