International Paper Announces $1.5 Billion Share Repurchase Program

     International Paper Announces $1.5 Billion Share Repurchase Program

Increases Cash Dividend 17% to $1.40 per share annually

PR Newswire

MEMPHIS, Tenn., Sept. 10, 2013

MEMPHIS, Tenn., Sept. 10, 2013 /PRNewswire/ --International Paper (NYSE: IP)
today announced its board of directors has authorized a share repurchase
program to acquire up to $1.5 billion of the company's common stock. The
company intends to repurchase such shares over the next 2-3 years in open
market repurchase transactions. Also today, the company announced its board
of directors is raising the company's quarterly dividend by 17%.

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"The authorization of this repurchase programand thedividend
increasereflect our continued confidence inInternational Paper'slong-term
profitabilityand sustainable free cash flow generation,"said John Faraci,
Chairman and Chief Executive Officer.  "International Paper continues to be
committed to a balanced use of cash in a way that maximizes value to our

The dividend is being increased 17% from $0.30 to $0.35 per share for the
period from October 1, 2013, to December 31, 2013, inclusive, on the company's
common stock, par value $1.00. This dividend is payable on December 16, 2013,
to holders of record at the close of business on November 15, 2013. The
company's board of directors also declared a regular quarterly dividend of
$1.00 per share for the period from October 1, 2013, to December 31, 2013,
inclusive, on the cumulative $4.00 preferred stock of the company. This
dividend is also payable on December 16, 2013, to holders of record at the
close of business on November 15, 2013.

About International Paper
International Paper (NYSE: IP) is a global leader in packaging and paper with
manufacturing operations in North America, Europe, Latin America, Russia, Asia
and North Africa. Its businesses include industrial and consumer packaging and
uncoated papers, 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 2012
were $28 billion. For more information about International Paper, its
products and stewardship efforts, visit

Repurchases of the company's common stock may be made from time to time in
open market transactions (including block trades), privately negotiated
transactions or otherwise. The timing, manner, price and amount of
repurchases will be determined by the company in its discretion based on
factors including the market price of the company's common stock, general
economic and market conditions and applicable legal requirements. The
repurchase program may be commenced, suspended or discontinued at any time.

Certain statements in this press release may be considered forward-looking
statements. These statements reflect management's current views and are
subject to risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in these statements. Factors which
could cause actual results to differ include but are not limited to: (i) the
level of our indebtedness and increases in interest rates; (ii) industry
conditions, including but not limited to changes in the cost or availability
of raw materials, energy and transportation costs, competition we face,
cyclicality and changes in consumer preferences, demand and pricing for our
products; (iii) global economic conditions and political changes, including
but not limited to the impairment of financial institutions, changes in
currency exchange rates, credit ratings issued by recognized credit rating
organizations, the amount of our future pension funding obligation, changes in
tax laws and pension and health care costs; (iv) unanticipated expenditures
related to the cost of compliance with existing and new environmental and
other governmental regulations and to actual or potential litigation; (v)
whether we experience a material disruption at one of our manufacturing
facilities; (vi) risks inherent in conducting business through a joint
venture; (vii) our ability to reach a definitive agreement on a mutually
acceptable transaction combining xpedx with Unisource, the receipt of
governmental and other approvals and favorable rulings associated with such a
transaction and the successful fulfillment or waiver of all other closing
conditions for such a transaction without unexpected delays or conditions, and
the successful closing of such a transaction within the estimated timeframe;
and (viii) our ability to achieve the benefits we expect from all strategic
acquisitions, divestitures and restructurings. These and other factors that
could cause or contribute to actual results differing materially from such
forward-looking statements are discussed in greater detail in the company's
Securities and Exchange Commission filings. We undertake no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise.

SOURCE International Paper

Contact: Media: Thomas J. Ryan, 901-419-4333; Investors: Jay Royalty,
901-419-1731; Michele Vargas, 901-419-7287
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