Forward Looking Statements

10/26/2004


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Table of Contents

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Forward Looking Statements

Statements Relating to Non-GAAP Financial Measures

Agenda

Third Quarter 2004 Summary

IP Net Sales Revenue

EPS from Continuing Operations and Before Special Items*

3Q’04 vs. 2Q’04

9M’04 vs. 9M’03

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Cost Reduction Initiatives

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Printing Papers

Packaging

Forest Products

Reconciliation to Net Earnings

Special Items & Discontinued Operations – 3Q04

Outlook

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Average Sales Realizations

Hurricane Impact

2004 Earnings from Continuing Operations

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Author: International Paper