IP Sells Forestland

Published: April 20, 2006, By pffc-online.com

PRESS RELEASE

STAMFORD, CT—International Paper has signed an agreement with the Lyme Timber Co. for the benefit of the Lyme Forest Fund L.P. for the sale of approximately 275,000 acres of forestland in New York's Adirondack Park for approximately $137 million. Under the terms of this agreement, Lyme Timber will continue to provide wood fiber to International Paper's Ticonderoga, NY, paper mill for 20 years. The forestlands will continue to be sustainably managed and third-party certified under the requirements of the Sustainable Forestry Initiative Standard.

The sale of forestlands is part of International paper's previously announced transformation plan to focus on uncoated papers and industrial and consumer packaging globally. Anticipated proceeds from this and other recently announced sale agreements, totaling about 5.7 million acres, are approximately $6.6 billion. International Paper is retaining approximately 830,000 acres.

For more information, see internationalpaper.com.