John Faraci Quotations

John brings experience and background in global capital markets that will add value to our board. His experience with many companies in a broad range of industries as an investment banking advisor over a 20-year career is a perspective we want serving on our board.

We intend to keep production in line with demand, and are taking aggressive steps to respond to weakened market conditions, ... We expected a seasonal slowdown in the quarter, but rising fuel costs and concerns about the economic outlook are impacting our business across the board.

We believe this is the right long-term decision for International Paper, and we also recognize we will lose some talented members of our organization. We are committed to supporting them through this transition,

We've owned the land for a long, long time -- in some cases for over 100 years -- and we think we've got a . . . very attractive value for a world-class-asset.

This is an important first step in International Paper's transformation plan to improve returns, strengthen the balance sheet and return cash to shareowners.

As we consider the sale of our U.S. land holding, we saw this as an important opportunity to protect in perpetuity many of our most ecologically significant lands.

It?s a great example of private, public and nonprofit cooperation.

It's an honor to be named the most admired company in the industry for the fourth straight year, and we're particularly proud to have ranked second overall in social responsibility. This is recognition of the talented employees of International Paper and their focus on serving our customers, strengthening our operations, and being responsible citizens in the communities where we live and work around the globe.

Expanding our coated board production in China through this powerful partnership with Sun Paper is core to our strategy for serving our global packaging customer base. As our key customers expand globally into China and other emerging markets, we will be there to help them grow.

In light of the company's plan to become more focused and streamline our operations, we believe the timing is right to relocate our global headquarters to Memphis, because of the improved efficiencies that will result from having all of the company's leadership in one place,

I am very positive about how I see 2006 unfolding.