<PAGE>
FILE NO. 69-308
FORM U-3A-2
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
STATEMENT BY HOLDING COMPANY CLAIMING
EXEMPTION UNDER RULE 2 FROM THE
PROVISIONS OF THE PUBLIC UTILITY HOLDING
COMPANY ACT OF 1935
INTERNATIONAL PAPER COMPANY
<PAGE>
INTERNATIONAL PAPER COMPANY
International Paper Company ("International Paper") hereby files with
the Securities and Exchange Commission, pursuant to Rule 2, its statement
claiming exemption as a holding company from the provisions of the Public
Utility Holding Company Act of 1935 ("HCA"), and submits the following
information:
1. International Paper is a New York corporation whose principal
executive offices are located at Two Manhattanville Road, Purchase, New York
10577. International Paper's principal businesses include the production
worldwide of printing and writing papers, paperboard and packaging, wood
products and the distribution of paper and office supply products in both North
America and Europe. It also produces pulp, laminated products and specialty
products, chemicals and minerals. For more than half a century, International
Paper has been primarily engaged in businesses other than the business of an
"electric utility company" as defined in Section 2(a)(3) of the HCA. (See
International Paper Company, 9 SEC 938 (1941)). The names, addresses and places
of organization of International Paper's subsidiaries, other than any exempt
wholesale generator ("EWG") or foreign utility company in which International
Paper directly or indirectly holds an interest, are set forth on Attachment I.
Financial information by industry segment of International Paper and
subsidiaries for 1997-1999 is set forth in Exhibit A-1.
2. (a) The only subsidiary of International Paper which is an
"electric utility company" as defined in Section 2(a)(3) of the HCA is Saratoga
Development Corporation ("Saratoga"), which is a New York corporation having its
principal executive offices at Two Manhattanville
<PAGE>
Road, Purchase, New York 10577. Saratoga has as its principal business its
activities as a general partner (owning a 50% partnership interest) of
Curtis/Palmer Hydroelectric Company L.P. (Curtis/Palmer"), a New York limited
partnership. Curtis/Palmer owns and operates the existing Curtis/Palmer Falls
hydroelectric project in New York State under a license from the Federal Energy
Regulatory Commission ("FERC"). The Curtis/Palmer project has a capacity of
approximately 58.8 MW. Since it began operation in late 1985, all the output of
the Curtis/Palmer project has been sold at wholesale to Niagara Mohawk Power
Corporation, a nonaffiliated public utility providing electric service at
wholesale and retail in New York State.
2.(b) International Paper owns directly or indirectly interests in
four other FERC license hydroelectric power projects which sold electric
energy in 1999, as follows: (i) the Riley/Livermore/Jay project on the
Androscoggin River in Maine which is owned directly by International Paper
and has a capacity of approximately 17 MW; (ii) the Otis project on the
Androscoggin River, 50% of which is owned by a partnership in which Chisholm
Development Corporation (a wholly owned subsidiary of International Paper,
see Attachment I) is a general partner and which has a capacity of
approximately 10 MW; (iii) the Woronoco project on the Westfield River in
Massachusetts which is owned directly by International Paper and has a
capacity of approximately 3 MW; and (iv) the Turners Falls project on the
Connecticut River in Massachusetts which is owned directly by International
Paper and has a capacity of approximately .937 MW. Because these facilities
are "qualifying facilities" within the meaning of the Public Utility
Regulatory Policies Act ("PURPA"), their ownership and operations does not
cause International Paper to be a public utility company within the meaning
of the HCA.
<PAGE>
2. (c) International Paper also owns nine qualified cogeneration
facilities which sold electric energy in 1999: the Androscoggin Facility in
Jay, Maine which has a capacity of approximately 80.0 MW; the Camden Facility
in Camden, Arkansas, which has a capacity of approximately 32.5 MW; the
Eastover Facility in Eastover, South Carolina, which has a capacity of 109
MW; the Erie Facility in Erie, Pennsylvania, which has a capacity of
approximately 42 MW; the Lock Haven Facility in Lock Haven, Pennsylvania,
which has a capacity of approximately 22 MW; the Leola Facility in Leola,
Arkansas, which has a capacity of approximately 7.5 MW; the Natchez Facility
in Natchez, Mississippi, which has a capacity of approximately 23.4 MW; the
Riverdale Facility in Selma, Alabama, which has a capacity of approximately
104 MW; and the Savannah Facility in Savannah, Georgia, which has a capacity
of 160 MW. Because these facilities are "qualifying facilities" within the
meaning of PURPA, their ownership and operation does not cause International
Paper to be a public utility company within the meaning of the HCA.
3. (a) The only sales of electric energy by International Paper and
its subsidiaries during calendar year 1999 were at wholesale and were as
follows:
<TABLE>
<CAPTION>
HYDROPOWER MWH REVENUES
- ---------- --- --------
<S> <C> <C>
Curtis/Palmer Hydroelectric Company (1) 243,850 $29,333,988.33
Otis Hydroelectric Company (2) 58,601 $ 3,725,258.75
Riley/Livermore/Jay 21,575 $ 1,681,252.00
Woronoco 2,706 $ 73,562.74
Turners Falls 7,918 $ 216,707.00
</TABLE>
(1) International Paper controls 50% of Curtis/Palmer through its subsidiary
Saratoga Development Coproration.
(2) International Paper controls 50% of Otis through its subsidiary Chisholm
Development Corporation.
<PAGE>
<TABLE>
<CAPTION>
OTHER QUALIFYING FACILITIES MWH REVENUES
<S> <C> <C>
Androscoggin 265 $ 16,105.53
Camden 487 $ 10,069.51
Eastover 26,169 $ 645,438.00
Erie 1,345 $ 36,385.90
Leola 3,880 $ 88,287.16
Lockhaven 4,244 $ 118,528.00
Natchez 10 $ 215.01
Riverdale 25,987 $ 536,017.97
Savannah 13,504 $ 1,250,548.00
TOTAL (INCLUDING PREVIOUS PAGE) 410,451 $ 37,732,363.90
</TABLE>
3. (b) and (c) In 1999, International Paper and its subsidiaries did
not distribute or sell, at retail or wholesale, any electric energy or natural
or manufactured gas distributed outside the state in which each such company is
organized.
3. (d) In 1999, other than for its own consumption, International
Paper and its subsidiaries did not purchase any electric energy, natural gas or
manufactured gas purchased outside the state in which each such company is
organized or at the state line.
4. During 1999, International Paper had no interest, direct or
indirect, in an EWG or a foreign utility company. As a result, no Exhibit C is
included herewith.
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of claimant and its subsidiary companies as of the close of such
calendar year, as follows:
(1) The financial statements of the claimant for the year ended
December 31, 1999, have not been finalized, and when they are ready a copy of
claimant's Annual Report to its shareholders containing consolidated financial
statements will be filed with the Securities and Exchange Commission as an
amendment to this filing.
(2) The Income Statement and Balance Sheet as of December 31, 1999, of
Saratoga Development Corporation, a wholly owned subsidiary of claimant and a
general partner of Curtis/Palmer Hydroelectric Company L.P., a New York limited
partnership.
(3) The Statement of Income and Balance Sheet as of December 31, 1999,
of Curtis/Palmer Hydroelectric Company L.P. have not been finalized, and when
they are ready a copy will be filed with the Securities Exchange Commission as
an amendment to this filing.
<PAGE>
SIGNATURE
The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 25th day of February, 2000.
INTERNATIONAL PAPER COMPANY
(NAME OF CLAIMANT)
By: /s/ Andrew R. Lessin
-----------------------
Vice President & Controller
Attest:
/s/ James W. Guedry
- -------------------
Secretary
Name, title, and address of officer or officer's representative to whom
notices and correspondence concerning this statement should be addressed:
Michael K. Chapman, Esq.
