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International Paper Agrees to Sell 69,000 Acres of Wisconsin Forestland to The Nature Conservancy

Posted on: Wednesday, 29 March 2006, 15:00 CST

STAMFORD, Conn., March 29 /PRNewswire-FirstCall/ -- International Paper has agreed to sell 69,000 acres of forestland in Wisconsin to The Nature Conservancy, as part of IP's larger effort to explore selling some or all of its U.S. forestland. Proceeds from the sale are expected to total approximately $83 million. The agreement also includes a fiber supply agreement.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020701/IPLOGO )

The "Wild Rivers Legacy Forest" project represents the largest land conservation effort in Wisconsin's history and one that will protect working forests, public access for recreation, wildlife habitat, and water quality.

"International Paper is proud to be part of this important transaction in Wisconsin. It comes on the heels of our announcement yesterday to protect 218,000 acres of southern forestland, which was IP's largest conservation agreement ever. Today we continue our legacy of protecting forestlands here in Wisconsin. We applaud The Nature Conservancy and the state of Wisconsin's leaders for taking this important step to protect the state's forests," said David Liebetreu, International Paper vice president of forest resources.

Yesterday, International Paper, The Nature Conservancy, and The Conservation Fund announced a 218,000-acre, 10-state conservation project, which represents the largest single private conservation transaction in the history of the South. The $300 million project protects key lands clustered around some of the South's most ecologically important rivers and estuaries.

Private and non-profit conservation groups continue to express interest in additional International Paper land holdings, and the company will continue to explore those opportunities.

About International Paper

Headquartered in the United States, International Paper businesses include paper, packaging and forest products. As one of the largest private landowners in the world, IP professional foresters and wildlife biologists manage its forests with great care in compliance with the rigorous standards of the Sustainable Forestry Initiative(R) program. The SFI(R) program is an independent forest certification system that ensures the perpetual planting, growing and harvesting of trees while protecting biodiversity, wildlife, plants, soil, water and air quality. The company also has a long-standing policy of using no wood from endangered forests. On the Web at internationalpaper.com.

Photo: http://www.newscom.com/cgi-bin/prnh/20020701/IPLOGO

International Paper

CONTACT: Amy Sawyer, +1-203-253-6430; Investors - Darial Sneed,+1-203-541-8541 or Brian Turcotte, +1-203-541-8632

Web site: http://www.internationalpaper.com/

Source: PRNewswire-FirstCall

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