IP Comments on Pensacola Mill Incident

On the evening of Jan. 22, International Paper Company (NYSE: IP) experienced significant structural damage to the largest pulp digester as well as the power house at its Pensacola pulp and paper mill in Cantonment, Fla.  No one at the mill was injured.

Response teams are working with local, state and federal agencies to provide information for those impacted.  The incident released a mixture of wood fiber, water and pulping liquor into the surrounding community.  We have engaged contractors to develop and implement plans to clean up and dispose of the discharged material as quickly as possible.  We are providing all necessary support and resources to our local community and residents as we work through the clean-up.

Our primary focus is on ensuring the health and safety of our employees, contractors and neighbors and on the clean-up of the affected areas and property.

Currently, the mill is not operating.  We are assessing the extent of the damage to the mill, evaluating supply options and will be working closely with our customers to meet their needs.

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) 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; (ii) 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; (iii) unanticipated expenditures related to the cost of compliance with existing and new environmental and other governmental regulations and to actual or potential litigation; and (iv) whether we experience a material disruption at one of our other manufacturing facilities.  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.

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