New York (September 7, 2006) — Vinson & Elkins LLP is honored to announce that Barbara L. Smithers, Vice President and Chief Counsel-Transactions at International Paper Company, has joined the firm's New York office as Counsel.

Ms. Smithers' arrival at Vinson & Elkins is part of an ongoing expansion of the law firm's worldwide corporate finance, private equity and securities law practice, according to Walter Stuart, Administrative Partner in V&E;'s New York office and co-head of the firm's securities litigation practice.

"The addition of Barbara deepens our commitment in New York to our firm's corporate and mergers and acquisitions practice," said Mr. Stuart. "V&E;'s clients will benefit tremendously from the two decades of experience Barbara has garnered handling major financial and corporate transactions at International Paper and W.R. Grace & Co."
 
As Chief Counsel for corporate transactions at International Paper (IP) since 2003, Ms. Smithers has substantial background leading multi-billion-dollar mergers and acquisitions as well as handling significant complex, cross-border divestitures. She also gained significant experience in corporate governance and securities work as IP's Corporate Secretary from 2000 until 2003, where she had principal responsibility for compliance with the then newly-enacted Sarbanes-Oxley legislation and changing NYSE rules. She also served on the Board of Directors of the Society of Corporate Secretaries & Governance Professionals.
 
"Barbara brings with her a host of experiences and expertise from being on the inside in some very significant and complex deals as well as being corporate secretary at a Fortune 100 company," added Mr. Stuart. "Barbara has been central to a number of major transactions for International Paper, including the $7 billion acquisition of Champion International, the $1.4 billion sale of IP's Coated Papers division and the $1 billion sale of IP's Weldwood Canadian operations."
 
"Vinson & Elkins' New York office combines the advantages of a medium-sized operation with the flexibility and power of a major national firm with a strong global presence," said Ms. Smithers. "Over the years, I have had the opportunity to work with V&E; on a number of transactions, and I have found its lawyers to be among the most sophisticated and committed in the profession. I am looking forward to continuing the practice of law and serving a wide array of clients with these talented individuals."
 
A 1977 graduate of the University of Chicago Law School, Ms. Smithers was a lawyer at Debevoise & Plimpton in New York from 1977 through 1981. She served as Senior Corporate Counsel at W.R. Grace & Co. throughout the 1980s, acting as lead lawyer in a broad array of stock and asset acquisitions, joint venture and partnership transactions. Ms. Smithers took a sabbatical, starting in 1989, to raise her family and be more involved with community and church matters. In 1997, she joined International Paper as Senior Counsel for Corporate Development.
 
For more information, please contact Barbara Smithers at 212.237.0030 or via e-mail at bsmithers@velaw.com. Or you may contact Ashley Battelle at 713.758.2052 or via e-mail at abattelle@velaw.com.

Vinson & Elkins was established in 1917 and is one of the world's largest international law firms. The firm has about 700 lawyers practicing in Austin, Beijing, Dallas, Dubai, Houston, London, Moscow, New York, Shanghai, Tokyo and Washington D.C. Vinson & Elkins offers a wide range of legal services. Clients include public and private companies, financial institutions, municipalities, governments of sovereign nations, entrepreneurs, families and individuals.