Boise Cascade Office Products Corporation Computation of Per Share Earnings For the Three Months Ended March 31 1997 1996 (in thousands, except share information) EARNINGS PER SHARE Shares of common stock Weighted average shares outstanding 62,844,398 62,305,746 Net income $ 14,909 $ 15,563 Earnings per share $ .24 $ .25 FULLY DILUTED EARNINGS PER SHARE Shares of common stock Weighted average shares outstanding 62,844,398 62,305,746 Dilutive effect of options 159,181 256,906 Dilutive effect of contingent shares 458,094 493,498 Fully diluted weighted average shares outstanding 63,461,673 63,056,150 Net income $ 14,909 $ 15,563 Fully diluted earnings per share(1) $ .23 $ .25 (1) Fully diluted earnings per share for the periods presented are not disclosed in the financial statements because the amounts are not considered dilutive under the provisions of Accounting Principles Board Opinion No. 15, "Earnings Per Share."