Senior Counsel - Energy & Logistics
International Paper Company
6400 Poplar Avenue
Memphis, TN 39197
<PAGE>
ATTACHMENT I
INTERNATIONAL PAPER COMPANY
AND
SUBSIDIARIES
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------- -------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- -------------------------------------------------------------- -------------------------------------------------------------------
<S> <C>
ABC Container Corporation 1600 Valley Road, Wayne, NJ 07470
- -------------------------------------------------------------- -------------------------------------------------------------------
Alcor Envelope Company, Inc., The 160 Elm Avenue, Hamburg, NY 14075
- -------------------------------------------------------------- -------------------------------------------------------------------
Allegheny Railroad Company Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
American Central Corporation 3 Paragon Drive, Montvale, NJ 07645
American Central Company (a Massachusetts Trust) 3 Paragon drive, Montvale, NJ 07645
Grandland Corporation 3731 S. Braden Place, Tulsa, OK
- -------------------------------------------------------------- -------------------------------------------------------------------
Anitec Image International B.V. Nieuwenheizenweg 10, 2314 XR Leiden, Netherland
- -------------------------------------------------------------- -------------------------------------------------------------------
Arizona Chemical AS Greakerveien 127, N-1720, Greaker, Norway
- -------------------------------------------------------------- -------------------------------------------------------------------
Arizona Chemical Company 1001 E. Business, Highway 98, Panama City, FL
Arizona Chemical Service Corp. 1001 E. Business, Highway 98, Panama City, FL
Arizona Holdings Company 1001 E. Business, Highway 98, Panama City, FL
Sylvachem Corporation 1001 E. Business, Highway 98, Panama City, FL
- -------------------------------------------------------------- -------------------------------------------------------------------
Arizona Chemical Oy P.O. Box 165, Fin-90101 Oulo, FIN
Velarium Oy Ab
- -------------------------------------------------------------- -------------------------------------------------------------------
Bodcaw Company Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Camp Manufacturing Company Franklin, VA 23851
- -------------------------------------------------------------- -------------------------------------------------------------------
Cartonajes International, S.A. General Yague 20,2B, 28020 Madrid, Spain
- -------------------------------------------------------------- -------------------------------------------------------------------
Cartonejas Union S.A.
Inducar
- -------------------------------------------------------------- -------------------------------------------------------------------
Champlain Investments (Bermuda), Inc. Clarendon House, 2 Church St., P.O. Box HM 1022, Hamilton HM DX,
Bermuda
Trout Creek Equipment Leasing, L.P. c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 Zurich,
Switzerland
Ticonderoga Assets, Inc. c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 Zurich,
Switzerland
- -------------------------------------------------------------- -------------------------------------------------------------------
Chisholm Development Corporation1 Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Crystal Valley Corporation Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Emballages Laurent S.A. Ave. Louis Jacques Thenard, 71 100, Chalon-sur-Saone, France
- -------------------------------------------------------------- -------------------------------------------------------------------
Envases Internacional S.A.2 Edificio Seguros Sudamerica, Penthouse G, Avenida
Francisco de Miranda, Urb. El Rosal, Caracas, Venezuela
- -------------------------------------------------------------- -------------------------------------------------------------------
FPB Augusta, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
FPB Property Holdings Corporation Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Federal Forestlands, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Food Pak Argentina, S.A.
- -------------------------------------------------------------- -------------------------------------------------------------------
Forest Land Investments, Inc. 1600 Valley Road, Room 317, Wayne, NJ 07470
- -------------------------------------------------------------- -------------------------------------------------------------------
Fort Ticonderoga Investments, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
GCO Minerals Company 1600 Smith Street, Suite 3600, Houston, TX 77002
IP Farms, Inc. 1600 Smith Street, Suite 3600, Houston, TX 77002
Chocolate Bayou Water Company 1600 Smith Street, Suite 3600, Houston, TX 77002
IPF, Inc. 1600 Smith Street, Suite 3600, Houston, TX 77002
- -------------------------------------------------------------- -------------------------------------------------------------------
Georgetown Assets II, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Green Mountains Holdings A.G.3 Schlumpf & Partner, Treuhand AG, Lowenstrasse 1, 8001, Zurich
- -------------------------------------------------------------- -------------------------------------------------------------------
Hammermill Paper Company (inactive) Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
<CAPTION>
- ---------------------------------------------------------------- -----------
SUBSIDIARY NAME PLACE OF
INC.
