MEMPHIS, Tenn., Aug. 3 /PRNewswire-FirstCall/ -- International Paper (NYSE: IP) has commenced cash tender offers to purchase a portion of its outstanding bonds as described below. The terms and conditions of the tender offers are described in International Paper's offer to purchase dated Aug. 3, 2009 (the "Offer to Purchase") and related Letter of Transmittal. International Paper expects to purchase the bonds utilizing the net cash proceeds from its previously announced offering of unsecured senior debt securities as well as other available cash resources.

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The Tender Offers

Upon the terms and subject to the conditions described in the Offer to Purchase, the Letter of Transmittal and any amendments or supplements to the foregoing, International Paper is offering to purchase for cash (1) any and all of its 7.40% Notes due 2014 (the "7.40% Notes") and (2) up to $1,000,000,000 in aggregate principal amount, less any principal amount of the 7.40% Notes accepted (the "Maximum Tender Amount"), of its 7.20% Notes Due 2026 (the "7.20% Notes") and its 5.50% Notes Due 2014 (the "5.50% Notes). International Paper refers to its offer to purchase the 7.40% Notes as the "Any and All Tender Offer" and to its offer to purchase the 7.20% Notes and 5.50% Notes as the "Maximum Tender Offer." International Paper refers to both offers, collectively, as the "Tender Offers."

The Any and All Tender Offer for the 7.40% Notes will expire at 5 p.m., ET, on Aug. 11, 2009 (the "Any and All Expiration Date"), and the Maximum Tender Offer for the 7.20% Notes and 5.50% Notes will expire at 5 p.m., ET, on Aug.