U-3A-2 1 0001.txt INTERNATIONAL PAPER U-3A-2 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 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 (to be provided by subsequent supplemental filing). On June 16, 2000 International Paper acquired a controlling interest in Champion International Corporation, "Champion" and operated Champion as a wholly owned subsidiary of International Paper until December 31, 2000 at which time Champion was merged into International Paper. 2. (a) The subsidiaries of International Paper which are "electric utility companies" as defined in Section 2(a)(3) of the HCA are Saratoga Development Corporation ("Saratoga") and IP-Hydro L.L.C., "IP-Hydro". Saratoga is a New York corporation having its principal executive offices at Two Manhattanville 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. IP-Hydro is a Delaware limited liability company having its principal executive offices at Two Manhattanville Road, Purchase, New York 10577. IP-Hydro has as its principal business activities its activities as a general and limited partner (owning a 50% partnership interest) of Curtis Palmer. (In November of 2000 IP-Hydro acquired the 50% partnership interest in Curtis Palmer which had been previously held by three partners who were not affiliated with International Paper. 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 three other FERC license hydroelectric power projects which sold electric energy in 2000, as follows: (i) 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; (ii) 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 (iii) 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. 2. (c) International Paper also owns twelve qualified cogeneration facilities which sold electric energy in 2000: the Androscoggin Facility in Jay, Maine which has a capacity of approximately 80.0 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; the Savannah Facility in Savannah, Georgia, which has a capacity of approximately 160 MW; the Ticonderoga Facility in Ticonderoga, New York, which has a capacity of approximately 42 MW; the Vicksburg Facility in Vicksburg, Mississippi, which has a capacity of approximately 54 MW; the Pensacola Facility (former Champion), in Pensacola, Florida with a capacity of approximately 92 MW; the Bucksport Facility (former Champion) in Bucksport, Maine which has a capacity of approximately 93 MW. In addition, as a result of the Champion acquisition, International Paper holds a 28% tenancy in common undivided ownership interest in a recently completed 176 MW qualifying cogeneration facility, the "Bucksport Energy Center" adjacent to the Bucksport Facility in Bucksport, Maine. Because all of 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 2000 were at wholesale and were as follows:
Hydropower MWH Revenues ---------- --- -------- Curtis/Palmer Hydroelectric Company (1) 331,600 $ 41,284,200.00 Otis Hydroelectric Company (2) 54,012 $ 2,305,412.55 Woronoco 3,795 $ 148,851.00 Turners Falls 3,353 $ 96,711.00
(1) International Paper controls 50% of Curtis/Palmer through its subsidiary Saratoga Development Copororation and 50% of Curtis/Palmer through its subsidiary, IP-Hydro L.L.C. (2) International Paper controls 50% of Otis through its subsidiary Chisholm Development Corporation.
Other Qualifying Facilities MWH Revenues --------------------------- --- -------- Androscoggin 92 $ 287,986.10 Eastover 22,618 $ 557,889.04 Erie 1,281 $ 34,469.52 Leola 1 242 $ 28,251.57 Lockhaven 4,096 $ 150,219.39 Natchez 19 $ 403.03 Riverdale 20,131 $ 506,359.00
Savannah 24,189 $ 964,880.00 Ticonderoga 49 $ 3,901.00 Vicksburg 439 $ 25,336.00 Pensacola 712 $ 14,960.14 Bucksport 179,251 $ 15,146,439.12 Bucksport Energy Center 92,943 $ 5,733,524.19 -------- ---------------- Total (including previous page) 740,022 $ 67,289,792.65
3. (b) and (c) In 2000, 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 2000, 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 2000, 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. 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, 2000, 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, 2000, 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, 2000, of IP-Hydro and Curtis/Palmer Hydroelectric Company L.P. have not been finalized, and when they are ready a copy of each will be filed with the Securities Exchange Commission as an amendment to this filing. Signature The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 28th day of February, 2001. INTERNATIONAL PAPER COMPANY (Name of Claimant) By: /s/ Andrew R. Lessin ______________________ Vice President & Chief Accounting Officer Attest: /s/ Barbara L. Smithers _______________________ 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 ATTACHMENT I INTERNATIONAL PAPER COMPANY AND SUBSIDIARIES SUBSIDIARIES (more than 50% voting control) (excluding shelf companies) OF INTERNATIONAL PAPER COMPANY (a New York corporation) Two Manhattanville Road Purchase, New York 10577 Subsidiaries at the left margin are directly owned by International Paper Company. Subsidiaries at the first indention are owned by the subsidiaries at the left margin. Subsidiaries indented further are owned by the subsidiaries under which they are indented.
PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- ABC Container Corporation Two Manhattanville Road, Purchase, NY 10577 DE Alcor Envelope Company, Inc., The 160 Elm Avenue, Hamburg, NY 14075 NY Allegheny Railroad Company Two Manhattanville Road, Purchase, NY 10577 PA American Central Corporation 3 Paragon Drive, Montvale, NJ 07645 MI American Central Company (a Massachusetts Trust) 3 Paragon Drive, Montvale, NJ 07645 MA Grandland Corporation 3731 S. Braden Place, Tulsa, OK OK Anitec Image International B.V. Nieuwenheizenweg 10, 2314 XR Leiden, Netherland NET Arizona Chemical AS Greakerveien 127, N-1720, Greaker, Norway NOR Arizona Chemical Company 1001 E. Business, Highway 98, Panama City, FL DE Arizona Chemical Oy P.O. Box 165, Fin-90101 Oulo, FIN FIN Velarium Oy Ab FIN Beckett Paper Company, The (nameholding company) Two Manhattanville Road, Purchase, NY 10577 DE Bodcaw Company Two Manhattanville Road, Purchase, NY 10577 DE Camp Manufacturing Company (inactive) Franklin, VA 23851 VA Cartonajes International, S.A. General Yague 20,2B, 28020 Madrid, Spain SPA Cartonejas Union S.A. Germanias 23, 1-A, 46700 Gandia (Valencia) Spain SPA Inducar Apartado 156, 38200 La Lagune (Tenerife), Spain SPA Champion International Corporation See attached charts of Champion subsidiaries and inactives Champlain Investments (Bermuda), Inc. Clarendon House, 2 Church St., P.O. Box HM 1022, Hamilton HM DE DX, Bermuda Trout Creek Equipment Leasing, L.P. c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 DE Zurich, Switzerland Ticonderoga Assets, Inc. c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 DE Zurich, Switzerland Ticonderoga Assets II, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Chisholm Development Corporation Two Manhattanville Road, Purchase, NY 10577 ME Emballages Laurent S.A. Ave. Louis Jacques Thenard, 71 100, Chalon-sur-Saone, France FRA Envases Internacional S.A Edificio Seguros Sudamerica, Penthouse G, Avenida VEN Francisco de Miranda, Urb. El Rosal, Caracas, Venezuela FPB Augusta, Inc. Two Manhattanville Road, Purchase, NY 10577 DE FPB Property Holdings Corporation Two Manhattanville Road, Purchase, NY 10577 DE Federal Forestlands, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Food Pack S.A. Panamericana Norte 5201, Renca, Santiago, Chile ARG Food Pack Argentina S.A. Forest Land Investments, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Fort Ticonderoga Investments, Inc. Two Manhattanville Road, Purchase, NY 10577 DE GCO Minerals Company 1600 Smith Street, Suite 3600, Houston, TX 77002 TX IP Farms, Inc. 1600 Smith Street, Suite 3600, Houston, TX 77002 DE Chocolate Bayou Water Company 1600 Smith Street, Suite 3600, Houston, TX 77002 DE IPF, Inc. (liquidated early 2001) 1600 Smith Street, Suite 3600, Houston, TX 77002 DE Green Mountains Holdings A.G. Schlumpf & Partner, Treuhand AG, Lowenstrasse 1, 8001, Zurich SWIT Hammermill Paper Company (inactive) Two Manhattanville Road, Purchase, NY 10577 DE Horsell, Limited Howley Park Estate, Morley, Leeds LS27 OQT, England ENG
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- Ilford Anitec S.a.r.L. Thiebaud & von der Weid, Advocats, Rue de Romont 35, CH-1700 SWIT Fribourg, Switzerland Imperial Bondware Corp. -- Dissolved Two Manhattanville Road, Purchase, NY 10577 OH Federal Paper Board (India), Inc. Two Manhattanville Road, Purchase, NY 10577 DE Impresora del YagueYaque, C. por A. Autopista Santiago Navarrete, Kilometro 2 1/2, Santiago, DOM Dominican Republic International Logging Corporation Two Manhattanville Road, Purchase, NY 10577 NY International Paper -- 3, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper -- 16, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper de Mexico, S.A. de C.V. Carr. 57 Queretaro-San Luis Potosi, Km. 60.2, 37980, San MX Jose Iturbide, Guanajualo, Mexico International Paper Envases de Mexico, S.A. de Montes Urales 723 P.B. Lomas de Chapultepec, Delegacion MX C.V. Miguel Hidalgo, Mexico, DF 11000 Mexico International Paper Comercial de Mexico, S.A. de Independencia 800 Altos, Col Centro, 31000 Chihuahua, Mexico C.V. International Paper Tecnologia en Empaque, S.A. Montes Urales 723 -- PH, Col. Lomas de Chapultepec, 11000 MX de C.V. Mexico, D.F. Oficina Central de Servicios, S.A. de C.V. Av. Herolco Colegio Militar 3705, Col. Mombre de Dios, C.P. MX 31110 Mexico Papelera Kif de Mexico, S.A. de C.V. Av. Lopez Mateos No. 2050, Interior A42, Col. Jardines de MX xpedx, S.A. de C.V. San Jose, 32390 Cd. Juarez, Chihuahua, Mexico International Paper -- 22, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Foreign Sales Corporation Trident Trust Company (V.I.), Suite 208 Citibank Building, Veterans Drive, Charlotte Amalle USVI St. Thomas, U.S. V.I. 00801 International Paper -- 26, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper -- 34, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Bolsaflex, S.A. Avenida Derqui 3906, Buenos Aires, Argentina