TEMPLE INLAND INC 8-K (Events or Changes Between Quarterly Reports) 2009-02-23

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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
_________________
Date of Report: February 23, 2009

(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 (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1300 MoPac Expressway South, 3rd Floor

Austin, Texas 78746
(Address of Principal Executive Offices, including Zip code)
(512) 434-5800
(Registrant's telephone number, including area code)
Not Applicable
(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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))
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Item 7.01. Regulation FD Disclosure.
Attached as Exhibit 99.1 to this Current Report on Form 8-K is an updated version of Temple-Inland’s investor
presentation, which may be used in presentations to investors from time to time. The information in this report shall not
be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Investor presentation materials.
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: February 23, 2009 By: /s/ Randall D. Levy

Name: Randall D. Levy
Title: Chief Financial Officer
Our job is to be the best
Investor Presentation
EXHIBIT INDEX
Exhibit Description Page
99.1 Investor presentation materials 4
Investor Presentation
Forward Looking Statements
This presentation contains “forward-looking statements” within the meaning of

the federal securities laws. These statements reflect management’s current views
with respect to future events and are subject to risk and uncertainties. We note
that a variety of factors and uncertainties could cause our actual results to differ
significantly from the results discussed in the forward-looking statements.
Factors and uncertainties that might cause such differences include, but are not
limited to: general economic, market, or business conditions; the opportunities
(or lack thereof) that may be presented to us and that we may pursue;
fluctuations in costs and expenses including the costs of raw materials,
purchased energy, and freight; changes in interest rates; current conditions in
financial markets could adversely affect our ability to finance our operations;
Forward Looking Statements
This presentation contains “forward-looking statements” within the meaning of

the federal securities laws. These statements reflect management’s current views
with respect to future events and are subject to risk and uncertainties. We note
that a variety of factors and uncertainties could cause our actual results to differ
significantly from the results discussed in the forward-looking statements.
Factors and uncertainties that might cause such differences include, but are not
limited to: general economic, market, or business conditions; the opportunities
(or lack thereof) that may be presented to us and that we may pursue;
fluctuations in costs and expenses including the costs of raw materials,
purchased energy, and freight; changes in interest rates; current conditions in
financial markets could adversely affect our ability to finance our operations;
demand for new housing; accuracy of accounting assumptions related to
impaired assets, pension and postretirement costs, contingency reserves, and
income taxes; competitive actions by other companies; changes in laws or
regulations; our ability to execute certain strategic and business improvement
initiatives; the accuracy of certain judgments and estimates concerning the
integration of acquired operations; and other factors, many of which are beyon
d our control.
This presentation includes non-GAAP financial measures. The required
reconciliations to GAAP financial measures are included on our website,
www.templeinland.com.
Create Superior and Sustainable Value
Maximize ROI
Profitably grow our business

Maximize ROI
2008 Scorecard
Maximize ROI 4.5% ROI

Corrugated Packaging 11.3% ROI
Above cost of capital returns for third consecutive
year
Highest relative improvement last 6 years
Second highest in peer group
Building Products (7.1)% ROI

Significantly outperformed peer group
Cash positive last 3 quarters of 2008
2008 Scorecard
Maximize ROI 4.5% ROI

Corrugated Packaging 11.3% ROI
Above cost of capital returns for third consecutive
year
Highest relative improvement last 6 years
Second highest in peer group
Building Products (7.1)% ROI

Significantly outperformed peer group
Cash positive last 3 quarters of 2008
2008 Actions to Maximize ROI
Improved asset utilization

Box plant transformation
Matched production to demand
Lowered inventories
Exited hardboard siding business
Lowered costs
S, G & A / total cost lowest in industry
Reduced unallocated by $24 million, or 24%
Reduced overall headcount by 11%
Lowered capital expenditures
Reduced capex by $60 million
2008 Actions to Maximize ROI
Improved asset utilization

Box plant transformation
Matched production to demand
Lowered inventories
Exited hardboard siding business
Lowered costs
S, G & A / total cost lowest in industry
Reduced unallocated by $24 million, or 24%
Reduced overall headcount by 11%
Lowered capital expenditures
Reduced capex by $60 million
2008 Actions to Profitably Grow Our

Business
PBL acquisition
GreenGlassTM
2008 Actions to Profitably Grow Our

Business
PBL acquisition
GreenGlassTM
Temple-Inland
Business Description Financial Highlights
Corrugated Packaging ($ in M illions) 2004 2005 2006 2007 2008

