INTERNATIONAL PAPER COMPANY
1999 AND 1998 SALES BY INDUSTRY SEGMENT
PRELIMINARY AND UNAUDITED
(In Millions)
Three Months Ended Three Months Ended Six Months Ended
March 31, June 30, June 30,
---------------------- ---------------------- -----------------------
1999 (a) 1998 (a) 1999 1998 (a) 1999 1998 (a)
-------- -------- -------- -------- -------- --------
Printing & Communications Papers $ 1,475 $ 1,585 $ 1,405 $ 1,480 $ 2,880 $ 3,065
Industrial & Consumer Packaging 1,675 1,730 1,760 1,790 3,435 3,520
Distribution 1,700 1,410 1,675 1,380 3,375 2,790
Chemicals & Petroleum 350 365 360 375 710 740
Forest Products 785 715 815 715 1,600 1,430
Carter Holt Harvey 365 415 400 365 765 780
Coporate and Intersegment Sales (318) (214) (419) (272) (737) (486)
-------- -------- -------- -------- -------- --------
Net Sales $ 6,032 $ 6,006 $ 5,996 $ 5,833 $ 12,028 $ 11,839
======== ======== ======== ======== ======== ========
Three Months Ended Three Months Ended Twelve Months Ended
September 30, 1998 (a) December 31, 1998 (a) December 31, 1998 (a)
---------------------- --------------------- ---------------------
Printing & Communications Papers $ 1,455 $ 1,395 $ 5,915
Industrial & Consumer Packaging 1,765 1,725 7,010
Distribution 1,685 1,805 6,280
Chemicals & Petroleum 370 355 1,465
Forest Products 725 775 2,930
Carter Holt Harvey 345 380 1,505
Coporate and Intersegment Sales (313) (327) (1,126)
-------- -------- --------
Net Sales $ 6,032 $ 6,108 $ 23,979
======== ======== ========
(a) Amounts have been restated to reflect the merger with Union Camp.
INTERNATIONAL PAPER COMPANY
1999 AND 1998 SEGMENT EARNINGS BEFORE SPECIAL ITEMS
PRELIMINARY AND UNAUDITED
(In Millions)
Three Months Ended Three Months Ended Six Months Ended
March 31, June 30, June 30,
---------------------- ---------------------- -----------------------
1999 (a) 1998 (a) 1999 1998 (a) 1999 1998 (a)
-------- -------- -------- -------- -------- --------
Printing & Communications Papers $ 8 $ 98 $ 22 $ 77 $ 30 $ 175
Industrial & Consumer Packaging 56 90 142 110 198 200
Distribution 24 17 27 20 51 37
Chemicals & Petroleum 19 30 28 31 47 61
Forest Products 174 125 175 136 349 261
Carter Holt Harvey (b) 0 4 11 15
-------- -------- -------- --------
Total From Businesses (c) $ 281 $ 364 $ 385 $ 749
======== ======== ======== ========
Three Months Ended Three Months Ended Twelve Months Ended
September 30, 1998 (a) December 31, 1998 (a) December 31, 1998 (a)
---------------------- --------------------- ---------------------
Printing & Communications Papers $ 34 $ (31) $ 178
Industrial & Consumer Packaging 95 39 334
Distribution 23 26 86
Chemicals & Petroleum 34 42 137
Forest Products 154 207 622
Carter Holt Harvey (1) 6 20
-------- -------- --------
Total From Businesses (c) $ 339 $ 289 $ 1,377
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(a) Amounts have been restated to reflect the merger with Union Camp.
(b) Carter Holt Harvey is a publicly traded New Zealand corporation; current
quarter earnings cannot be disclosed until a public release has been made by
Carter Holt Harvey.
(c) Total from businesses represents operating profit before net interest
expense, minority interest adjustment, and net corporate items, and special
items as discussed in the press release dated July 13, 1999, announcing earnings
for second quarter of 1999, and the Company's Annual Report on Form 10-K for the
year ended December 31, 1998.