International Paper Completes Acquisition of Sabanci Shares in Olmuksa Corrugated Packaging Joint Venture in Turkey, Becomes

    International Paper Completes Acquisition of Sabanci Shares in Olmuksa
  Corrugated Packaging Joint Venture in Turkey, Becomes Majority Shareholder

  PR Newswire

  MEMPHIS, Tennessee, Jan. 3, 2013

MEMPHIS, Tennessee, Jan. 3, 2013 /PRNewswire/ --International Paper today
announced it has completed the acquisition of the shares of its joint venture
partner Sabanci Holding in the Turkish corrugated packaging company Olmuksa,
for a purchase price of $56 million. International Paper had obtained
regulatory approval for the deal in the fourth quarter of 2012. The deal sees
International Paper become the majority shareholder, owning approximately 87.5
percent of Olmuksa's outstanding shares. The change of control triggers a
mandatory call for tender of the remaining public shares (approximately 12.5
percent float) of Olmuksa, which will be conducted in line with the
regulations of the Turkish Capital Markets Board.

(Logo: http://photos.prnewswire.com/prnh/20020701/IPLOGO )

"Packaging is a core business for International Paper and this deal follows
our commitment to expand profitably our strong global platform and regional
presence," said Maximo Pacheco, President of International Paper Europe,
Middle East & Africa. He added "It is an exciting opportunity to grow and
serve our customers in a strategically important geography."

The Turkish corrugated market is currently the 7th largest in Europe with
expected continued average growth rates of greater than 5% annually. The
country is also strategically positioned to serve as potential growth platform
to the Middle-East.

About International Paper

International Paper (NYSE: IP) is a global paper and packaging company with
manufacturing operations in North America, Europe, Latin America, Russia, Asia
and North Africa. Its businesses include uncoated papers and industrial and
consumer packaging, complemented by xpedx, the company's North American
distribution company. Headquartered in Memphis, Tenn., the company employs
approximately 70,000 people and is strategically located in more than 24
countries serving customers worldwide. International Paper net sales for 2011
were $26 billion. Temple-Inland Inc., which was acquired in February 2012, had
2011 net sales of $4 billion. For more information about International Paper,
its products and stewardship efforts, visit internationalpaper.com.

Website: http://www.internationalpaper.com
Contact: Media: Thomas J. Ryan, +1-901-419-4333; Investors: Glenn Landau,
+1-901-419-1731 and Michele Vargas, +1-901-419-7287
 
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