<B>IP Sells Former Champion Headquarters</B>

International Paper Co. has sold the former office of Champion International for $105 million in cash. The company, which had acquired the 15-floor office when it bought Champion this past June, will move its headquarters to the Stamford, Conn., location.

As part of the sale, IP negotiated a long-term deal to lease back the building's top four floors. The building will also retain the International Paper Corp. sign, and the company will move about 140 headquarter employees to the Stamford, Conn., office.