- ---------------------------------------------------------------- -----------
<S> <C>
ABC Container Corporation DE
- ---------------------------------------------------------------- -----------
Alcor Envelope Company, Inc., The NY
- ---------------------------------------------------------------- -----------
Allegheny Railroad Company PA
- ---------------------------------------------------------------- -----------
American Central Corporation MI
American Central Company (a Massachusetts Trust) MA
Grandland Corporation OK
- ---------------------------------------------------------------- -----------
Anitec Image International B.V. NET
- ---------------------------------------------------------------- -----------
Arizona Chemical AS NOR
- ---------------------------------------------------------------- -----------
Arizona Chemical Company DE
Arizona Chemical Service Corp. FL
Arizona Holdings Company DE
Sylvachem Corporation DE
- ---------------------------------------------------------------- -----------
Arizona Chemical Oy FIN
Velarium Oy Ab FIN
- ---------------------------------------------------------------- -----------
Bodcaw Company DE
- ---------------------------------------------------------------- -----------
Camp Manufacturing Company VA
- ---------------------------------------------------------------- -----------
Cartonajes International, S.A. SPA
- ---------------------------------------------------------------- -----------
Cartonejas Union S.A. SPA
Inducar SPA
- ---------------------------------------------------------------- -----------
Champlain Investments (Bermuda), Inc. DE
Trout Creek Equipment Leasing, L.P. DE
Ticonderoga Assets, Inc. DE
- ---------------------------------------------------------------- -----------
Chisholm Development Corporation1 ME
- ---------------------------------------------------------------- -----------
Crystal Valley Corporation AK
- ---------------------------------------------------------------- -----------
Emballages Laurent S.A. FRA
- ---------------------------------------------------------------- -----------
Envases Internacional S.A.2 VEN
- ---------------------------------------------------------------- -----------
FPB Augusta, Inc. DE
- ---------------------------------------------------------------- -----------
FPB Property Holdings Corporation DE
- ---------------------------------------------------------------- -----------
Federal Forestlands, Inc. DE
- ---------------------------------------------------------------- -----------
Food Pak Argentina, S.A. ARG
- ---------------------------------------------------------------- -----------
Forest Land Investments, Inc. DE
- ---------------------------------------------------------------- -----------
Fort Ticonderoga Investments, Inc. DE
- ---------------------------------------------------------------- -----------
GCO Minerals Company TX
IP Farms, Inc. DE
Chocolate Bayou Water Company DE
IPF, Inc. DE
- ---------------------------------------------------------------- -----------
Georgetown Assets II, Inc. DE
- ---------------------------------------------------------------- -----------
Green Mountains Holdings A.G.3 SWIT
- ---------------------------------------------------------------- -----------
Hammermill Paper Company (inactive) DE
- ---------------------------------------------------------------- -----------
</TABLE>
- --------
1 Chisholm Deveopment Corporation - owns 50% of Otis Hydroelectric Company
Partnership
2 Envases - 51% owned by International Paper
3 Green Mountain - General Partner in Trout Creek Equipment Leasing L.P.
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------- -------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- -------------------------------------------------------------- -------------------------------------------------------------------
<S> <C>
Ilford Anitec (Canada) Limited 2751 John Street, Markham, Ontario L3R 2Y8, Canada
- -------------------------------------------------------------- -------------------------------------------------------------------
Ilford Anitec S.a.r.L. Thiebaud & von der Weid, Advocats, Rue de Romont 35, CH-1700
Fribourg, Switzerland
- -------------------------------------------------------------- -------------------------------------------------------------------
Imperial Bondware Corp. Two Manhattanville Road, Purchase, NY 10577
Federal Paper Board (India), Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
Impresora del Yague, C. por A.4 Autopista Santiago Navarrete, Kilometro 21/2, Santiago, Dominican
Republic
- -------------------------------------------------------------- -------------------------------------------------------------------
International Logging Corporation Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 3, Inc.5 Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 16, Inc. Two Manhattanville Road, Purchase, NY 10577
International Paper de Mexico, S.A. de C.V. Carr. 57 Queretaro-San Luis Potosi, Km. 60.2, 37980, San Jose
Iturbide, Guanajualo, Mexico
International Paper Envases de Mexico, S.A. de C.V. Montes Urales 723 P.B. Lomas de Chapultepec, Delegacion Miguel
Hidalgo, Mexico, DF 11000
International Paper Comercial de Mexico, S.A. de C.V. Mexico
Independencia 800 Altos, Col Centro, 31000 Chihuahua, Mexico
Oficina Central de Servicios, S.A. de C.V. Av. Herolco Colegio Militar 3705, Col. Mombre de Dios, C.P. 31110
Mexico
Papelera Kif de Mexico, S.A. de C.V. Av. Lopez Mateos No. 2050, Interior A42, Col. Jardines de San Jose,
32390 Cd. Juarez,
xpedx, S.A. de C.V. Chihuahua, Mexico
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 22, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 26, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 34, Inc. Two Manhattanville Road, Purchase, NY 10577
Bolsaflex, S.A.
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 35, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 34, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper - 35, Inc. Two Manhattanville Road, Purchase, NY 10577
Envases Puras de Columbia Columbia
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper (Asia) Limited 1401-1407 Shui On Centre, 6-8 Harbour Rd., Wanchai, Hong Kong
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper (Belgium) S.A. Blvd. de la Woluwe 100, 1200 Brussels, Belgium
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper (Bermuda), Inc.6 Clarendon House, 2 Church St., P.O. Box HM 1022, Hamilton HM DX,
Bermuda
Georgetown Equipment Leasing Associates, LP c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 Zurich,
Switzerland
Georgetown Assets Inc. c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 Zurich,
Switzerland
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Brasil Ltda. Rua Saloado Amarillo Goncalves Quieros, Sao Paulo Sp, Brazil
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Canada, Inc. c/o Borden & Elliot, 40 King St., Suite 4400 Toronto, Ontario,
Canada M5H 3Y4
Akrosil Canada, Inc. 7575 Kimbel St., Suite 14, Mississauga, Ontario, Canada L5S 1C8
- -------------------------------------------------------------- -------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------- ------------
PLACE OF
SUBSIDIARY NAME INC.
- -------------------------------------------------------------- ------------
<S> <C>
Ilford Anitec (Canada) Limited CANADA
- -------------------------------------------------------------- ------------
Ilford Anitec S.a.r.L. SWIT
- -------------------------------------------------------------- ------------
Imperial Bondware Corp. OH
Federal Paper Board (India), Inc. DE
- -------------------------------------------------------------- ------------
Impresora del Yague, C. por A.4 DOM
- -------------------------------------------------------------- ------------
International Logging Corporation NY
- -------------------------------------------------------------- ------------
International Paper - 3, Inc.5 DE
- -------------------------------------------------------------- ------------
International Paper - 16, Inc. DE
International Paper de Mexico, S.A. de C.V. ------------
ARG
International Paper Envases de Mexico, S.A. de C.V. MX
MX
International Paper Comercial de Mexico, S.A. de C.V.
DE
Oficina Central de Servicios, S.A. de C.V. MX
Papelera Kif de Mexico, S.A. de C.V. MX
MX
xpedx, S.A. de C.V. MX
- -------------------------------------------------------------- ------------
International Paper - 22, Inc. DE
- -------------------------------------------------------------- ------------
International Paper - 26, Inc. DE
- -------------------------------------------------------------- ------------
International Paper - 34, Inc. DE
Bolsaflex, S.A. ARG
- -------------------------------------------------------------- ------------
International Paper - 35, Inc. DE
- -------------------------------------------------------------- ------------
International Paper - 34, Inc. DE
- -------------------------------------------------------------- ------------
International Paper - 35, Inc.
Envases Puras de Columbia DE
- -------------------------------------------------------------- ------------
International Paper (Asia) Limited HK
- -------------------------------------------------------------- ------------
International Paper (Belgium) S.A. BEL
- -------------------------------------------------------------- ------------
International Paper (Bermuda), Inc.6 DE
Georgetown Equipment Leasing Associates, LP DE
Georgetown Assets Inc. DE
- -------------------------------------------------------------- ------------
International Paper Brasil Ltda. BRA
- -------------------------------------------------------------- ------------
International Paper Canada, Inc. CAN
- -------------------------------------------------------------- ------------
Akrosil Canada, Inc. CAN
- -------------------------------------------------------------- ------------
</TABLE>
- --------
4 Impresora - 51% owned by International Paper
5 International Paper - 3, Inc. - 12% owner of International Paper Deutschland,
Inc. & Co. Holdings KG
6 International Paper (Bermuda), Inc. - Owns 80% of ltd. partnership; 20% owned
by 3rd party investors
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------- -------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- -------------------------------------------------------------- -------------------------------------------------------------------
<S> <C>
International Paper Capital Formation, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper (Belgium) Blvd. de la Woluwe 100, 1200 Brussels, Belgium
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Cogeneration of Maine, Inc. Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Company (Delaware) (inactive) Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Company de Venezuela, C.A. Edificio Seguros Sudamedca, Penthouse G. Avenue Tamanaco Cruce con
Avenida, Francisco de
Miranda, Urb. El Rosal - Chacao Miranda, Caracas, Venezuela
Jet Cargo International P.O. Box 02001, Miami, FL 3102
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Company (Europe) Limited Talacker 41, 8001, Zurich, Switzerland
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Company Foundation (Non-profit) Two Manhattanville Road, Purchase, NY 10577
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Company (Japan) Limited The Imperial Tower, 1-1, 10th Floor, 1-1Uchisaiwaicho 1-chome,
Chiyoda-ku, Tokyo 100-0011,
Japan
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Company Pty. Limited Levels 27-35, No. 1 O'Connell St., Sydney N.S.W. 2000 Australia
Continental Cut (joint venture/partnership) Need address
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper de Argentina S.A. Avda. Federcio Lacroze 2252, 7th Floor, "B," Federal District,
Buenos Aires, Argentina
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper de El Salvador, S.A. de C.V. FN7 Km. 71/2Boulevard, Del Ejercifo Nacional, Soyapango, El Salvador,
Central America
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Deutschland, Inc.8 Two Manhattanville Road, Purchase, NY 10577
International Paper Deutschland, Inc. & Co. Holdings KG An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany
Gartensiedlungsgesellschaft Gronauer Wald mbH An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany
An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany
Gartensiedlungs-Gesellschaft Gronauer
Wald mbH & Co. Immobilien oHG Senefelderstrasse 15, 51469 Bergisch Gladbach, Germany
Strunder Spedition GmbH
- -------------------------------------------------------------- -------------------------------------------------------------------
Zanders Feinpapiere AG An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany
Zanders France, S.A. Zone Indusidelle, Route de Piscop - 95530, Saint-Brice-sous-Foret,
France
International Paper Premium Papers EEIG need address
Zanders Benelux S.P.R.L. Ave, des Pagodes 1, 1020 Brussels, Belgium
Zanders FinePapers Ltd. Chronicle House, Larkfield, Aylesford, Kent, ME20 6SE England
Zanders Iberia S.L. Carrer Joan Guell 149 Etio. C., 08028 Barcelona, Spain
Zanders International Finance B.V. c/o Deutsche de Bary Trust N.V. Herengracht 450-454, 1017CA
Amsterdam, Netherland
Zanders Italia s.r.l. Via Ca Dell'Orbo n. 13-14, Villanova di Castenaso (Bo) Italy
Zanders U.S.A., Inc. 100 Demarest Drive, Wayne, NJ 07470
- -------------------------------------------------------------- -------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------- ------------
SUBSIDIARY NAME PLACE OF
INC.