ARG International Paper -- 35, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Envases Puras de Columbia Columbia International Paper (Asia) Limited 1401-1407 Shui On Centre, 6-8 Harbour Rd., Wanchai, Hong Kong HK International Paper (Belgium) S.A. Blvd. de la Woluwe 100, 1200 Brussels, Belgium BEL International Paper (Bermuda), Inc. Clarendon House, 2 Church St., P.O. Box HM 1022, Hamilton HM DE DX, Bermuda Georgetown Assets Inc. c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 DE Zurich, Switzerland Georgetown Equipment Leasing Associates, LP c/o Pestalozzi, Gmuer & Patry, Lowenstrasse 1, CH-9001 DE Zurich, Switzerland Georgetown Assets II Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Brasil Ltda. Rua Saloado Amarillo Goncalves Quieros, Sao Paulo SP, Brazil BRA International Paper Canada, Inc. c/o Borden & Elliot, 40 King St., Suite 4400 Toronto, CAN Ontario, Canada M5H 3Y4 Akrosil Canada, Inc. 7575 Kimbel St., Suite 14, Mississauga, Ontario, Canada L5S 1C8 CAN International Paper Capital Formation, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Chile, S.A. Evaristo Lillo, 1126 Piso, Las Condes, Santiago, Chile CHILI
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- International Paper Cogeneration of Maine, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Company (Delaware) (inactive) Two Manhattanville Road, Purchase, NY 10577 DE International Paper Company de Venezuela, C.A. Edificio Seguros Sudamedca, Penthouse G. Avenue Tamanaco VEN 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) Ltd. Talacker 41, 8001, Zurich, Switzerland SWIT International Paper Company Foundation Two Manhattanville Road, Purchase, NY 10577 NY (Non-profit) International Paper Company (Japan) Limited The Imperial Tower, 1-1, 10th Floor, 1-1 Uchisaiwaicho DE 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 AUS Australia Continental Cup (joint venture/partnership) 37-53 Eurora Street, Kingston QLD, Australia 4114 AUS International Paper de Argentina S.A. Avda. Federcio Lacroze 2252, 7th Floor, 'B,' Federal ARG District, Buenos Aires, Argentina International Paper de El Salvador, S.A. de C.V. FN Km. 7 1/2 Boulevard, Del Ejercifo Nacional, ELSA Soyapango, El Salvador, Central America International Paper Deutschland, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Deutschland, Inc. & Co. An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany GER Holdings KG Gartensiedlungsgesellschaft Gronauer Wald mbH An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany GER Gartensiedlungs-Gesellschaft Gronauer An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany GER Wald mbH & Co. Immobilien oHG Strunder Spedition GmbH Senefelderstrasse 15, 51469 Bergisch Gladbach, Germany GER Zanders Feinpapiere AG (Zanders Feinpapiere AG An der Gohrsmuhle, 51465 Bergisch Gladbach, Germany GER and its subsidiaries were recently sold) Zanders France, S.A. Zone Indusidelle, Route de Piscop -- 95530, FRA International Paper Premium Papers EEIG Saint-Brice-sous-Foret, France An der Gohrsmuhle,, 1465 Bergisch Gladbach, Germany GER Zanders Benelux S.P.R.L. Ave, des Pagodes 1, 1020 Brussels, Belgium BEL Zanders FinePapers Ltd. Chronicle House, Larkfield, Aylesford, Kent, ME20 6SE England ENG Zanders Iberia S.L. Carrer Joan Guell 149 Etio. C., 08028 Barcelona, Spain SPA Zanders International Finance B.V. c/o Deutsche de Bary Trust N.V. Herengracht 450-454, 1017CA NET Amsterdam, Netherland Zanders Italia s.r.l. Via Ca Dell'Orbo n. 13-14, Villanova di Castenaso (Bo) Italy ITA Zanders U.S.A., Inc. 100 Demarest Drive, Wayne, NJ 07470 NJ International Paper Equipment Company Two Manhattanville Road, Purchase, NY 10577 DE International Paper Financial Services, Inc. 6400 Poplar Avenue, Memphis, TN 38197 DE
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- International Paper Finance Company (I) Unit 7A -- Yeadon Airport Industrial Estate, Harrogate Road, ENG Yeadon, West Yorkshire LS19 7WP, United Kingdom International Paper Finance Co. (II) Oy IFSC House, Custom House Quay, Dublin 2, Ireland FIN International Paper France Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Packaging SA B.P. 312, 25 Chemin des Freres Lumiere, 69802, St. Priest FRA France Arizona Chemical S.A. 262 Avenue Jean Jaures, 79000 Niort, France FRA International Paper Emballages Liquidas S.A. B.P. 312, 25 Chemin des Freres Lumiere, 69802, St. Priest FRA France Societe Normande de Carton Ondule 25, rue Michel Salles, 92210 Saint-Cloud, France FRA Societe Mediterrraneanne D'Emballages S.A. 25, rue Michel Salles, 92210 Saint-Cloud, France FRA Societe Moderne D'Emballages S.a.r.L. 25, rue Michel Salles, 92210 Saint-Cloud, France FRA International Paper Investments (France) S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA International Paper Developpement SNC Parc Ariane 5/7 Boulevard des chenes 78284 Guyancourt France FRA International Paper S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA Papeteries du Souche SARL Mill of Anould, BP 1 88230 Fraize Anould France FRA Societe Industrielle des Pates et Papiers SARL Parc Ariane 5/7 boulevard des Chenes 78284 Guyancourt France FRA Soder SNC 17, avenue Maillard 19104 Brive France FRA Societe Papetiere de Financement SARL Parc Ariane 5/7 boulevard des Chenes 78284 Guyancourt France FRA Bois et Papiers Participations S.A.R.L Parc Ariane 5/7 boulevard des chenes 78284 Guyancourt, France FRA Papeteries de France S.N.C. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA Aussedat Rey Nederland B.V. DeBoelelaan 575A, 1082 RM Amsterdam, The Netherland NET Aussedat Rey (UK) Limited Hill House, McDonald Road, Highgate Hill, LONDON N19 5NA UK ENG Celimo Cellulose du Limousin S.N.C. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA Comptoir des Bois de Brive S.N.C. 17, avenue Maillard, 19104 Brive Cedex, France FRA Corimex S.N.C. Zone Industrielle de Ladoux Cebazal, 63118 Clermont-Ferrand, FRA France International Paper (Deutschland) GmbH Volmerswerther Strasse 20, 40221, Dusseldorf, Germany GER International Paper (Espana), S.L. Munlaner 200, Atico 7 E-08036, Barcelona, Spain SPA Papeteries duPont de Claix S.A.R.L. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA Societe de Reboisement Societe Civile 17, avenue Maillard, 19104 Brive Cedex, France FRA Societe Immobiliere des Papeteries de France 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA S.A. S.P.S.V. S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA Polyrey S.N.C. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA Polyrey Iberica S.A. Calle Ronda 38, 08100 San Fost de Campsentelles, Barcelona, SPA Spain International Paper Benelux S.A. Haachtsesteenweg 162, 1830 Melsbroek, Belgium BEL Polyrey (U.K.) Limited Mattey House, 128-136 High Street, Edgware, Middlesex, HA8 ENG 7EL, UK Arizona Chemical S.A.R.L. 11 Bis Avenue Auber, 06000 Nice, France FRA Cellulose et Papiers de Pologne S.A. 1, rue du Petit Clamart, 78140 Velizy-Villacoublay, France FRA International Paper Industrie France S.A. 25 Chemin des Freres Lumiere, Saint-Priest, Cedex, France FRA International Paper Holding AG Schlumpf & Partner Treuhand AG, Alpenstrasse 12, Zug, SWIT Switzerland International Paper Holdings Chile, S.A. Evaristo Lillo, 1126 Piso, Las Condes, Santiago, Chile CHILI International Paper Holdings Company Two Manhattanville Road, Purchase, NY 10577 DE International Paper Investment Corporation Wilmington Trust Center, 1105 N. Market Street, Suite 1300, DE Wilmington, DE International Paper Czech Republic, s.r.o. Vrsni 54, 182 00 Prada 8, Czech Republic CZE International Paper (Europe) S.A. Boulevard de la Woluwe, 100, 1200 Brussels, Belgium BEL IP Finance (Barbados) Limited Ernest & Young Bldg., Bush Hill, Bay St., Bridgetown, BAR Barbados International Paper Hungary Kereskedelmi Kft. Rumbach Center, Rumbach S.u. 21.H-1075, Budapest, Hungary HUN Siding Administration and Recovery Maximization Two Manhattanville Road, Purchase, NY 10577 AR Company
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- International Paper Investments (CIS) Inc. (US) Two Manhattanville Road, Purchase, NY 10577 DE International Paper Investments (Poland), Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper -- Kwidzyn S.A. ul. Lotnicza 1, 82500 Kwidzyn, Poland POL Bartorex SP.ZO.O. Krobia K. Torunla, 87-162 Lubicz, Poland POL Impap -- SP.ZO.O. ul. 30 Stycznia 35, 83-100 Tczew, Poland POL Tor-Pal SP.ZO.O. ul. Lotnicza 1, 82500 Kwidzyn, Poland POL International Paper -- Klucze S.A. ul. Zawlercianska 1, 32-310 Klucze, Poland POL International Paper Liquid Packaging (Poland) Sp.zo.o POL Sp.zo.o. International Paper Italia S.p.A. Via Ornago, 55, 20040 Bellusco, (Milan) Italy ITA International Paper Jamaica, Ltd. Lot 5, Henderson Avenue, Naggo Head Industrial Estate Naggo JAM Head, Saint Catherine, Jamaica, West Indies International Paper Korea Ltd. IP House, 552-1 Shinsa-dong, Kangnam-ku, Seoul, Korea KOR International Paper -- Masonite Holding Company Ltd. Two Manhattanville Road, Purchase, NY 10577 DE Masonite Korea Yuhan Hoesa 1240 Chungwang-Dong, Korea KOR Masonite (Hangzhou) Fiberboard Corporation Hangzhou Economic and Technological Development Zone, PRC Limited Hangzhou, Zhejiang Prov., PRC Escort City Enterprises Vigo Lane, Chester Le Street, Co. Durham, DH3 2RB, United ENG Kingdom Union Camp Chemicals Ltd. Vigo Lane, Chester Le Street, Co. Durham, DH3 2RB, United ENG Kingdom Union Camp Chemicals (Pension Trustees) Ltd. Vigo Lane, Chester Le Street, Co. Durham, DH3 2RB, United ENG Kingdom International Paper Group (UK) Limited Howley Park Estate, Morley, Leeds LS27 OQT, England ENG International Paper (UK) Limited Inverurie Mills, Aberdeenshire, Scotland, AB51 5NR, UK SCOT International Paper (Leeds) Limited Aberdeenshire, Scotland, A851 5NR, UK (registered office) SCOT Yeadon Industrial Estate, Yeadon, E. Yorkshire, LS19 7WP, IK (mail) IP Information