Building Products
Revenue $3,587 $3,723 $4,096 $3,850 $3,884
20% EBIT $134 $133 $331 $161 $111

Building
Products
Investment $2,370 $2,431 $2,620 $2,570 $2,484
80% ROI 5.7% 5.5% 12.6% 6.3% 4.5%

Corrugated
Packaging
EBITDA $340 $339 $542 $364 $317
Temple-Inland
Business Description Financial Highlights
Corrugated Packaging ($ in M illions) 2004 2005 2006 2007 2008

Building Products
Revenue $3,587 $3,723 $4,096 $3,850 $3,884
20% EBIT $134 $133 $331 $161 $111

Building
Products
Investment $2,370 $2,431 $2,620 $2,570 $2,484
80% ROI 5.7% 5.5% 12.6% 6.3% 4.5%

Corrugated
Packaging
EBITDA $340 $339 $542 $364 $317
Notes: Excludes 2004-2007 timber and timberland segment results.
Corrugated Packaging Segment Highlights
Business Highlights Financial Highlights

($ in M illions) 2003 2004 2005 2006 2008
7 mills 2007
- 3.9 million tons

Revenue $2,700 $2,736 $2,825 $2,977 $3,044 $3,190
63 converting facilities
- 3.7 million tons EBIT $18 $96 $120 $255 $287 $225
# 3 industry producer
Investment $2,237 $2,042 $2,125 $2,039 $2,004 $1,990
Best-positioned paper grade
ROI 0.8% 4.7% 5.6% 12.5% 14.3% 11.3%
EBITDA $185 $255 $280 $408 $429 $371

Corrugated Packaging Segment Highlights

($ in M illions) 2003 2004 2005 2006 2008
7 mills 2007
- 3.9 million tons

Revenue $2,700 $2,736 $2,825 $2,977 $3,044 $3,190
63 converting facilities
- 3.7 million tons EBIT $18 $96 $120 $255 $287 $225
# 3 industry producer
Investment $2,237 $2,042 $2,125 $2,039 $2,004 $1,990
Best-positioned paper grade
ROI 0.8% 4.7% 5.6% 12.5% 14.3% 11.3%
EBITDA $185 $255 $280 $408 $429 $371
Corrugated Packaging Strategic Initiatives
Maintain high integration level

- Box plant consumption = mill capacity
Drive for low cost
- Asset utilization and manufacturing excellence
Improve mix and margins
- Sales excellence
Grow business
- Organically / Acquisition
Lowering Costs, Improving Efficiencies and Growing Profitable Market Share

Corrugated Packaging Strategic Initiatives
Maintain high integration level

- Box plant consumption = mill capacity
Drive for low cost
- Asset utilization and manufacturing excellence
Improve mix and margins
- Sales excellence
Grow business
- Organically / Acquisition
Lowering Costs, Improving Efficiencies and Growing Profitable Market Share
Integration Level – Highest in the Industry
Temple-Inland is the most integrated producer of corrugated containers

Integration Level – Highest in the Industry
Temple-Inland is the most integrated producer of corrugated containers
10
Lower Converting Costs and Higher

Productivity
Lowering Converting Costs Improving Box Plant Productivity
Cost per ton Boxes per hour
Produced 203,000 tons more boxes despite closure of 12

converting facilities since 2003
Lower Converting Costs and Higher

Productivity
Lowering Converting Costs Improving Box Plant Productivity
Cost per ton Boxes per hour
Produced 203,000 tons more boxes despite closure of 12

converting facilities since 2003
11
24/7 Plants
Biglerville, PA
Crawfordsville, IN
Tracy, CA
Lexington, SC
24/7 Plants
Biglerville, PA
Crawfordsville, IN
Tracy, CA
Lexington, SC
12
Structural Cost Change Underway
Old Future %
Machines 42 22 (48%)
People 920 703 (24%)
$ Cost/Ton (34%)
Fewer machines, fewer people, and lower costs

Structural Cost Change Underway
Old Future %
Machines 42 22 (48%)
People 920 703 (24%)
$ Cost/Ton (34%)
Fewer machines, fewer people, and lower costs
13
Asset Utilization
Lexington Plant – Old Layout
98” CORRUGATOR
Asset Utilization
Lexington Plant – Old Layout
98” CORRUGATOR
12 Machines
14
Asset Utilization
Lexington Plant – New Layout
98” CORRUGATOR
T-CART
T-CART
66” 66”
D/C D/C
Asset Utilization
Lexington Plant – New Layout
98” CORRUGATOR
T-CART
T-CART
66” 66”
D/C D/C
4 Machines
15
Improve Mix and Margins
Centralized pricing decision making

