SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

LOWE RICHARD B

(Last)

(First)

(Middle)

C/O INTERNATIONAL PAPER COMPANY

400 ATLANTIC STREET

(Street)

STAMFORD

06921

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/01/2003

3. Issuer Name and Ticker or Trading Symbol
INTERNATIONAL PAPER CO /NEW/ [ IP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	21,309⁽¹⁾	D
Common Stock	2,335⁽¹⁾⁽²⁾	I	By SSP

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Options (right to buy)	01/14/1999	01/14/2007	Common Stock	3,000	$42.875	D
Employee Stock Options (right to buy)	01/13/2000	01/13/2008	Common Stock	4,000	$41.9375	D
Employee Stock Options (right to buy)	01/12/2001	01/12/2009	Common Stock	4,000	$46	D
Employee Stock Options (right to buy)	12/28/1999	01/11/2004	Common Stock	3,000	$54.25	D
Employee Stock Options (right to buy)	01/10/2000	01/09/2006	Common Stock	3,000	$58.625	D
Employee Stock Options (right to buy)	01/11/2002	01/11/2010	Common Stock	9,000	$58.5	D
Employee Stock Options (right to buy)	10/09/2003	10/09/2011	Common Stock	3,550	$35	D
Employee Stock Options (right to buy)	04/09/2004	04/09/2012	Common Stock	7,500	$41.4	D
Employee Stock Options (right to buy)	10/08/2004	10/08/2012	Common Stock	15,000	$32.54	D
Employee Stock Options (right to buy)	04/08/2005	04/08/2013	Common Stock	19,500	$34.96	D
Employee Stock Options (right to buy)	09/19/2003	01/10/2005	Common Stock	1,200	$41.15	D
Employee Stock Options (right to buy)	09/19/2003	01/10/2005	Common Stock	1,800	$41.2	D
Employee Stock Options (right to buy)	10/14/2005	10/14/2013	Common Stock	16,000	$39.14	D
Common Stock	⁽²⁾	⁽²⁾	Common Stock	2,466⁽¹⁾⁽²⁾	$0	I	DCSP

Explanation of Responses:

1. Share numbers are rounded.

2. Investments in the SSP (International Paper Salaried Savings Plan) and DCSP (International Paper Deferred Compensation Savings Plan) are in a unitized fund of shares and cash. The investment in the DCSP operates similar to the SSP company stock fund, and the number of units will vary as the price of the Issuer's common stock varies. Payout of plan is upon retirement.

Remarks:

	Beth Murphree, Attorney-in-Fact for Richard B. Lowe	11/13/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.