- ------------------------------------------------------------- ------------
<S> <C>
International Paper Capital Formation, Inc. DE
- ------------------------------------------------------------- ------------
International Paper (Belgium) BEL
- ------------------------------------------------------------- ------------
International Paper Cogeneration of Maine, Inc. DE
- ------------------------------------------------------------- ------------
International Paper Company (Delaware) (inactive) DE
- ------------------------------------------------------------- ------------
International Paper Company de Venezuela, C.A. VEN
- ------------------------------------------------------------- ------------
International Paper Company (Europe) Limited SWIT
- ------------------------------------------------------------- ------------
International Paper Company Foundation (Non-profit) NY
- ------------------------------------------------------------- ------------
International Paper Company (Japan) Limited DE
- ------------------------------------------------------------- ------------
International Paper Company Pty. Limited AUS
Continental Cut (joint venture/partnership) AUS
- ------------------------------------------------------------- ------------
International Paper de Argentina S.A. ARG
- ------------------------------------------------------------- ------------
International Paper de El Salvador, S.A. de C.V. FN7 ELSA
- ------------------------------------------------------------- ------------
International Paper Deutschland, Inc.8 DE
International Paper Deutschland, Inc. & Co. Holdings KG GE
Gartensiedlungsgesellschaft Gronauer Wald mbH GE
GE
Gartensiedlungs-Gesellschaft Gronauer
Wald mbH & Co. Immobilien oHG GE
Wald mbH & Co. Immobilien oHG
Strunder Spedition GmbH
- ------------------------------------------------------------- ------------
Zanders Feinpapiere AG GER
Zanders France, S.A. FRA
International Paper Premium Papers EEIG GER
Zanders Benelux S.P.R.L. BEL
Zanders FinePapers Ltd. ENG
Zanders Iberia S.L. SPA
Zanders International Finance B.V. NET
Zanders Italia s.r.l. ITA
Zanders U.S.A., Inc. NJ
- ------------------------------------------------------------- ------------
</TABLE>
- --------
7 80% owned by International Paper
8 International Paper Deutschland, Inc. 99% owner of International paper
Deutschland, Inc. Co. Holdings KG
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------- -------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- -------------------------------------------------------------- -------------------------------------------------------------------
<S> <C>
International Paper Financial Services, Inc. 6400 Poplar Avenue, Memphis, TN 38197
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Finance Company (I)
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Finance Co. (II) Ltd.
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper Foreign Sales Corporation Trident Trust Company (V.I.), Suite 208
Citibank Building, Veterans Drive, Charlotte Amalle
St. Thomas, U.S. V.I. 00801
- -------------------------------------------------------------- -------------------------------------------------------------------
International Paper France Inc.9 Two Manhattanville Road, Purchase, NY 10577
International Paper Packaging SA B.P. 312, 25 Chemin des Freres Lumiere, 69802, St. Priest France
Arizona Chemical S.A. 262 Avenue Jean Jaures, 79000 Niort, France
International Paper Emballages Liquidas S.A. B.P. 312, 25 Chemin des Freres Lumiere, 69802, St. Priest France
Societe Normande de Carton Ondule 25, rue Michel Salles, 92210 Saint-Cloud, France
Societe Mediterrraneanne D'Emballages S.A.10 25, rue Michel Salles, 92210 Saint-Cloud, France
Societe Moderne D'Emballages S.a.r.L. 25, rue Michel Salles, 92210 Saint-Cloud, France
International Paper Investments (France) S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
International Paper S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
Papeteries de France 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
Aussedat Rey Nederland B.V. DeBoelelaan 575A, 1082 RM Amsterdam, The Netherland
- -------------------------------------------------------------- -------------------------------------------------------------------
Aussedat Rey (UK) Limited Hill House, McDonald Road, Highgate Hill, LONDON N19 5NA UK
Celimo Cellulose du Limousin S.N.C. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
Comptoir des Bois de Brive S.N.C. 17, avenue Maillard, 19104 Brive Cedex, France
Corimex S.N.C. Zone Industrielle de Ladoux Cebazal, 63118 Clermont-Ferrand,
France
International Paper (Deutschland) GmbH Volmerswerther Strasse 20, 40221, Dusseldorf, Germany
International Paper (Espana), S.L. Munlaner 200, Atico 7 E-08036, Barcelona, Spain
Polyrey S.N.C. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
Polyrey Iberica S.A. Calle Ronda 38, 08100 San Fost de Campsentelles, Barcelona, Spain
International Paper Benelux S.A. Haachtsesteenweg 162, 1830 Melsbroek, Belgium
Polyrey (U.K.) Limited Mattey House, 128-136 High Street, Edgware, Middlesex, HA8 7EL, UK
S.D.P. S.A.R.L. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
Societe de Reboisement Societe Civile 17, avenue Maillard, 19104 Brive Cedex, France
Societe Immobiliere des Papeteries de France S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
S.P.S.V.S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
Arizona Chemical S.A.R.L. 11 Bis Avenue Auber, 06000 Nice, France
Cellulose et Papiers de Pologne S.A.11 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France
International Paper - Kwidzyn S.A. ul. Lotnicza 1, 82500 Kwidzyn, Poland
Bartorex SP.ZO.O. Krobia K. Torunla, 87-162 Lubicz, Poland
Impap - SP.ZO.O. ul. 30 Stycznia 35, 83-100 Tczew, Poland
Tor-Pal SP.ZO.O. ul. Lotnicza 1, 82500 Kwidzyn, Poland
International Paper Industrie France S.A. 25 Chemin des Freres Lumiere, Saint-Priest, Cedex, France
- -------------------------------------------------------------- -------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------- ----------
SUBSIDIARY NAME PLACE OF
INC.
- ------------------------------------------------------------- ----------
<S> <C>
International Paper Financial Services, Inc. DE
- ------------------------------------------------------------- ----------
International Paper Finance Company (I) UK
- ------------------------------------------------------------- ----------
International Paper Finance Co. (II) Ltd. FIN
- ------------------------------------------------------------- ----------
International Paper Foreign Sales Corporation
USSVI
- ------------------------------------------------------------- ----------
International Paper France Inc.9 DE
International Paper Packaging SA FRA
Arizona Chemical S.A. FRA
International Paper Emballages Liquidas S.A. FRA
Societe Normande de Carton Ondule FRA
Societe Mediterrraneanne D'Emballages S.A.10 FRA
Societe Moderne D'Emballages S.a.r.L. FRA
International Paper Investments (France) S.A. FRA
International Paper S.A. FRA
Papeteries de France FRA
Aussedat Rey Nederland B.V. NET
- ------------------------------------------------------------- ----------
Aussedat Rey (UK) Limited ENG
Celimo Cellulose du Limousin S.N.C. FRA
Comptoir des Bois de Brive S.N.C. FRA
Corimex S.N.C. FRA
International Paper (Deutschland) GmbH GER
International Paper (Espana), S.L. SPA
Polyrey S.N.C. FRA
Polyrey Iberica S.A. SPA
International Paper Benelux S.A. BEL
Polyrey (U.K.) Limited ENG
S.D.P. S.A.R.L. FRA
Societe de Reboisement Societe Civile FRA
Societe Immobiliere des Papeteries de France S.A. FRA
S.P.S.V.S.A. FRA
Arizona Chemical S.A.R.L. FRA
Cellulose et Papiers de Pologne S.A.11 FRA
International Paper - Kwidzyn S.A. POL
Bartorex SP.ZO.O. POL
Impap - SP.ZO.O. POL
Tor-Pal SP.ZO.O. POL
International Paper Industrie France S.A. FRA
- ------------------------------------------------------------- ----------
</TABLE>
- --------
9 International Paper France - 76.98% owned by International Paper Company,
10.7% owned by International Paper Investments (Poland), Inc. and 8.8% owned by
Myrtle Investments, Inc., and .7% owned by International Paper (Papeteries
Etienne) Holdings, Inc.