Structured and disciplined approach to
market
Target customers where we can create
value
Improve Mix and Margins
Centralized pricing decision making

Structured and disciplined approach to
market
Target customers where we can create
value
16
Shipments by End-Use Industry
Temple-Inland Industry*
Other Misc. Durable Goods

14% 14%
Misc.
Misc. Mfg. Food & Beverage Nondurables Food & Beverage
3% 63% 4% 49%
Chemicals
4% Chemicals
5%
Rubber & Plastics
5% Rubber & Plastics
6%
Paper & Allied

11%
Paper & Allied
22%
*Source: Fibre Box Association

Shipments by End-Use Industry
Temple-Inland Industry*
Other Misc. Durable Goods

14% 14%
Misc.
Misc. Mfg. Food & Beverage Nondurables Food & Beverage
3% 63% 4% 49%
Chemicals
4% Chemicals
5%
Rubber & Plastics
5% Rubber & Plastics
6%
Paper & Allied

11%
Paper & Allied
22%
*Source: Fibre Box Association
17
Box Shipment Growth Exceeding Industry
Cumulative Shipment Growth

from 2003 - 2008 TIN Converting Facilities
TIN box shipment growth exceeds industry despite

Box Shipment Growth Exceeding Industry
Cumulative Shipment Growth

from 2003 - 2008 TIN Converting Facilities
TIN box shipment growth exceeds industry despite

closure of 12 converting facilities since 2003
18
Premier Boxboard Acquisition Update
Acquired in July 2008 for $87M
4.7x avg. EBITDA inclusive of synergies
Synergy realization ahead of schedule
Ramp-up production of value added white-top

linerboard
Premier Boxboard Acquisition Update
Acquired in July 2008 for $87M
4.7x avg. EBITDA inclusive of synergies
Synergy realization ahead of schedule
Ramp-up production of value added white-top

linerboard
19
Corrugated Packaging – 2nd Highest ROA in

Industry
Change in ROA
Company 2003 - 2008
TIN 8.9% pts
PKG 7.0%
5.1% SSCC 2.3%
4.8% WY (0.1%)
TIN has highest ROA improvement relative to Peer Group
Notes: (1) As reported by segment for TIN, IP and Weyerhaeuser. For TIN and IP, the asset base was adjusted to include acquisitions made in Q3 2008. (2) For PCA, EBIT = Gross profit-selling and
Corrugated Packaging – 2nd Highest ROA in

Industry
Change in ROA
Company 2003 - 2008
TIN 8.9% pts
PKG 7.0%
5.1% SSCC 2.3%
4.8% WY (0.1%)
TIN has highest ROA improvement relative to Peer Group
Notes: (1) As reported by segment for TIN, IP and Weyerhaeuser. For TIN and IP, the asset base was adjusted to include acquisitions made in Q3 2008. (2) For PCA, EBIT = Gross profit-selling and
administrative expenses. (3) For SSCC, EBIT as reported by segment; total assets reported for the company in 2007 and 2008. For prior years, total assets = segment assets + other assets
of $3.3 billion.
20
2008 Comparative Quarterly ROA Trends

2008 Comparative Quarterly ROA Trends
Notes: (1) As reported by segment for TIN, IP and Weyerhaeuser. For TIN and IP, the asset base was adjusted to include acquisitions made in Q3 2008. (2) For PCA EBIT = Gross profit-selling and
administrative expenses. (3) For SSCC, EBIT as reported by segment and total assets reported for the company.
21
North American Corrugated Packaging

Industry Fundamentals
Consolidating industry
Significant capacity rationalization and
downtime
Improved pricing
North American Corrugated Packaging

Industry Fundamentals
Consolidating industry
Significant capacity rationalization and
downtime
Improved pricing
22
North American Containerboard Market Share

1998 versus Today
1998 2009
Top 5 Producers= 42% Top 5 Producers= 74%

North American Containerboard Market Share

1998 versus Today
1998 2009
Top 5 Producers= 42% Top 5 Producers= 74%
23
Corrugated Packaging
Industry Containerboard Capacity Changes and Operating Rate
(Million Short Tons)
Source: RISI Net capacity reductions of 5% from 1999 - 2006

