1. COMPUTER HARDWARE REDEPLOYMENT AND DISPOSAL July 19, 2004

2. AGENDA  Market Trends  International Paper Requirements  RetroBox Overview  RetroBox Service Offerings  Custom Value Adds  RetroBox Fee Structure  Partnership History  Financial Analysis  Summary  Q & A

3. MARKET TRENDS  Demand For Information Security And Privacy Protection  Environmental Regulation, Legislation And Grassroots Campaigns  Media Coverage In Popular Press  Unbundling Of Disposal From New Product Purchase  Remarketing Capabilities  Direct Relationship With Disposal Partner

4. IP REQUIREMENTS  Maximize Dollars Returned To International Paper  Guarantee Security Of International Paper Assets  Physical Security At All Process Points  Information And Data Security/Data Destruction  EPA Compliance And Advisory Capabilities  Liability Transfer And Indemnification  Comprehensive Programs  Redeployment, Employee Purchase, Donation  Reporting Capabilities  International Services  Competitive Pricing

5. RETROBOX OVERVIEW  Founded In 1997  Industry Best Practice And Thought Leader  90+ Fortune 500 Clients  90+ Employees  International Coverage  Low Cost Producer  Minority-Owned  Consignment Model

6. RETROBOX SERVICE OFFERINGS  Logistics & Transportation  SecurITy BlankIT Information Security Process  Remarketing/Reuse  Internal Redeployment  Employee Purchase  Charitable Donation  World Sale Information Security Risk Management Total Cost of Ownership Reduction  Lease Verification And Return  Environmental Recycling and Indemnification  Serialized Reporting  Customized Options  Quarterly Reviews

7. IP PROGRAM OVERVIEW Test Inventory SecurITy BlankIT® Test Inventory SecurITy BlankIT® Passed Assets RetroBox Columbus, OH RetroBox Columbus, OH Sellable Salvage Sellable Salvage EPA Compliant Disposal EPA Compliant Disposal > Pick-up Anywhere In The Continental U.S. Within 48-hours > Value Managed Shippers Palletize And Shrink-wrap Assets > Receive And Verify All Asset Piece Counts > Individually Barcode All Assets Failed Assets Internal Redeployment* Internal Redeployment* (Infinite) International Paper Location International Paper Location Charitable Donation* Charitable Donation* Employee Purchase* Employee Purchase* (21 Days) ^ 90-Day Warranty (21 Days) World Sale World Sale (60 Days) ^ 30-Day Warranty * Denotes password-protected portion of retrobox.com

8. DIRECT RELATIONSHIP ADVANTAGE  Consistent Service  One Process To Refine  Standardized National Program  Simple, All-Inclusive Pricing  Easy To Monitor Program Success  Avoidance Of Two-Tier Disposal Process  Unbundled From Product Acquisition

9. INFORMATION SECURITY PIONEER  SecurITy BlankIT Process  All Client Information And Software Are Removed From Electronic Media  Client Asset Tags And Corporate Identifiers Are Removed And Captured  Hard Drive Erasure Procedure Adheres To Department Of Defense Document 5220.22-M Standards  Inoperable Hard Drives And Other Electronic Media Are Degaussed And Shredded  Independent Third Party Validation

10. REMARKETING EXPERTISE  Full Developed Channels  RetroBox.com  Other Internet Portals  Large Volume Sales  Components  Sellable Salvage 20% Better Remarketing Proceeds vs. Competitors

11. INTERNATIONAL  11 Pick-Ups Since January, 2002  Switzerland, Germany, France, Spain, Ireland, Scotland, Great Britain, Belgium, Netherlands, Sweden  1,213 Assets  1.5% Of Total Assets Since 2000  Net Cost = $68,442.00

12. WORLD CLASS DISPOSAL  EPA Compliant  Consistent, Dependable Partner  Manage And Audit Downstream Disposal Companies  Disposal Liability Indemnification  $5 Million Pollution Insurance Coverage  Detailed Reporting  Stampp Corbin, EPA National And Regional Representative

13. IP CUSTOM VALUE ADDS  No Pick-up Minimums Or Additional Charges  Customized Billing And Credit Procedures  Custom Developed Internal Redeployment Program  Asset Management Application Integration  Quarterly Business Review And Consulting  Executive Management Involvement

14. CURRENT IP FEE STRUCTURE  $34.60 Per Asset Fee  Logistics  Asset Identification  Information Security  Environmental Disposal And Indemnification  Reporting  81% Commission On Sales  Logistics  Asset Identification  Information Security  Environmental Disposal And Indemnification  Reporting

15. IP PARTNERSHIP HISTORY  Champion Program Introduced November 1998  IP Program Introduced December 1999  Internal Redeploy Program Introduced August 2002  Over $1,085,000.00 Of Remarketing Proceeds Generated  Average Revenue/Asset Sold = $64.67  Remarketing Expertise  $225,000.00+ In Additional Proceeds To IP

16. PARTNERSHIP 4 YEAR HISTORICAL PERFORMANCE  Declining Program Cost  32.5% Reduction Since 2000  82,974 Assets Processed  Increasing Remarketing Revenues  53.2% Increase Since 2003  2004 Average Revenue/Sold Asset = $90.78  Consistent Program Improvements  Monitor Disposal Only  Check Off Verification List For Shipping Locations  Do Not Send List  Monthly Financial Review  Bi-Weekly Status Calls  Next Day Ship For Internal Redeployment

17. IP BID FEE STRUCTURE  $27.60 Per Asset Fee  Logistics  Asset Identification  Information Security  Environmental Disposal And Indemnification  Reporting  85% Commission On Sales  Remarketing  Warranty  Collections  100% Liability For Returns

18. 1 ST QUARTER 2004 RESTATED

19. 2 ND QUARTER 2004 RESTATED

20. 1 ST HALF 2004 RESTATED

21. SUMMARY  Established Direct Relationship  No Switching Costs  Unbundled From Acquisition  Executive Involvement  Maximum Dollars Returned To International Paper  2004 Results Are Revenue Generating  Declining Overall Program Cost  Industry Best Remarketing  Competitive Pricing Bid Price Reductions Will Further Increase Revenue Generation  Proven Flexibility  Guarantee Security  EPA Compliance  Liability Transfer And Indemnification  Most Comprehensive Program Solutions