10 Societe Mediterraneanne d'Emballages - 84.62% owned by International Paper
France Inc. and 15.38% by Soc. Normande de Carton Ondule
11 Cellulose et Papiers de Pologne - holds 98.98% of International Paper -
Kwidzyn S.A.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- -----------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- ----------------------------------------------------------- -----------------------------------------------------------------------
<S> <C>
International Paper Liquid Packaging Spolke ZO.O
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Holding AG12 Schlumpf & Partner Treuhand AG, Alpenstrasse 12, Zug, Switzerland
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Holdings Company13 Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Investment Corporation Wilmington Trust Center, 1105 N. Market Street, Suite 1300,
Wilmington, DE
International Paper Czech Republic, s.r.o. Vrsni 54, 182 00 Prada 8, Czech Republic
International Paper (Europe) S.A. Boulevard de la Woluwe, 100, 1200 Brussels, Belgium
International Paper Finance (Barbados) Limited Ernest & Young Bldg., Bush Hill, Bay St., Bridgetown, Barbados
International Paper Hungary Kereskedelmi Kft. Rumbach Center, Rumbach S.u. 21.H-1075, Budapest, Hungary
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Investments (CIS) Inc. (US) Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Investments (Poland), Inc.14 Two Manhattanville Road, Purchase, NY 10577
International Paper - Klucze S.A. ul. Zawlercianska 1, 32-310 Klucze, Poland
International Paper Liquid Packaging (Poland) Sp.zo.o. Sp.zo.o
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Ireland Ashbourne, County of Meath, Ireland
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Italia S.p.A. Via Ornago, 55, 20040 Bellusco, (Milan) Italy
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Jamaica, Ltd. Lot 5, Henderson Avenue, Naggo Head Industrial Estate
Naggo Head, Saint Catherine, Jamaica, West Indies
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Korea Ltd.15 IP House, 552-1 Shinsa-dong, Kangnam-ku, Seoul, Korea
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper - Masonite Holding Company Ltd. Two Manhattanville Road, Purchase, NY 10577
International Paper Group (UK) Limited Howley Park Estate, Morley, Leeds LS27 OQT, England
Horsell, Limited Howley Park Estate, Morley, Leeds LS27 OQT, England
International Paper (UK) Limited Inverurie Mills, Aberdeenshire, Scotland, AB51 5NR, UK
Federal Tait Paper France S.A.R.L. 36, boulevard Emile Augler, 75116 Paris, France
International Paper (Leeds) Limited Aberdeenshire, Scotland, A851 5NR, UK (registered office)
Yeadon Industrial Estate, Yeadon, E. Yorkshire, LS19 7WP, IK (mail)
IP Information Services Limited
IP UK Operations Holding Limited Inverurie Mills, Aberdeenshire, Scotland, AB51 5NR, UK
Forest Lines Agencies (UK) Limited Howley Park Estate, Morley, Leeds LS27 OQT, England
International Paper Company Limited Cerdic House, The Dock, Felixtowe, Suffolk, IP11 8TX, England
International Paper Containers (UK) Limited Manor House, 1 The Leatherhead, Surrey KT22 8DH England
Veratec Road 3, Industrial Estate, Winsford, Cheshire, ENG W7 3RJ
First Field Lane, Braunlon, North Devon, EX33 1 ER, England
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper - Masonite (Bermuda) UnLimited c/o Codan Services Limited, Clarendon House, Church Street, P.O. Box
HM 1022, Hamilton HM DX, Bermuda
- ----------------------------------------------------------- -----------------------------------------------------------------------
International Paper Holdings Ireland Carrick-on-Shannon, County Leitrim, Ireland
- ----------------------------------------------------------- -----------------------------------------------------------------------
Masonite Ireland Carrick-on-Shannon, County Leitrim, Ireland
- ----------------------------------------------------------- -----------------------------------------------------------------------
Masonite Europe Segrave House, 19/20 Earlsdorf Terrace, Dublin 2, Ireland
- ----------------------------------------------------------- -----------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------- -----------
PLACE
SUBSIDIARY NAME OF INC.
- ----------------------------------------------------------- -----------
<S> <C>
International Paper Liquid Packaging Spolke ZO.O POL
- ----------------------------------------------------------- -----------
International Paper Holding AG12 SWIT
- ----------------------------------------------------------- -----------
International Paper Holdings Company13 DE
- ----------------------------------------------------------- -----------
International Paper Investment Corporation DE
International Paper Czech Republic, s.r.o. CZE
International Paper (Europe) S.A. BEL
International Paper Finance (Barbados) Limited BAR
International Paper Hungary Kereskedelmi Kft. HUN
- ----------------------------------------------------------- -----------
International Paper Investments (CIS) Inc. (US) DE
- ----------------------------------------------------------- -----------
International Paper Investments (Poland), Inc.14 DE
International Paper - Klucze S.A. POL
International Paper Liquid Packaging (Poland) Sp.zo.o. POL
- ----------------------------------------------------------- ------------
International Paper Ireland IRE
- ----------------------------------------------------------- -----------
International Paper Italia S.p.A. ITA
- ----------------------------------------------------------- -----------
International Paper Jamaica, Ltd. JAM
- ----------------------------------------------------------- -----------
International Paper Korea Ltd.15 KOR
- ----------------------------------------------------------- -----------
International Paper - Masonite Holding Company Ltd. DE
International Paper Group (UK) Limited ENG
Horsell, Limited ENG
International Paper (UK) Limited SCOT
Federal Tait Paper France S.A.R.L. FRA
International Paper (Leeds) Limited SCOT
IP Information Services Limited SCOT
IP UK Operations Holding Limited ENG
Forest Lines Agencies (UK) Limited ENG
International Paper Company Limited ENG
International Paper Containers (UK) Limited ENG
Veratec ENG
- ----------------------------------------------------------- ------------
International Paper - Masonite (Bermuda) UnLimited BER
- ----------------------------------------------------------- -----------
International Paper Holdings Ireland IRE
- ----------------------------------------------------------- -----------
Masonite Ireland IRE
- ----------------------------------------------------------- -----------
Masonite Europe IRE
- ----------------------------------------------------------- -----------
</TABLE>
12 International Paper Holding AG - General Partner in Georgetown Equipment
Leasing Associates, L.P.
13 International Paper Holdings Company - owns 153,000 shares (.99%) of
International Paper Italia, S.p.A.
14 International Paper Investments (Poland) Inc. - Holds 1.001% of
International Paper - Kwidzyn S.A.
15 International Paper Korea - 80% owned by International Paper
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- -----------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- ----------------------------------------------------------- -----------------------------------------------------------------------
<S> <C>
Masonite Ireland Research Carrick-on-Shannon, County Leitrim, Ireland
- ----------------------------------------------------------- ------------------------------------------------------------------------
KAV Ambalaj Sanayi ve Ticoret, A.S.
