8-K

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

Date of Report: October 28, 2003
(Date of earliest event reported)

TEMPLE-INLAND INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-08634	75-1903917
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1300 South MoPac Expressway, Austin, Texas 78746
(Address of Principal Executive Offices)

(512) 434-5800
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

TABLE OF CONTENTS

	Item 7. Exhibits.
	Item 9. Regulation FD Disclosure.
SIGNATURE
EXHIBIT INDEX
EX-99.1 Presentation Materials by K. Jastrow, CEO

Item 7. Exhibits.

(c) Exhibits.

99.1 Presentation materials of Kenneth M. Jastrow, II, Chief Executive Officer of Temple-Inland Inc., used in Mr. Jastrow’s conference call on October 28, 2003, discussing the Company’s earnings for the quarter ended September 27, 2003.

Item 9. Regulation FD Disclosure.

     On October 28, 2003, Kenneth M. Jastrow, II, Chief Executive Officer of Temple-Inland Inc., participated in a conference call discussing the Company’s earnings for the quarter ended September 27, 2003. Copies of the presentation materials used by Mr. Jastrow are furnished as exhibit 99.1 of this report.

SIGNATURE

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

	TEMPLE-INLAND INC
Date: October 28, 2003	By:	/s/ M. Richard Warner
	Name:	M. Richard Warner
	Title:	Vice President and Chief Administrative Officer

EXHIBIT INDEX

Exhibit	Description	Page
99.1	Presentation materials of Kenneth M. Jastrow, II, Chief Executive Officer of Temple-Inland Inc., used in Mr. Jastrow’s conference call on October 28, 2003, discussing the Company’s earnings for the quarter ended September 27, 2003.		4

EX-99.1 3 d09950exv99w1.htm EX-99.1 PRESENTATION MATERIALS BY K. JASTROW, CEO

New York Breakfast Meeting October 28, 2003

This presentation contains forward-looking statements that involve risks and uncertainties. The actual results achieved by Temple-Inland may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include general economic, market, or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Temple-Inland and its subsidiaries; competitive actions by other companies; changes in laws or regulations; the accuracy of certain judgments and estimates concerning the integration of Gaylord into the operations of the company; the accuracy of certain judgments and estimates concerning the company's consolidation and supply chain initiatives; and other factors, many of which are beyond the control of Temple-Inland and its subsidiaries. October 28, 2003

Third Quarter Results Income $ (3) $ 15 $ 156 EPS $ (0.06) $ 0.28 $ 2.87* 3rd Qtr 3rd Qtr 2nd Qtr 2003 2002 2003 TIN 3rd qtr. 2003 special charges - total ($.46 per share) - Project TIP - $13 million ($.24 per share) - Charge to tax expense - $6 million ($.11 per share) - Redemption of 8.25% debt - $6 million ($.11 per share) Early redemption and refinancing of debentures result in lower annual interest expense of $10 million at current market rates Debt reduced by $70 million in 3rd qtr. 2003 and $145 YTD *Results for 2nd qtr. 2003 include (i) one-time tax benefit of $3.05 per share, and (ii) after-tax charge of $0.28 per share

Third Quarter Results (cont'd) Net income (loss) per dil. share $ ( 0.06) $ 0.28 $ 2.87 Excluding special items 0.46 - ( 2.77) Net income per dil. share (adj) $ 0.40 $ 0.28 $ 0.10 Effective tax rate 20% 42% 35% 3rd Qtr 2nd Qtr 2003 2002 2003

Third Quarter Results (cont'd) Operating Income (millions) Corrugated Packaging $ - $ 14 $ 1 Building Products $ 22 $ 12 $ 12 Financial Services $ 49 $ 44 $ 44 $ 71 $ 70 $ 57 3rd Qtr 3rd Qtr 2nd Qtr 2003 2002 2003

Corrugated Packaging Price Average box price down $10/ton vs. 3rd qtr. 2002 and 2nd qtr. 2003 3rd Qtr 3rd Qtr 2nd Qtr 2003 2002 2003 $ - $ 14 $ 1 Operating income (millions)

