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IP Chairman, CEO Elected New Chairman of the Business Roundtable

Press release from the issuing company

WASHINGTON, May 10 The Business Roundtable (BRT) announced today that John T. Dillon, chairman and chief executive officer of International Paper, has been elected its new chairman. He will assume the post at the BRT's Annual Meeting on June 20. The BRT is America's leading business association, comprising the chief executive officers of leading U.S. corporations with a combined workforce of more than 10 million Americans. Through its member companies, the BRT advocates public policies that foster vigorous economic growth, a dynamic global economy, and a well-trained and productive workforce essential for future competitiveness. "John Dillon has been a leader both in industry and within the Roundtable," said Bob Burt, outgoing chairman of the BRT and chairman and chief executive officer of FMC Corporation. "John will provide a robust vision for the Roundtable as we grapple with a fluid economy and a changing workforce. We could not have chosen a better advocate for global leadership in today's world." "Only through sustainable, non-inflationary, long-term growth in the U.S. economy will American companies and American workers remain competitive around the world," said Dillon, in assuming his new role. "Today, we face significant challenges. It is the business community's responsibility to provide government with thoughtful public policy suggestions and alternatives to promote a vibrant economy. I look forward to my new role to ensure a strong dialogue between government and business." Dillon has been chairman and CEO of International Paper since l996. Since joining the company in 1965, Dillon has sought opportunities to impact and change conventional thinking in the industry. He has held key positions across a spectrum of operations, including forest resources, wood products, and packaging. Before he was appointed president and chief operating officer (1995-96), Dillon was executive vice president -- packaging (1987-95). In this position, he was responsible for the company's industrial and consumer packaging businesses, as well as its corporate engineering and technology staffs. Prior to that, he was in charge of International Paper's operations in Asia, and served on the board of directors of Carter Holt Harvey, a New Zealand paper and forest products company that is 51 percent-owned by International Paper. Dillon received his bachelor's degree from the University of Hartford in 1965 and a Master's Degree from Columbia University's Graduate School of Business in 1971. Dillon's professional affiliations include membership on the board of directors of Caterpillar, Inc. and Kellogg Company. He also serves as chairman of the board of governors of the National Council for Air and Stream Improvement, member of the President's Advisory Council on Trade Policy and Negotiations, and member of the Business Council. He has served as chairman of the AF&PA for the year 2000 and chairman of the board of directors of the National Council on Economic Education for the last four years. As he assumed his new post, Dillon praised Burt for his leadership. "I want to thank Bob for his diligence and hard work on many critical public policy issues. It was during his tenure that we passed the milestone trade legislation, Permanent Normal Trade Relations with China, and greatly expanded the grassroots program that has been so successful. He has provided a sturdy platform, and I look forward to building on that foundation." The BRT agenda for 2001 includes: * Promoting sound fiscal policy that emphasizes debt reduction, spending discipline, and reducing tax burdens on productive activities * Advocating education reform and workforce improvement * Promoting expanded global trade initiatives * Supporting affordable, quality health care * Supporting sound, sensible environmental policies

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