/C O R R E C T I O N -- International Paper/

                 /C O R R E C T I O N -- International Paper/

PR Newswire

MEMPHIS, Tenn., June 20, 2014

In the news release, International Paper Company Announces Definitive
Distribution Ratio for the Spinoff of its xpedx Distribution Business, issued
June 20, 2014 by International Paper over PR Newswire, we are advised by the
company that the first paragraph, second sentence, should read "0.01909025"
rather than "0.0188" as originally issued inadvertently. The last paragraph
has also been revised. The complete, corrected release follows:

  International Paper Company Announces Definitive Distribution Ratio for the
  Spinoff of its xpedx Distribution Business

MEMPHIS, Tenn., June 20, 2014 /PRNewswire/ --International Paper (NYSE: IP)
today announced the definitive distribution ratio for the spinoff of its
distribution solutions business, xpedx. Subject to the satisfaction of
certain conditions, International Paper stockholders will receive on the
distribution date, July 1, 2014,0.01909025 shares of Veritiv Corporation
("Veritiv") common stock (NYSE: VRTV) for each share of International Paper
common stock they owned as of 5:00 p.m., New York City time, on June 20, 2014,
the record date set by International Paper's board of directors. 

International Paper logo.

International Paper shareholders will not receive fractional shares of Veritiv
common stock. Instead, fractional shares of Veritiv common stock will be
aggregated and sold in the open market, with the net proceeds distributed pro
rata in cash payments to the International Paper shareholders who would
otherwise receive a fractional share of Veritiv common stock.

The closing of the spinoff of International Paper's distribution business,
xpedx, and the subsequent merger with UWW Holdings, Inc., the parent company
of Unisource Worldwide, Inc., are scheduled to occur on July 1, 2014. Veritiv
common stock began trading on a "when-issued" basis on the NYSE under the
symbol "VRTV WI" on June 18, 2014. On July 2, 2014, "regular way" trading
under the symbol "VRTV" is expected to begin. The CUSIP number for the
Veritiv common stock will be 923454 102 when regular way trading begins.

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 2013
were $29 billion. For more information about International Paper, its
products and stewardship efforts, visit internationalpaper.com.

Certain statements in this press release regarding the spinoff transaction may
be considered "forward-looking statements," such as statements relating to
expectations for the new company and whether and when the spinoff transaction
will close. These statements may also be identified by words such as
"intend," "expect," "anticipate," "will," "implied," "designed," "assume" and
similar expressions. These statements reflect the current views of
International Paper's management 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 successful fulfillment or
waiver of all closing conditions without unexpected delays or conditions; (ii)
the successful closing of the spinoff transaction within the expected
timeframe; (iii) industry conditions, including but not limited to changes in
the cost or availability of raw materials, energy and transportation costs,
competition the companies face, cyclicality and changes in consumer
preferences, demand and pricing for the companies' products; (iv) global
economic conditions and political changes; and (v) other factors that can be
found in International Paper's press releases and filings with the Securities
and Exchange Commission and Veritiv's filing with the Securities and Exchange
Commission. International Paper undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new information, future
events or otherwise. A registration statement relating to these securities has
been filed with the Securities and Exchange Commission. This release does not
constitute an offer to sell or the solicitation of an offer to buy any
securities and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be unlawful. A
prospectus related to these securities can be obtained by contacting
International Paper at International Paper Company, Attn: Investor Relations,
6400 Poplar Ave., Memphis, TN 38197, Tel: (901) 419-4352, or by accessing the
Securities and Exchange Commission's website at www.sec.gov.

Logo- http://photos.prnewswire.com/prnh/20020701/IPLOGO

SOURCE International Paper

Website: http://www.internationalpaper.com
Contact: Media: Thomas J. Ryan, 901-419-4333; Investors: Jay Royalty,
901-419-1731; Michele Vargas, 901-419-7287. For Veritiv: Neil Russell, Senior
Vice President, Corporate Affairs, Veritiv Corporation, 513-965-2790
 
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