IP Sells Industrial Papers Business

PRESS RELEASE

STAMFORD, CT— International Paper has signed an agreement to sell its Industrial Papers Business to Kohlberg and Co., Mt. Kisco, NY, LLC for approximately $180 million. The Industrial Papers Business includes the lightweight packaging and p-s paper segments and related converting assets. The companies expect to close on the sale in the second quarter of 2005, subject to various closing conditions and any required regulatory approval.

Included in the Industrial Papers sale agreement are paper mills in DePere and Kaukauna, Wis.; the Akrosil business with paper converting facilities in Menasha, Wis., Lancaster, Ohio, and Heerlen, Netherlands; and Thilmany Packaging located at the Kaukauna Mill.

The agreement with Kohlberg also includes a supply contract for IP to produce lightweight specialty papers at its Androscoggin, Maine, Mill.

For more information, visit internationalpaper.com.



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