International Paper Completes Sale of 13 Lumber Mills to West Fraser Timber Co.

Memphis, Tennessee, USA, 02 April 2007 -- /PRNewswire/ -- International Paper (NYSE:IP) has completed the sale of 13 lumber mills to West Fraser Timber Co. Ltd. for approximately USD 325 million. The sale was announced in November 2006.

The transaction includes lumber mills in Citronelle, Maplesville, and Opelika, Alabama; Leola, Arkansas; McDavid and Whitehouse, Florida; Augusta and Folkston, Georgia; Armour and Seaboard, North Carolina; Newberry, South Carolina; and New Boston and Henderson, Texas. The mills employ approximately 2200 people and have a combined production capacity of approximately 1.8 billion board feet.

About International Paper

Headquartered in the United States, International Paper has been a leader in the forest products industry for more than 100 years. The company is currently transforming its operations to focus on its global uncoated papers and packaging businesses, which operate and serve customers in the United States, Europe, South America, and Asia, as well as xpedx, an extensive North American merchant distribution system. International Paper is committed to environmental, economic, and social sustainability, and has a long-standing policy of using no wood from endangered forests. To learn more, visit www.internationalpaper.com.

Source: International Paper