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International Paper Announces Retirement of Exec VP James P. Melican

Press release from the issuing company

STAMFORD, Conn., Oct. 28 -- International Paper Chairman and Chief Executive Officer John Dillon today announced that Executive Vice President James P. Melican will retire from the company on Dec. 31, 2003. "Jim has been with IP for nearly 20 years and has played a key role as part of our leadership team. We will miss his counsel," said Dillon. "His insight and leadership of the company's legal and external affairs were critical to our success during a period of significant company growth." Jim Melican, 63, joined International Paper in 1984 as vice president and general counsel and became executive vice president in 1991. Prior to joining International Paper, he was vice president and general counsel at Toyota Motor Sales, U.S.A., and served in a legal role at General Motors before joining Toyota. Melican resides in Greenwich, Conn. Dillon also announced the following related organizational changes: * The investor relations organization, led by Vice President Darial Sneed, will report to Executive Vice President Marianne Parrs, effective Nov. 1, 2003. * The corporate development organization, led by Senior Vice President Cato Ealy, will report to Rob Amen, effective when Amen becomes president on Nov. 1, 2003 as previously announced. * The legal department, led by Senior Vice President and General Counsel Maura Smith, will report to John Faraci, when Faraci becomes chairman and chief executive officer on Nov. 1, 2003 as previously announced. Business groups currently under Melican's leadership will change reporting relationships, effective Jan. 1, 2004 as follows: * John Faraci will assume responsibility for Carter Holt Harvey, IP's 50.5 percent owned subsidiary in New Zealand, which will continue to be led by its CEO and Managing Director Peter Springford. * George O'Brien, senior vice president - forest resources and wood products, will assume responsibility for Arizona Chemical, which will continue to be led by Vice President Gerry Marterer. * Marianne Parrs will assume responsibility for IP Realty, which will continue to be led by Len Ronnie, general manager - land utilization. In addition, the company announced that the packaging business and xpedx, IP's distribution company, will report under the leadership of John Faraci, effective Nov. 1, 2003; and the paper and forest products businesses will report under the leadership of Rob Amen, also effective Nov. 1.