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper (Papeteries Etienne) Holdings, Inc. Two Manhattanville Road, Purchase, NY 10577
Papeteries Etienne S.A. 29 Avenue de Camargue, 13632 Arles, France
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Portfolio Investments, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Professional Services Corporation Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Realty Corporation 3 Paragon Drive, Montvale, NJ 07645
Bear Mountain Development Corporation 3 Paragon Drive, Montvale, NJ 07645
Haig Point, Inc. 3 Paragon Drive, Montvale, NJ 07645
Haig Point Club, Inc. P.O. Box 7319, Hilton Head Island, SC 29938
Haig Point Community Association, inc. P.O. Box 7319, Hilton Head Island, SC 29938
Haig Point Ferry Company, Inc. P.O. Box 7319, Hilton Head Island, SC 29938
Haig Point/Melrose Wastewater Treatment P.O. Box 7319, Hilton Head Island, SC 29938
Company, Inc.
Haig Point Utility Company, Inc. P.O. Box 7319, Hilton Head Island, SC 29938
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper (Russia) Holding Company Two Manhattanville Road, Purchase, NY 10577
OAO Svetogorsk Need address
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Sverige A.B. Box 55066 Odegardelet 48, S-40053 Goteborg, Sweden
- ----------------------------------------------------------- ------------------------------------------------------------------------
Arizona Chemical A.B. Box 66, S-820 22, Sandarne, Sweden
- ----------------------------------------------------------- ------------------------------------------------------------------------
Arizona Chemical B.V. "De Molenberg", Hellingstraat 22H, N-1271, Va Huizen, Netherland
- ----------------------------------------------------------- ------------------------------------------------------------------------
Arizona Chemical GmbH Bahrenfelder Strasse 244, D-22765 Hamburg, Germnay
- ----------------------------------------------------------- ------------------------------------------------------------------------
Arizona Chemical Limited Manor House, 1 The Crescent, Leatherhead, Surrey, KT 22 8DH England
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Taiwan Ltd. 7th Floor, Walsin Financial Bldg., 117, Sect. 3, Min Sheng East Road,
Taipei 10446 Taiwan, Republic of China
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper Trademark Company 919 Market Street, (Suite 610), Wilmington, DE
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Paper (Turkey) Holding Company Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
International Pulp Sales Company Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
IPI Corporation16 Juzen Bldg., 9-6 Nagata-cho 2-chome, Chlyoda-ku, Tokyo 100 Japan
- ----------------------------------------------------------- ------------------------------------------------------------------------
IPI s.R.l. Vla Piermarini 19, 06132, San Sisto (Perguia) Italy
- ----------------------------------------------------------- ------------------------------------------------------------------------
IP Investment Holdings (inactive) Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
IP Online, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
IP Pacific Forest Corporation Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
IP Petroleum Company, Inc. 1600 Smith Street, Suite 3600, Houston, TX 77002
- ----------------------------------------------------------- ------------------------------------------------------------------------
IP Southern Timberlands, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------- -----------
PLACE
SUBSIDIARY NAME OF INC.
- ----------------------------------------------------------- -----------
<S> <C>
Masonite Ireland Research IRE
- ----------------------------------------------------------- -----------
KAV Ambalaj Sanayi ve Ticoret, A.S. Turkey
- ----------------------------------------------------------- -----------
International Paper (Papeteries Etienne) Holdings, Inc. FRA
Papeteries Etienne S.A.
- ----------------------------------------------------------- -----------
International Paper Portfolio Investments, Inc. DE
- ----------------------------------------------------------- -----------
International Paper Professional Services Corporation DE
- ----------------------------------------------------------- -----------
International Paper Realty Corporation DE
Bear Mountain Development Corporation DE
Haig Point, Inc. DE
Haig Point Club, Inc. SC
Haig Point Community Association, inc. SC
Haig Point Ferry Company, Inc. SC
Haig Point/Melrose Wastewater Treatment SC
Company, Inc.
Haig Point Utility Company, Inc. SC
- ----------------------------------------------------------- -----------
International Paper (Russia) Holding Company DE
OAO Svetogorsk RUS
- ----------------------------------------------------------- -----------
International Paper Sverige A.B. SWE
- ----------------------------------------------------------- -----------
Arizona Chemical A.B. SWE
- ----------------------------------------------------------- -----------
Arizona Chemical B.V. NETH
- ----------------------------------------------------------- -----------
Arizona Chemical GmbH GER
- ----------------------------------------------------------- -----------
Arizona Chemical Limited ENG
- ----------------------------------------------------------- -----------
International Paper Taiwan Ltd. TAI
- ----------------------------------------------------------- -----------
International Paper Trademark Company DE
- ----------------------------------------------------------- -----------
International Paper (Turkey) Holding Company DE
- ----------------------------------------------------------- -----------
International Pulp Sales Company DE
- ----------------------------------------------------------- -----------
IPI Corporation16 JAP
- ----------------------------------------------------------- -----------
IPI s.R.l. ITA
- ----------------------------------------------------------- -----------
IP Investment Holdings (inactive) DE
- ----------------------------------------------------------- -----------
IP Online, Inc. DE
- ----------------------------------------------------------- -----------
IP Pacific Forest Corporation DE
- ----------------------------------------------------------- -----------
IP Petroleum Company, Inc. DE
- ----------------------------------------------------------- -----------
IP Southern Timberlands, Inc. DE
- ----------------------------------------------------------- -----------
16 I.P.I. Corp. - 51% owned by International Paper
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- -----------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- ----------------------------------------------------------- -----------------------------------------------------------------------
<S> <C>
Longview, Portland & Northern Railway Company 7762 U.S. Hwy. 101, Box 22, Gardiner, OR 97441
- ----------------------------------------------------------- ------------------------------------------------------------------------
Masonite Corporation One South Wacker Dirve, Chicago, IL 60606
Masonite (Africa) Limited17 14th Floor Nedbank Centre, Durban Club Place, Durban 4001, Republic of
So. Africa
Ezebilt Products (PTY) Ltd. 322 Mark Street, Waltoo, Silverton, Pretoria 0127, Republic of So.
Africa
Masonite CP Ltd. Jason House, Kerry Hill, Horsforth, Leeds, LS 18 4JR, England
Masonite CP Ltd. One South Wacker Drive, Chicago, IL 60606
Masonite Corporation Foreign Holdings Ltd. P.O. Box 54128, 3008 JC Rotterdam, The Netherland
International Paper (Netherlands) B.V. Imstenraderweg 15, 6422 PM Heerlen, The Netherland
Akrosil Europe B.V. Kantoorschip "Hendrick", P.O. Box 54128, 3008, JC Rotterdam, The
Netherland
Forest Lines Agencies B.V. Patimoniumlaan 46-48, 3904 AE Veenendael, The Netherland
Kleefsman B.V. Nieuweweg 283A, 6603 BN Wijchen, The Netherland
Recom B.V. Fabrieksweg 23-27, 6541 BP Nijmegen, The Netherland
Scaldia Papier B.V.