Services Limited Inverurie Mills, Aberdeenshire, Scotland, AB51 5NR, UK SCOT IP UK Operations Holding Limited Howley Park Estate, Morley, Leeds LS27 OQT, England ENG Forest Lines Agencies (UK) Limited Cerdic House, The Dock, Felixtowe, Suffolk, IP11 8TX, ENG England International Paper Company Limited Manor House, 1 The Leatherhead, Surrey KT22 8DH England ENG International Paper Containers (UK) Limited Road 3, Industrial Estate, Winsford, Cheshire, ENG W7 3RJ ENG Veratec First Field Lane, Braunlon, North Devon, EX33 1 ER, England ENG International Paper -- Masonite (Bermuda) c/o Codan Services Limited, Clarendon House, Church Street, BER UnLimited P.O. Box HM 1022, Hamilton HM DX, Bermuda International Paper Holdings Ireland Carrick-on-Shannon, County Leitrim, Ireland IRE Masonite Ireland Carrick-on-Shannon, County Leitrim, Ireland IRE Masonite Europe Segrave House, 19/20 Earlsdorf Terrace, Dublin 2, Ireland IRE Masonite Ireland Research Carrick-on-Shannon, County Leitrim, Ireland IRE International Paper (Papeteries Etienne) Holdings, Two Manhattanville Road, Purchase, NY 10577 FRA Inc. Papeteries Etienne S.A. 29 Avenue de Camargue, 13632 Arles, France International Paper Portfolio Investments, Inc. Two Manhattanville Road, Purchase, NY 10577 DE International Paper Professional Services Two Manhattanville Road, Purchase, NY 10577 DE Corporation International Paper Realty Corporation 3 Paragon Drive, Montvale, NJ 07645 DE Bear Mountain Development Corporation 3 Paragon Drive, Montvale, NJ 07645 DE Haig Point, Inc. 3 Paragon Drive, Montvale, NJ 07645 DE Haig Point Club, Inc. P.O. Box 7319, Hilton Head Island, SC 29938 SC
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- Haig Point Community Association, inc. P.O. Box 7319, Hilton Head Island, SC 29938 SC Haig Point Ferry Company, Inc. P.O. Box 7319, Hilton Head Island, SC 29938 SC Haig Point/Melrose Wastewater Treatment P.O. Box 7319, Hilton Head Island, SC 29938 SC Company, Inc. Haig Point Utility Company, Inc. P.O. Box 7319, Hilton Head Island, SC 29938 SC International Paper (Russia) Holding Company Two Manhattanville Road, Purchase, NY 10577 DE OAO Svetogorsk Need address RUS International Paper Sverige A.B. Box 55066 Odegardelet 48, S-40053 Goteborg, Sweden SWE Arizona Chemical Aktiebolag A.B. Box 66, S-820 22, Sandarne, Sweden SWE Arizona Chemical B.V. 'De Molenberg', Hellingstraat 22H, N-1271, Va Huizen, NET Netherland Arizona Chemical GmbH Bahrenfelder Strasse 244, D-22765 Hamburg, Germnay GER Arizona Chemical Limited Manor House, 1 The Crescent, Leatherhead, Surrey, KT 22 8DH ENG England International Paper Taiwan Ltd. 7th Floor, Walsin Financial Bldg., 117, Sect. 3, Min Sheng TAI East Road, Taipei 10446 Taiwan, Republic of China International Paper Trademark Company 919 Market Street, (Suite 610), Wilmington, DE DE International Paper (Turkey) Holding Company Two Manhattanville Road, Purchase, NY 10577 DE International Pulp Sales Company Two Manhattanville Road, Purchase, NY 10577 DE IPI Corporation Juzen Bldg., 9-6 Nagata-cho 2-chome, Chlyoda-ku, Tokyo 100 JAP Japan IPI s.R.l. Vla Piermarini 19, 06132, San Sisto (Perguia) Italy ITA IP Forest Resources Company Two Manhattanville Road, Purchase, NY 10577 DE IP Investment Holdings Ltd. (inactive) Two Manhattanville Road, Purchase, NY 10577 DE IP Online, Inc. Two Manhattanville Road, Purchase, NY 10577 DE IP Petroleum Company, Inc. 1600 Smith Street, Suite 3600, Houston, TX 77002 DE Longview, Portland & Northern Railway Company 7762 U.S. Hwy. 101, Box 22, Gardiner, OR 97441 WA Masonite Corporation One South Wacker DrIve, Chicago, IL 60606 DE Masonite (Africa) Limited 14th Floor Nedbank Centre, Durban Club Place, Durban 4001, SOAF Republic of So. Africa Ezebilt Products (PTY) Ltd. 322 Mark Street, Waltoo, Silverton, Pretoria 0127, Republic SOAF of So. Africa Masonite CP Ltd. Jason House, Kerry Hill, Horsforth, Leeds, LS 18 4JR, ENG England Masonite Corporation Foreign Holdings Ltd. One South Wacker Drive, Chicago, IL 60606 DE International Paper (Netherlands) B.V. P.O. Box 54128, 3008 JC Rotterdam, The Netherland NET Akrosil Europe B.V. Imstenraderweg 15, 6422 PM Heerlen, The Netherland NET Forest Lines Agencies B.V. Kantoorschip 'Hendrick', P.O. Box 54128, 3008, JC Rotterdam, NET The Netherland Kleefsman B.V. Patimoniumlaan 46-48, 3904 AE Veenendael, The Netherland NET Recom B.V. Nieuweweg 283A, 6603 BN Wijchen, The Netherland NET Scaldia Papier B.V. Fabrieksweg 23-27, 6541 BP Nijmegen, The Netherland NET Myrtle Investments, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Ngahere Aotearoa, Inc. Two Manhattanville Road, Purchase, NY 10577 NZ Carter Holt Harvey 640 Great South Road, Manakau City, Auckland, New Zealand NZ PAPCO INC. 3101 International Drive East, Mobile, AL DE
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- Papeteries d'Espaly S.A. Esplay, 43000 le Puy-en-Velay, France FRA Pintu Acquisition Company, Inc. One South Wacker Drive, Chicago, IL 60606 DE Puerto Rico Container Company Carretera Num. 2, KM 15.2, Bayamon, Puerto Rico 00619 DE Saratoga Development Corporation Two Manhattanville Road, Purchase, NY 10577 DE Shanghai International Paper CNPC Ltd. Jinqiao Export Processing Zone, Pudong PRC New Area, Shanghai, People's Republic of China Shanghai International Paper Trading Company Need address PRC Limited Societe Guadaloupeenne de Carton Ondule Boite Postale No. 2, 97101 Besse Terre, Guadeloupe, FWI FRW Spectra Serve, Inc. -- Dissolved Two Manhattanville Road, Purchase, NY 10577 DE Strathmore Paper Company (nameholding company) Two Manhattanville Road, Purchase, NY 10577 DE Sustainable Forests L.L.C. Two Manhattanville Road, Purchase, NY 10577 DE Sustainable Forest Technologies, Inc. 6600 LBJ Freeway, 2nd Floor, Dallas, TX 75240 LA Taussig's Graphic Supply Inc. -- Dissolved 1600 Smith Street, Suite 3600, Houston, TX 77002 DE The Long-Bell Petroleum Company, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Timberlands Capital Corp. II, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Timberlands Capital Corp. III, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Transtates Properties, Inc. 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411 DE The Branigar Organization 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411 IL Branigar Credit Corporation 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411 IL Branigar Properties, Inc. 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411 GA SP Forests L.L.C. Two Manhattanville Road, Purchase, NY 10577 DE White Pines, Inc. (inactive) 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411 IL Sherwood & James Advertising, Inc. 3-D Skidaway Village Walk, Suite 201, Savannah, GA 31411 DE U.C. Realty Corp. Two Manhattanville Road, Purchase, NY 10577 DE Union Camp Argentina, S.A. ARG Puntapel, S.A. Av. Libertador 1258, 1638 Vicente Lopez, Prov. Buenos Aires, ARG Argentina Union Camp Business Development Corporation Two Manhattanville Road, Purchase, NY 10577 DE Union Camp Foreign Sales Corp. Two Manhattanville Road, Purchase, NY 10577 BAR Union Camp Holding B.V. c/o Delta Llyod Bank N.V., Joan Muyskenweg 4, Postbus 231, NET 1098 CJ Amsterdam, The Netherlands Olmuksa Mukavva Sanayi ve Ticaret A.S. Konaklar Mahallesi,Emlak Kredi Bank. Bloku K.5 D.19,80745 4. TUR Levent, Istanbul, Turkey International Paper Ireland Ashbourne, County of Meath, Ireland IRE Union Camp Holdings Limited Ashbourne, County of Meath, Ireland IRE Union Camp Corporation (nameholding company Two Manhattanville Road, Purchase, NY 10577 DE
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PLACE OF SUBSIDIARY NAME ADDRESS INC. ---------------------------------------------------------------------------------------------------------------------------- Union Camp Hong Kong Ltd. Suite A, 61st Floor, Bank of China Tower, 1 Garden Rd., HK Central, Hong Kong Eastgate Packaging Ltd. Room 1606-7, Citimark, 28 Yuen Shun Circuit, Siu Lek Yuen, HK Shatin, N.T. China Chengdu Eastgate Packaging Company PRC GZ XIN LI Paper Packaging Co., Ltd. N. 2 Industrial Zone, Luntou Village, Lunton Road, Haizhu PRC District, Guangzhou, China Union Camp Patent Holding, Inc. Two Manhattanville Road, Purchase, NY 10577 DE Bush Boake Allen Inc. (Bush Boake Allen Inc. and 7 Mercedes Drive, Montvale, NJ 07645 VA its subsidiaries were recently sold) 7 Mercedes Drive, Montvale, NJ 07645 DE Asilan Investments Inc. Blackhorse Lane, Walthamstow, London, E17 5QP, UK ENG Bush Boake Allen Enterprises Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK ENG Bush Boake Allen Holdings (UK) Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK ENG Bush Boake Allen, Ltd. Blackhorse Lane, Walthamstow, London, E17 5QP, UK ENG A. Boake, Roberts & Company (Holdings) Ltd. 310 Frankston Road, Dandendong, Victoria, Australia AUS Bush Boake Allen Australia, Ltd. 1 Enterprise Road, Jurong -- Singapore 2262 SING Bush Boake Allen Singapore Pte, Ltd. 1-5 Seven Wells Street, St. Thomas Mount, Madras 6000 16 India IND Bush Boake Allen (India) Limited Cypresbaan 14, 2908 Lt. Capelle Aan Den I Jssel, The NET Netherlands Bush Boake Allen Benelux BV 191 Dong Jiang Da Dao, Guangzhou Economic & Technical PRC Development Zone, Bush Boake Allen Guangzhou Company Ltd. Guangzhou City, Guangzhou Province, PRC 510730 Union Camp Technology, Inc. Two Manhattanville Road, Purchase, NY 10577 VA Weston Paper and Manufacturing Co., The -- Two Manhattanville Road, Purchase, NY 10577 OH Dissolved Wabash Fibre Box -- Dissolved Two Manhattanville Road, Purchase, NY 10577 AR Zellerbach Paper Company (nameholding company) Two Manhattanville Road, Purchase, NY 10577 CA 751178 Ontario Limited c/o Borden & Elliot, Scotia Plaza, 40 King Street West, CAN Toronto, Ontario CAN M5H 3Y4
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COMPANY ADDRESS INC. ------- ------- ---- CHAMPION SUBSIDIARIES --------------------- Champion International Corporation One Champion Plaza, Stamford, CT 06921 NY Angelina & Neches River Railroad 2225 Spence Street, P.O. Box 1328, Lufkin, TX 75902-1328 TX Company Bucksport Leasing Company River Road, Bucksport, ME 04416 DE Champion Export Corporation One Champion Plaza, Stamford, CT 06921 DE Champion International Asia, Ltd. One Champion Plaza, Stamford, CT 06921 DE Champion International Capital One Champion Plaza, Stamford, CT 06921 DE Corporation Champion International de Mexico, One Champion Plaza, Stamford, CT 06921 DE Inc. Champion International Europe, Inc. One Champion Plaza, Stamford, CT 06921 DE Champion Papers Import Corporation One Champion Plaza, Stamford, CT 06921 DE Champion Papers Inc. Knightsbridge Drive, Hamilton, OH 45020 OH Champion Papel e Celulose Ltda. Rodovia SP-340, Km 171, Mogi Guacu, SP, 13840-970, Brazil Brazil Chamflora Amapa Rua Claudio Lucio Monteiro, s/n no. 0, Beira Rio, casa n no. 0 3, Brazil Agroflorestal Ltda. Bairro Novo Horizonte-Santana-Amapa, Brazil Chamflora Mogi Guacu Rodovia SP-340, Km 171, Mogi Guacu -- SP, 13840-970 Brazil Agroflorestal Ltda. Chamflora Tres Lagoas Av. Aldair Rosa de Oliveira, 1652, Vila Cardoso, Tres Brazil Agroflorestal Ltda. Lagoas, , 79640-000, Brazil Inpacel -- Agroflorestal Rodovia Municipal DR 001, Km 07 -- Fazenda, Barra Mansa Brazil Ltda. s/n no. 0 84990-000, Arapoti, Parana, Brazil Inpacel -- Industria de Rodovia Municipal DR 001, Km 07 -- Fazenda, Barra Mansa Brazil Papel Arapoti S.A. s/n no. 0 84990-000, Arapoti, Parana, Brazil Inverdays Company S.A. Juncal 1305, Piso 21, Montevideo, Uruguay (See CSMP for Uruguay mailing address) Tres Lagoas Agroflorestal Av. Aldair Rosa de Oliveira, 1652, Vila Cardoso, Tres Brazil Ltda. Lagoas, MS, 79640-000, Brazil Amapa Florestal e Celulose Rua Claudio Lucio Monteiro, s/n no. 0., Beira Rio, casa Brazil S.A. -- Amcel n no. 0 3, Bairro, Novo Horizonte Santana -- Amapa, Brazil Champion Realty Corporation Four Greenspoint Plaza, Suite 1400, 16945 Northchase Drive, DE Houston, TX 77060 Northwest Crossings Four Greenspoint Plaza, Suite 1400, 16945 Northchase Drive, DE Houston, TX 77060 Eagle Harbor Realty 1880 Eagle Harbor Parkway, Orange Park, FL 32073 FL Associates Eagle Harbor at Flemming 1880 Eagle Harbor Parkway, Orange Park, FL 32073 FL Island (JV) Champion Recycling Corporation One Champion Plaza, Stamford, CT 06921 DE Champion Investments (Bermuda), Inc. Blv. De la Woluwe, 100, B-200, Brussels, Belgium DE IP Pacific Timberlands, Inc. 1011 East Main, Suite 303, Puyallup, WA 98372 DE Lake Superior Land Company 101 Red Jacket Road, Calumet, MI 49913 DE Moskow, Camden & San Augustine Box 128, Camden, Polk County, TX 75934 TX Railroad Southland Energy Company Two Greenspoint Plaza, 16825 Northchase Drive, Houstin, TX TX Cariboo Pulp & Paper Company 1055 West Hastings Street, Vancouver, B.C. V6B 3V8 British Columbia Limited Houston Forest Products 3000 -- 1055 West Georgia Street, Vancouver, B.C. British Columbia (Trustee) Ltd. Houston Forest Products Company 1055 W. Hastings Street, Vancouver, B.C. V6B 3V8 (JV) SFP Acquisitions Inc. 1500 Bankers Hall -- 855, 2nd Street, S.W., Calgary, Alberta Alberta T2P 4J7 Sunpine Inc. c/o P. O. Box 2179, Vancouver, B.C. V6B 3V8 Alberta Suneco Inc. 4500 Bankers Hall East, 855, 2nd St. S.W., Calgary, Alberta Alberta T2P 4K7 Sunpine Forest Products 4500 Bankers Hall East, 855, 2nd St. S.W., Calgary, Alberta Alberta Limited T2P 4K7 Weldwood of Canada Limited 1055 West Hastings Street, Vancouver, PO Box 2179, British British Columbia Columbia V6B 3V8 484577 B.C. Ltd. 8th Floor, 1055 West Hastings St. Vancouver, BC V6B 3V8 British Columbia Westech Wood Products Ltd. 8th Floor, 1055 West Hastings Street, Vancouver, BC V6B 3V8 British Columbia Babine Forest Products Limited c/o PO Box 2179, Vancouver, B.C. V6B 3V8 British Columbia Babine Ventures Ltd. 3000 Royal Centre, PO Box 11130, Vancouver, B.C. V6E 3R3 British Columbia Babine Forest Products c/o PO Box 2179, Vancouver, B.C. V6B 3V8 British Columbia (Trustee) Limited 410503 B.C. LTD. 3000 Royal Centre, P.O. Box 11130, 1055 W. Georgia St., British Columbia Vancouver, BC V6E 3R3 Babine Timber Limited 3000 Royal Centre, P.O. Box 11130, 1055 W. Georgia Street, British Columbia Vancouver, BC V6E 3R3 Decker Lake Forest 3000-1055 W. Georgia St., Vancouver, BC V6E 3R3 British Columbia Products Ltd. (100% Class B Shares) Weldwood International Limited 1055 West Hastings Street, PO Box 2179, Vancouver, B.C. V6B British Columbia 3V8 Weldwood Sales Limited 1055 West Hastings Street, Vancouver, B.C. V6B 3V8 British Columbia Weldwood Transportation Limited 1055 West Hastings Street, PO Box 2179, Vancouver, B.C. V6B British Columbia 3V8
COMPANY ADDRESS INC. ------- ------- ---- CHAMPION INACTIVE SUBSIDIARIES ------------------------------ St. Regis DeCosta Rica, S.A. No office; Books held by Price Waterhouse in San Jose Costa Rica St. Regis Pan Am Ltd. One Champion Plaza, Stamford, CT 06921 DE St. Regis Paper Company (Canada) Ltd. c/o PO Box 2179, Vancouver, BC V6B 3V8 (Voluntary Diss) St Regis International Corporation No office Panama St. Regis Suriname, N.V. No office Suriname Envases Perga de Cuba, SA Assets seized by Castro Cuba Envases Industriales Nicarguerses, SA No office Nicaragua Envases Industriales Nicarguerses, SA No office Nicaragua Neopac, N.A. Mexico Envases Perga de Cuba, SA Cuba HRP Holdings 3000 Royal Centre, P.O. Box 11130, 1055 W. Georgia St. British Columbia Vancouver, BC V6E 3R3 Parkhome Developments Limited 1055 West Hastings Street, Vancouver, B.C. V6B 3V8 British Columbia Champion Forest Products (Alberta) Ltd. c/o P.O. Box 2179, Vancouver, BC VB 3V8 Amalgamated (Voluntary Diss.) 410500 B.C. Ltd. 3000 Royal Centre, P.O. Box 11130, 1055 W. Georgia St., British Columbia Vancouver, BC V6E 3R3 T.K. Ranch Ltd. c/o PO Box 2179, Vancouver, BC V6B 3V8 British Columbia Weldwood Acquisitions Limited 3000 Royal Centre, 1055 West Georgia Street, P.O. Box 11130, British Columbia Vancouver, BC V6E 3R3 Weldwood of Canada Sales Limited 1055 West Hastings Street, Vancouver, B.C. V6B 3V8 Canada (Voluntary Diss) Weldwood Lumber Sales Limited 1055 West Hastings Street, Vancouver, B.C. V6B 3V8 Canada CHAMPION SUBSIDIARIES OWNED LESS THAN 50% ----------------------------------------- Lake Superior Land Company 101 Red Jacket Road, Calumet, MI 49913 DE Porcupine Land Association, 210 North Front Street, Marquette, MI 49855 MI Ltd. (30%) Babine Ventures Ltd. 3000 Royal Centre, PO Box 11130, Vancouver, B.C. V6E 3R3 British Columbia Burnslake Specialty Wood British Columbia Ltd. (44.9%) Weldwood of Canada Limited 1055 West Hastings Street, Vancouver, PO Box 2179, British British Columbia Columbia V6B 3V8 Seaboard Lumber Sales 3rd Fl., 20 Brooksbank Ave., N. Vancouver, B.C., V7J2B8 Limited (20.37%) Seaboard Shipping Company 3rd Fl., 20 Brooksbank Ave., N. Vancouver, B.C. V7J2B8 Limited (10.07%) Vernon Seed Orchard Company 2500-595 Burrard Street, P.O. Box 49200, Vancouver, B.C., British Columbia Limited (30%) V7X 1L1
Shorewood Packaging Corporation Shorewood Acquisition Corporation of Delaware, Inc. Shorewood Packaging Corporation of Virginia, Inc. Shorewood UK Limited SPC Company of New York, Inc. Shorewood Corporation of Canada Limited Shorewood Packaging Corporation of Canada Limited Shorewood Carton Corporation Limited SPC Corporation Limited Shorewood Digital Corporation Shorewood Holographic Patterns, Inc. Shorewood Packaging Company of Illinois, Inc. Shorewood Packaging Corporation of Alabama Shorewood Packaging Corporation of Connecticut Shorewood Packaging Corporation of Georgia Shorewood Packaging Corporation of Indiana Shorewood Packaging Corporation of Kentucky Shorewood Packaging Corporation of New Jersey Shorewood Packaging Corporation of Oregon Shorewood Packaging of California, Inc. Shorewood Packaging of Delaware, Inc. Shorewood Packaging of North Carolina, Inc. Shor-Wrap, Inc. Shorewood Technologies, Inc. Shorewood UK Ltd. Shorewood EPC Europe Limited SPC Company of Virginia, Inc. SPC Asia Limited SPC (Bermuda) Ltd. Shorewood Asia Ventures, Ltd. (SPC Asia, Ltd. -- 27.5%; SPC (Bermuda) Ltd. -- 27.5%) Shorewood Packaging China Ventures Ltd. Shorewood Packaging (Guangzhou) Co., Ltd. Exhibit A item (2) Balance Sheet And Income Statement Saratoga Development Corporation SARATOGA DEVELOPMENT CORPORATION INCOME STATEMENT FOR PERIODS ENDING DECEMBER 31 1999 AND 2000
December 31, 1999 2000 OTHER INCOME/EXPENSE Dividend Income Consolidated Subsidiaries Consolidated Subsidiaries Domestic $6,000,000 $7,000,000 Other Expense Minority Interest Expense (9,106,413) 0 Taxes Other Than Income 0 0 Total Earning/(Loss) Before Income Taxes ($3,106,413) $7,000,000 Provision for Income Taxes Current U.S. Federal Income Taxes $0 $0 State and Local Income Taxes 544,368 0 Total 544,368 0 Deferred U.S. Federal Income Taxes 0 0 State and Local Income Taxes 0 0 Total 0 0 Total Provision for Income Tax $544,368 $0 Net Income/(Loss) ($3,650,781) $7,000,000
1 of 2 SARATOGA DEVELOPMENT CORPORATION BALANCE SHEET AS OF DECEMBER 31 1999 AND 2000
December 31, 1999 2000 ASSETS Current Assets: Amounts Due From/(To) Subsidiaries Inter-Company Receivable (Non-Trade) $52,349,938 $59,349,938 Other Assets 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 $62,798,914 $69,798,914 LIABILITIES Current Liabilities Prior Year State and Local Taxes $51,000 $51,000 Prior Year State and Local Taxes (48,613) (48,613) Current Year State Income Tax Provision 5,361,189 5,361,189 Total 5,363,576 5,363,576 Minority Interest 36,319,114 0 Deferred Income Taxes Deferred Federal 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 $57,689,395 $21,370,281 EQUITY Common Stock 100 100 Retained Earnings 5,109,419 48,428,533 TOTAL EQUITY $5,109,519 $48,428,633 TOTAL LIABILITIES AND EQUITY $62,798,914 $69,798,914
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