Corrugated Packaging
Industry Containerboard Capacity Changes and Operating Rate
(Million Short Tons)
Source: RISI Net capacity reductions of 5% from 1999 - 2006
24
Linerboard Pricing Trends

Improved Linerboard Pricing
Source: RISI Linerboard ($/ton)
Improved industry fundamentals has led to

higher average prices and reduced volatility
Linerboard Pricing Trends

Improved Linerboard Pricing
Source: RISI Linerboard ($/ton)
Improved industry fundamentals has led to

higher average prices and reduced volatility
25
Corrugated Packaging Summary
Track record of success
Simple, effective strategy…execution =

results
Industry discipline
Corrugated Packaging Summary
Track record of success
Simple, effective strategy…execution =

results
Industry discipline
26
Building Products
Portfolio of Products ($ in Millions) 2004 2005 2006 2007 2008
Lumber Revenue $851 $898 $1,119 $806 $694

Gypsum
Particleboard EBIT $129 $125 $221 $8 ($40)
MDF
Investment $396 $361 $586 $562 $560
Lowest quartile cost converting
operations ROI 32.6% 34.6% 37.7% 1.4% (7.1%)
Located near large, high-growth
markets EBITDA $167 $160 $265 $53 $8
Building Products
Portfolio of Products ($ in Millions) 2004 2005 2006 2007 2008
Lumber Revenue $851 $898 $1,119 $806 $694

Gypsum
Particleboard EBIT $129 $125 $221 $8 ($40)
MDF
Investment $396 $361 $586 $562 $560
Lowest quartile cost converting
operations ROI 32.6% 34.6% 37.7% 1.4% (7.1%)
Located near large, high-growth
markets EBITDA $167 $160 $265 $53 $8
27
Building Products Strategic Initiatives
Deliver tailored portfolio of building products

Products for new home, repair and remodeling
and commercial markets
Drive low cost
Manufacturing excellence
Serve growing markets
Favorable demographics
Provide sales excellence
Unequaled customer service
Building Products Strategic Initiatives
Deliver tailored portfolio of building products

Products for new home, repair and remodeling
and commercial markets
Drive low cost
Manufacturing excellence
Serve growing markets
Favorable demographics
Provide sales excellence
Unequaled customer service
28
Tailored Products
Tailored Products
29
Lumber
Low cost, state of art manufacturing system
Logistically advantaged to large growing markets
Stable fiber supply at market prices
Lumber
Competitive
Sawmill Locations
Position
Pineland
1st
Quartile Diboll
DeQuincy
Buna
2nd Rome
Quartile
3rd
Quartile
Source: Beck &

RISI Studies 4th
Lumber
Low cost, state of art manufacturing system
Logistically advantaged to large growing markets
Stable fiber supply at market prices
Lumber
Competitive
Sawmill Locations
Position
Pineland
1st
Quartile Diboll
DeQuincy
Buna
2nd Rome
Quartile
3rd
Quartile
Source: Beck &

RISI Studies 4th
Quartile Temple-Inland Sawmills
30
Gypsum
Low-cost manufacturing system

Synthetic gypsum furnish 65% vs. 30% for industry
Gypsum
Competitive
Position Synthetic Gypsum Furnish
Cumberland
1st
Quartile Fletcher
2nd
Quartile W. Memphis
McQueeney
3rd
Quartile
Source:
Internal 4th
Analysis Quartile
Gypsum
Low-cost manufacturing system

Synthetic gypsum furnish 65% vs. 30% for industry
Gypsum
Competitive
Position Synthetic Gypsum Furnish
Cumberland
1st
Quartile Fletcher
2nd
Quartile W. Memphis
McQueeney
3rd
Quartile
Source:
Internal 4th
Analysis Quartile
31
Industrial Panels - Particleboard & MDF
Panels
Lowest cost system Competitive
Position
MDF PB
High-value engineered family of Mt. Jewett Monroeville
El Dorado Diboll
products 1st Hope
Quartile Thomson
Targeted markets
Kitchen cabinets 2nd
Quartile
Laminators
3rd
MDF laminate flooring Quartile
4th
Source: Quartile
Beck Study
Industrial Panels - Particleboard & MDF
Panels
Lowest cost system Competitive
Position
MDF PB
High-value engineered family of Mt. Jewett Monroeville
El Dorado Diboll
products 1st Hope
Quartile Thomson
Targeted markets
Kitchen cabinets 2nd
Quartile
Laminators
3rd
MDF laminate flooring Quartile
4th
Source: Quartile
Beck Study
32
Building Products EBITDA Trends
2,127
1,460
2006 2007 2008

