International Paper Declares Dividends

MEMPHIS, Tenn., Jan. 8 /PRNewswire-FirstCall/ -- International Paper (NYSE: IP) today declared a regular quarterly dividend of $0.25 per share for the period from Jan. 1, 2008, to March 31, 2008, inclusive, on its common stock, par value $1. This dividend is payable on March 14, 2008, to holders of record at the close of business on Feb. 15, 2008.

Today the company also declared a regular quarterly dividend of $1 per share for the period from Jan. 1, 2008, to March 31, 2008, inclusive, on the cumulative $4 preferred stock of the company. This dividend is also payable on March 14, 2008, to holders of record at the close of business on Feb. 15, 2008.

About International Paper

International Paper (NYSE: IP) , founded in 1898, is a global uncoated paper and packaging company with primary markets and manufacturing operations in North America, Europe, Russia, Latin America, Asia and North Africa. Its uncoated papers and packaging businesses are complemented by xpedx, North America's largest distributor of printing papers and graphics supplies and equipment. Headquartered in the United States, International Paper employs approximately 54,000 people in more than 20 countries, and serves customers worldwide. Annual sales are about $22 billion. International Paper partners with customers and environmental, academic, civic and governmental organizations, as well as landowners and harvesting professionals, to encourage responsible forest stewardship, improve the health and productivity of forestlands and increase recovery of our recyclable products. The company has a long-standing policy of using no wood from endangered forests. To learn more about International Paper, its products and commitment to economic, social and environmental sustainability, visit www.internationalpaper.com.