<B>IP Completes Sale of European Operation</B>

International Paper completed the sale of its 72 percent share in Zanders Feinpapiere AG to Metsa Serla.

The sale follows IP’s previously announced plan to sell $5 billion in assets by the end of this year.

Metsa Serla is an international forest products company based in Finland. The company has divisions in pulp, tissue, timber and packaging, among other sectors.

January 2001
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