Building Products EBITDA Trends
2,127
1,460
2006 2007 2008
TIN EBITDA Housing Starts
33
Fundamental Drivers of Housing Demand
2000 – 2030
Population Growth + 80 million
New Jobs + 45 million
New Households + 20 million North

Carolina
California Georgia
Arizona Florida
Texas
Temple-Inland Facility
Over the longer term, the outlook for housing markets is favorable. The RISI
forecast calls for an average production level of 2 million units in 2011 – 2023.
U.S. Census Bureau and Joint Center for Housing Studies at Harvard
Fundamental Drivers of Housing Demand
2000 – 2030
Population Growth + 80 million
New Jobs + 45 million
New Households + 20 million North

Carolina
California Georgia
Arizona Florida
Texas
Temple-Inland Facility
Over the longer term, the outlook for housing markets is favorable. The RISI
forecast calls for an average production level of 2 million units in 2011 – 2023.
U.S. Census Bureau and Joint Center for Housing Studies at Harvard
34
Building Products - Summary
Low cost
Location near large and growing markets
Positive long-term demand driven by

demographics
Historically strong ROI and significant cash
flow
Building Products - Summary
Low cost
Location near large and growing markets
Positive long-term demand driven by

demographics
Historically strong ROI and significant cash
flow
35
Comparative S, G & A Expenses

($ In Millions)
Temple-Inland 2006 2007 9 mos./2008

S, G & A 321 309 198
Total Cost * 3,797 3,699 2,858
S, G & A/Total Cost 8.4% 8.4% 6.9%
Wtd. Avg. SG&A /Total 10.3% 10.1% 9.5%

Cost of Peers**
TIN Rank 1 1 1
* Total cost = S, G & A + Cost of sales

**Peers include: International Paper, MeadWestvaco, Packaging Corp., Rock Tenn and Smurfit-Stone
Comparative S, G & A Expenses

($ In Millions)
Temple-Inland 2006 2007 9 mos./2008

S, G & A 321 309 198
Total Cost * 3,797 3,699 2,858
S, G & A/Total Cost 8.4% 8.4% 6.9%
Wtd. Avg. SG&A /Total 10.3% 10.1% 9.5%

Cost of Peers**
TIN Rank 1 1 1
* Total cost = S, G & A + Cost of sales

**Peers include: International Paper, MeadWestvaco, Packaging Corp., Rock Tenn and Smurfit-Stone
36
Year– End, 2008 Debt Structure

($ In millions)
Total Debt
$1,192
Borrowings Under Term Debt

Committed Credit
$841
Facilities
$351
Year– End, 2008 Debt Structure

($ In millions)
Total Debt
$1,192
Borrowings Under Term Debt

Committed Credit
$841
Facilities
$351
37
Term Debt Maturity Profile as of Year–End, 2008

($ in millions)
Existing term debt

Term Debt Maturity Profile as of Year–End, 2008

($ in millions)
Existing term debt
38
Year-End, 2008 Committed Credit Facilities

($ In Millions)
Accounts
Receivable Committed
Securitization Credit
Facility Agreements Total
Committed $ 250 $ 835 $1,085
Less:
Borrowings (190) (161) (351)
Letters of credit - (19) (19)
Unused borrowing capacity $ 60 $ 655 $ 715
Facility maturities: 2010 2010 (25 mil)

2011 (810 mil)
Covenants (as specifically defined): Y-E, 2008

Debt/total capital 59.2% 70% Max
Interest coverage* 4.5x 3.0x Min
Year-End, 2008 Committed Credit Facilities

($ In Millions)
Accounts
Receivable Committed
Securitization Credit
Facility Agreements Total
Committed $ 250 $ 835 $1,085
Less:
Borrowings (190) (161) (351)
Letters of credit - (19) (19)
Unused borrowing capacity $ 60 $ 655 $ 715
Facility maturities: 2010 2010 (25 mil)

2011 (810 mil)
Covenants (as specifically defined): Y-E, 2008

Debt/total capital 59.2% 70% Max
Interest coverage* 4.5x 3.0x Min
* