8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

May 22, 2008

(Date of Report)

May 21, 2008

(Date of earliest event reported)

INTERNATIONAL PAPER COMPANY

(Exact name of registrant as specified in its charter)

NEW YORK	1-3157	13-0872805
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6400 Poplar Avenue

Memphis, Tennessee 38197

(Address and zip code of principal executive offices)

(901) 419-7000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On May 21, 2008, the Company issued a press release to announce plans to repair the recovery boiler at its Vicksburg, Mississippi containerboard mill. The press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1 Press release of the Company, dated May 21, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INTERNATIONAL PAPER COMPANY
(Registrant)
By:	/s/ Maura Abeln Smith
Name:	Maura Abeln Smith
Title:	Senior Vice President, General Counsel and Corporate Secretary

Date: May 22, 2008

Exhibit Index

Exhibit 99.1 Press release of the Company, dated May 21, 2008.

EX-99.1

Exhibit 99.1

INTERNATIONAL PAPER PLAZA

6400 POPLAR AVENUE

MEMPHIS, TN 38197

News Release

International Paper to Repair Vicksburg Mill Recovery Boiler

Repairs estimated to take six months

MEMPHIS, Tenn.—May 21, 2008— International Paper (NYSE: IP) today announced plans to repair the recovery boiler at its Vicksburg, Miss., containerboard mill and to restart the mill once repairs are complete. The repairs are estimated to take about six months. The boiler has not been operational since an explosion disabled it on May 3, during the start-up from the mill’s routine annual maintenance outage.

The mill is not currently operating and most employees are temporarily laid off. The mill is maintaining minimal staffing to handle essential work tasks while clean-up and repairs are underway.

“The decision to repair the boiler is a very positive long-term decision for the company, the employees and the local community,” said Glenn Landau, vice president and general manager of International Paper’s Containerboard business. “While we do expect challenges in meeting our customers’ demand as a result of Vicksburg’s outage, we will work diligently to minimize disruption during the repair period.”

“While we are working towards the speedy repair of the mill, our thoughts remain with the family of Mr. Broome and those injured in the accident on May 3,” Vicksburg Mill Manager Tom Macher said.

The cause of the May 3 explosion is still under investigation.

The Vicksburg mill employs approximately 307 people and annually produces approximately 550,000 tons of linerboard, a type of paperboard used in corrugated packaging. The mill began operation in 1967. The operation is a Star site member of the Occupational Safety & Health Administration (OSHA) Voluntary Protection Program and prior to the explosion had no serious injuries in more than a year.

About International Paper

International Paper (NYSE:IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company’s North American distribution company. Headquartered in Memphis, Tenn., the company employs more than 50,000 people in more than 20 countries and serves customers worldwide. 2007 net sales were approximately $22 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.

This press release may contain forward-looking statements. These statements reflect management’s current views and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these statements. Factors which could cause actual results to differ include changes in our estimate as to how many hours are required to repair the boiler. Any changes in our estimate could affect the timing of when the mill reopens. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Other factors that could cause or contribute to actual results differing materially from such forward looking statements are discussed in greater detail in the company’s Securities and Exchange Commission filings.

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Contacts: Media, Amy Sawyer, 901-419-4312, amy.sawyer@ipaper.com; Investors, Tom Cleves, 901-419-7566, or Emily Nix, 901-419-4987