Corrugated Packaging (Cont'd) Volume - - Despite closure of 3 box plants, box shipments flat vs. 3rd qtr. 2002; industry shipments down 3.2% vs. 3rd qtr. 2002 - - Box shipments improved throughout 3rd qtr. with September 2003 shipments up 2.3% compared with September 2002

Corrugated Packaging (Cont'd) OCC - - OCC prices down $32/ton vs. 3rd qtr. 2002 and down $5/ton vs. 2nd qtr. 2003 Energy - - Energy costs up $9 million vs. 3rd qtr. 2002 - - Energy costs down $5 million vs. 2nd qtr. 2003 $2 million attributable to lower natural gas costs ($0.35 decline per MMBtu) $3 million attributable to lower usage at mills Pension - - Quarterly pension expense up $6 million vs. 3rd qtr. 2002

Building Products 3rd Qtr 3rd Qtr 2nd Qtr 2003 2002 2003 $22 $ 12 $ 12 Operating income (millions) Lumber - - Average price up $27 vs. 3rd qtr. 2002 and up $23 vs. 2nd qtr. 2003 - - Volume up 12% vs. 3rd qtr. 2002 and up 5% vs. 2nd qtr. 2003

Building Products (Cont'd) Particleboard Average price down $8 vs. 3rd qtr. 2002 and down $2 vs. 2nd qtr. 2003 Volume down 9% vs. 3rd qtr. 2002, but up 6% vs. 2nd qtr. 2003 Mt. Jewett particleboard plant indefinitely shut down in 2nd qtr. 2003

Building Products (Cont'd) MDF - - Average price down $27 vs. 3rd qtr. 2002 and down $1 vs. 2nd qtr. 2003 - - Volume down 30% vs. 3rd qtr. 2002 and down 10% vs. 2nd qtr. 2003 - - Clarion MDF plant indefinitely shut down in 3rd qtr. 2003

Building Products (Cont'd) Gypsum - - Average price up $3 vs. 3rd qtr. 2002 and 2nd qtr. 2003 - - Volume down 4% vs. 3rd qtr. 2002, but up 13% vs. 2nd qtr. 2003 High-Value Land Sales - - $2 million in high-value land sales in 3rd qtr. 2003 vs. $1 million in 3rd qtr. 2002 and $5 million in 2nd qtr. 2003 - - Average price 3rd qtr. 2003 approximately $6,000 per acre

Financial Services Costs - - Benefits from cost reduction initiatives exceeds $30 million over last two years 3rd Qtr 3rd Qtr 2nd Qtr 2003 2002 2003 $ 49 $ 44 $ 44 Operating income (millions)

As a % of earning assets Housing Construction 15% 19% 19% 23% Non-residential Real Estate 9% 9% 12% 18% Corporate 16% 12% 12% 14% Single-family Mortgage Assets 60% 60% 57% 45% Total earning assets 100% 100% 100% 100% Target At Year End Allocation 6-30-2003 2002 2001 Loan Portfolio Rebalanced to include higher percentage of single- family, adjustable-rate mortgage assets Financial Services (cont'd)

Financial Services (cont'd) Improved Earnings (millions) 2002 2003 1st qtr. $ 34 $ 39 2nd qtr. $ 37 $ 44 3rd qtr. $ 44 $ 49 4th qtr. $ 56 - Total $ 171 2002 Dividends $125 2003 (First 9 months) $120

Key Actions Status - - Move of corrugated packaging operation to Austin Substantially complete - - Consolidation of administrative functions and System implementation adoption of shared services concept in progress - - Coordinated effort on supply chain (purchasing In progress and transportation) Benefits - - $35 million annual benefit from consolidation and $35 million - YE 2004 shared services - - $40 million annual benefit from expanded supply chain $25 million - YE 2004 initiatives $40 million - YE 2005 Expenses - - Expensed through 3rd qtr. 2003 $36 million - - Estimated expense through 2004 $10 - $15 million Project TIP (Transformation - Innovation - Performance)

EX-99.1

exv99w1