- ----------------------------------------------------------- ------------------------------------------------------------------------
Masonite (Hangzhou) Fiberboard Corporation Limited Hangzhou Economic and Technological Development Zone, Hangzhou,
Zhejiang Province, PRC
- ----------------------------------------------------------- ------------------------------------------------------------------------
Masonite Korea Yuhan Hoesa 1240 Chungwang-Dong, Korea
- ----------------------------------------------------------- ------------------------------------------------------------------------
Myrtle Investments, Inc.18 Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Ngahere Aotearoa, Inc. Two Manhattanville Road, Purchase, NY 10577
Carter Holt Harvey19 640 Great South Road, Manakau City, Auckland, New Zealand
- ----------------------------------------------------------- ------------------------------------------------------------------------
NSC Timberlands, Incorporated Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
PAPCO INC. 3101 International Drive East, Mobile, Al
- ----------------------------------------------------------- ------------------------------------------------------------------------
Papeteries d'Espaly S.A. Esplay, 43000 le Puy-en-Velay, France
- ----------------------------------------------------------- ------------------------------------------------------------------------
Pintu Acquisition Company, Inc. One South Wacker Drive, Chicago, IL 60606
Merbok Form Tec SDN BHD
- ----------------------------------------------------------- ------------------------------------------------------------------------
Puerto Rico Container Company Carretera Num. 2, KM 15.2, Bayamon, Puerto Rico 00619
- ----------------------------------------------------------- ------------------------------------------------------------------------
Saratoga Development Corporation 20 Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Shanghai International Paper CNPC Ltd.21 Jinqiao Export Processing Zone, Pudong
New Area, Shanghai, People's Republic of China
- ----------------------------------------------------------- ------------------------------------------------------------------------
Shanghai International Paper Trading Company Limited Need address
- ----------------------------------------------------------- ------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------- -----------
PLACE
SUBSIDIARY NAME OF INC.
- ----------------------------------------------------------- -----------
<S> <C>
Longview, Portland & Northern Railway Company WA
- ----------------------------------------------------------- -----------
Masonite Corporation DE
Masonite (Africa) Limited17 SOAF
Ezebilt Products (PTY) Ltd. SOAF
Masonite CP Ltd. ENG
Masonite CP Ltd. ENG
Masonite Corporation Foreign Holdings Ltd. NET
International Paper (Netherlands) B.V. NET
Akrosil Europe B.V. NET
Forest Lines Agencies B.V. NET
Kleefsman B.V. NET
Recom B.V. NET
Scaldia Papier B.V.
- ----------------------------------------------------------- -----------
Masonite (Hangzhou) Fiberboard Corporation Limited PRC
- ----------------------------------------------------------- -----------
Masonite Korea Yuhan Hoesa KOR
- ----------------------------------------------------------- -----------
Myrtle Investments, Inc.18 DE
- ----------------------------------------------------------- -----------
Ngahere Aotearoa, Inc. DE
Carter Holt Harvey19 NZ
- ----------------------------------------------------------- -----------
NSC Timberlands, Incorporated SC
- ----------------------------------------------------------- -----------
PAPCO INC. DE
- ----------------------------------------------------------- -----------
Papeteries d'Espaly S.A. FRA
- ----------------------------------------------------------- -----------
Pintu Acquisition Company, Inc. DE
Merbok Form Tec SDN BHD Malaysa
- ----------------------------------------------------------- -----------
Puerto Rico Container Company DE
- ----------------------------------------------------------- -----------
Saratoga Development Corporation 20 DE
- ----------------------------------------------------------- -----------
Shanghai International Paper CNPC Ltd.21 PRC
- ----------------------------------------------------------- -----------
Shanghai International Paper Trading Company Limited PRC
- ----------------------------------------------------------- -----------
</TABLE>
17 Masonite (Africa) Limited - 66.73% owned by Masonite Corporation
18 Myrtle Investments, Inc. - holds 14.3% of International Paper France Inc.
19 Carter Holt Harvey - 50.31% held by Ngahere Aotearoa
20 Saratoga Development Corporation - holds 50% of Curtis/Palmer Hydroelectric
Company, L.P.
21 Shanghai Int'l. Paper CNPC - 45% owned by China Nat'l Pkg. Corp.
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- -----------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- ----------------------------------------------------------- -----------------------------------------------------------------------
<S> <C>
Siding Administration and Recovery Maximization Company Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Societe Guadaloupeenne de Carton Ondule Boite Postale No. 2, 97101 Besse Terre, Guadeloupe, FWI
- ----------------------------------------------------------- ------------------------------------------------------------------------
SP Forests L.L.C. Two Manhattanville Road, Purchase, NY 10577
Transtates Properties, Inc. 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411
The Branigar Organization 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411
Branigar Credit Corporation 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411
Branigar Properties, Inc. 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411
Sherwood & James Advertising, Inc. 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411
- ----------------------------------------------------------- ------------------------------------------------------------------------
Spectra Serve, Inc.
- ----------------------------------------------------------- ------------------------------------------------------------------------
Sustainable Forest L.L.C. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Sustainable Forest Technologies, Inc. 6600 LBJ Freeway, 2nd Floor, Dallas, TX 75240
- ----------------------------------------------------------- ------------------------------------------------------------------------
Taussig's Graphic Supply Inc. 1600 Smith Street, Suite 3600, Houston, TX 77002
- ----------------------------------------------------------- ------------------------------------------------------------------------
The Long-Bell Petroleum Company, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Ticonderoga Assets II, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Timberlands Capital Corp. III, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Timberlands #2 L.L.C. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Timberland Capital Corp., Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Timberland Capital Corp. II, Inc. Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
U.C. Realty Corp. 1600 Valley Road, Room 317, Wayne, NJ 07470
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Argentina, S.A.
Puntapel, S.A. Av. Libertador 1258, 1638 Vicente Lopez, Prov. Buenos Aires, Argentina
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Business Development Corp. 1600 Valley Road, Room 317, Wayne, NJ 07470
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Chile, S.A. Evaristo Lillo, 1126 Piso, Las Condes, Santiago, Chile
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Foreign Sales Corp.
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Holding B.V.
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Holdings Chile, S.A. Evaristo Lillo, 1126 Piso, Las Condes, Santiago, Chile
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Holdings Limited Ashbourne, County of Meath, Ireland
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Hong Kong Ltd.
Eastgate Packaging Ltd.
92 XIN LI Paper Packaging Co., Ltd.
Eastgate Packaging (Chergdu) Ltd.
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Patent Holding, Inc. 1600 Valley Road, Room 317, Wayne, NJ 07470
- ----------------------------------------------------------- ------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------- -----------
PLACE
SUBSIDIARY NAME OF INC.
