<B>IP Looking to Sell Fine Papers Business</B>

International Paper announced its plan to sell the company's Fine Papers business. The sale is being undertaken in conjunction with the company's recent announcement to divest $3 billion in operational assets that no longer fit its long-term strategic objectives.

"Fine papers division is a profitable business with strong industry brands. We believe it will be very attractive to another company where there is a strategic fit," said Tom Kadien, vice president, Commercial Printing and Fine Papers. "Our intent is to sell Fine Papers division as an ongoing operation. Our goal is to find a buyer and transition the business to new ownership as quickly and efficiently as possible."

According to Kadien, Fine Papers employees will be provided support, and frequent communications throughout the transition. "The decision to sell Fine papers business was a difficult one for the company and we recognize that it has created uncertainty for numerous employees and their families," he said. "International Paper is committed to providing assistance and support to affected employees during the sale and transition to a new owner. We know that a stable work force and retention of employees is key to sustaining the business's operations and helping to attract a buyer."

The Fine Papers division manufactures and markets premium text, cover, business correspondence and artist papers sold under the Beckett, Strathmore, and Hammermill Premium brand names.