- ----------------------------------------------------------- -----------
<S> <C>
Siding Administration and Recovery Maximization Company AR
- ----------------------------------------------------------- -----------
Societe Guadaloupeenne de Carton Ondule FRW
- ----------------------------------------------------------- -----------
SP Forests L.L.C. DE
Transtates Properties, Inc. DE
The Branigar Organization IL
Branigar Credit Corporation IL
Branigar Properties, Inc. GA
Sherwood & James Advertising, Inc. DE
- ----------------------------------------------------------- -----------
Spectra Serve, Inc. DE
- ----------------------------------------------------------- -----------
Sustainable Forest L.L.C. DE
- ----------------------------------------------------------- -----------
Sustainable Forest Technologies, Inc. LA
- ----------------------------------------------------------- -----------
Taussig's Graphic Supply Inc. DE
- ----------------------------------------------------------- -----------
The Long-Bell Petroleum Company, Inc. DE
- ----------------------------------------------------------- -----------
Ticonderoga Assets II, Inc. DE
- ----------------------------------------------------------- -----------
Timberlands Capital Corp. III, Inc. DE
- ----------------------------------------------------------- -----------
Timberlands #2 L.L.C. DE
- ----------------------------------------------------------- -----------
Timberland Capital Corp., Inc. DE
- ----------------------------------------------------------- -----------
Timberland Capital Corp. II, Inc. DE
- ----------------------------------------------------------- -----------
U.C. Realty Corp. DE
- ----------------------------------------------------------- -----------
Union Camp Argentina, S.A. ARG
Puntapel, S.A. ARG
- ----------------------------------------------------------- -----------
Union Camp Business Development Corp. DE
- ----------------------------------------------------------- -----------
Union Camp Chile, S.A. CHILE
- ----------------------------------------------------------- -----------
Union Camp Foreign Sales Corp. BARB-
ADOS
- ----------------------------------------------------------- -----------
Union Camp Holding B.V. NET
- ----------------------------------------------------------- -------------
Union Camp Holdings Chile, S.A. CHILE
- ----------------------------------------------------------- -------------
- ----------------------------------------------------------- -------------
Union Camp Holdings Limited IRE
- ----------------------------------------------------------- -------------
Union Camp Hong Kong Ltd. HK
Eastgate Packaging Ltd. HK
92 XIN LI Paper Packaging Co., Ltd. PRC
Eastgate Packaging (Chergdu) Ltd. PRC
- ----------------------------------------------------------- -------------
Union Camp Patent Holding, Inc. DE
- ----------------------------------------------------------- -------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------- -----------------------------------------------------------------------
SUBSIDIARY NAME ADDRESS
- ----------------------------------------------------------- -----------------------------------------------------------------------
<S> <C>
Bush Boake Allen, Inc. 7 Mercedes Drive, Montvale, NJ 07645
Aslen Investments, Inc. 7 Mercedes Drive, Montvale, NJ 07645
Bush Boake Allen Enterprises Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK
Bush Boake Allen Holdings (UK) Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK
Bush Boake Allen, Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK
A. Boake, Roberts & Company (Holdings) Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK
Bush Boake Allen Australia, Ltd. 310 Frankston Road, Dandendong, Victoria, Australia
Bush Boake Allen Singapore Pte, Ltd. 1 Enterprise Road, Jurong - Singapore 2262
Bush Boake Allen (India) Limited 1-5 Seven Wells Street, St. Thomas Mount, Madras 6000 16 India
Bush Boake Allen Benelux BV Cypresbaan 14, 2908 Lt. Capelle Aan Den I Jssel, The Netherlands
Bush Boake Allen Guangzhou Company Ltd. 191 Dong Jiang Da Dao, Guangzhou Economic & Technical Development Zone,
Guangzhou City, Guangzhou Province, PRC 510730
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Technology, Inc. 1600 Valley Road, Room 317, Wayne, NJ 07470
- ----------------------------------------------------------- ------------------------------------------------------------------------
Union Camp Trading, S.A.
Escort City Enterprises
Union Camp Chemicals Ltd. Vigo Lane, Chester-le-Street, Co. Durham DH2 2RB, UK
Union Camp Chemicals (Pension Trustees) Ltd.
- ----------------------------------------------------------- ------------------------------------------------------------------------
73 VSQ Ltd.
- ----------------------------------------------------------- ------------------------------------------------------------------------
Weston Paper and Manufacturing Co. Box Co. Two Manhattanville Road, Purchase, NY 10577
Wabash Fibre Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
Zellerbach Paper Company (inactive) Two Manhattanville Road, Purchase, NY 10577
- ----------------------------------------------------------- ------------------------------------------------------------------------
751178 Ontario Limited c/o Borden & Elliot, Scotia Plaza, 40 King Street West, Toronto,
Ontario CAN M5H 3Y4
- ----------------------------------------------------------- ------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------- -----------
PLACE
SUBSIDIARY NAME OF INC.
- ----------------------------------------------------------- -----------
<S> <C>
Bush Boake Allen, Inc. VA
Aslen Investments, Inc. VA
Bush Boake Allen Enterprises Ltd. UK
Bush Boake Allen Holdings (UK) Ltd. UK
Bush Boake Allen, Ltd. UK
A. Boake, Roberts & Company (Holdings) Ltd. UK
Bush Boake Allen Australia, Ltd. AUS
Bush Boake Allen Singapore Pte, Ltd. SING
Bush Boake Allen (India) Limited IND
Bush Boake Allen Benelux BV NET
Bush Boake Allen Guangzhou Company Ltd. PRC
- ----------------------------------------------------------- -----------
Union Camp Technology, Inc. VA
- ----------------------------------------------------------- -------------
Union Camp Trading, S.A. ARG
Escort City Enterprises UK
Union Camp Chemicals Ltd. UK
Union Camp Chemicals (Pension Trustees) Ltd. UK
- ----------------------------------------------------------- -------------
73 VSQ Ltd. UK
- ----------------------------------------------------------- -------------
Weston Paper and Manufacturing Co. Box Co. OH
Wabash Fibre AR
- ----------------------------------------------------------- -------------
Zellerbach Paper Company (inactive) CA
- ----------------------------------------------------------- -------------
751178 Ontario Limited CAN
- ----------------------------------------------------------- -------------
</TABLE>
** Saratoga Development Corporation - holds 50% of Curtis/Palmer
Hydroelectric Company L.P.
(o) Carter Holt Harvey - 50.31% held by Ngahere Aotearoa
(p) Shanghai Int'l. Paper CNPC - 45% owned by China Nat'l Pkg. Corp.
<PAGE>
Exhibit A
ITEM (2)
Balance Sheet
And
Income Statement
Saratoga Development Corporation
<PAGE>
SARATOGA DEVELOPMENT CORPORATION
BALANCE SHEET
AS OF DECEMBER 31, 1998 AND 1999
<TABLE>
<CAPTION>
December 31,
1998 1999
<S> <C> <C>
ASSETS
Current Assets:
Amounts Due From/(To) Subsidiaries
Inter-Company Receivable (Non-Trade) $46,333,306 $52,349,938
Other Assests and Deferred Charges:
Investment at Equity 10,448,950 10,448,950
Other Deferred Charges 26 26
---------- ----------
Total Other Assets and Deferred Charges 10,448,976 10,448,976
---------- ----------
TOTAL ASSETS $56,782,282 $62,798,914
========== ==========
LIABILITIES
Current Liabilities
Prior Year State and Local Taxes $ 0 $ 51,000
Prior Year State and Local Taxes (48,613) (48,613)
Current Year State Income Tax Provision 4,851,189 5,361,189
---------- ----------
Total 4,802,576 5,363,576
---------- ----------
Minority Interest 27,212,701 36,319,114
---------- ----------
Deferred Income Taxes
Deferred Federal Income Income Taxes 12,041,919 12,041,919
Deferred State and Local Income Taxes 3,964,786 3,964,786
---------- ----------
Total 16,006,705 16,006,705
---------- ----------
TOTAL LIABILITIES $48,021,982 $57,689,395
---------- ----------
EQUITY
Common Stock 100 100
Retained Earnings 8,760,200 5,109,419
---------- ----------
TOTAL EQUITY $ 8,760,300 $ 5,109,519
---------- ----------
TOTAL LIABILITIES AND EQUITY $56,782,282 $62,798,914
========== ==========
</TABLE>
<PAGE>
SARATOGA DEVELOPMENT CORPORATION
INCOME STATEMENT
FOR PERIODS ENDING DECEMBER 31 1998 AND 1999
<TABLE>
<CAPTION>
December 31,
1998 1999
<S> <C> <C>
OTHER INCOME/EXPENSE
Dividend Income Consolidated Subsidiaries
Consolidated Subsidiaries Domestic $4,000,000 $6,000,000
Other Expense
Minority Interest Expense (8,144,214) (9,106,413)
Taxes Other Than Income 95 0
--------- ---------
Total Earning/(Loss) Before Income Taxes ($4,144,309) ($3,106,413)
========= =========
Provision for Income Taxes
Current
U.S. Federal Income Taxes $3,208,123 $ 0
State and Local Income Taxes 1,775,000 544,368
--------- ---------
Total 4,983,123 544,368
--------- ---------
Deferred
U.S. Federal Income Taxes (422,300) 0
State and Local Income Taxes (136,000) 0
--------- ---------
Total (558,300) 0
--------- ---------
Total Provision for Income Tax $4,424,823) $ 544,368
========= =========
Net Income/(Loss) ($8,569,132) ($3,650,781)
========= =========
</TABLE>
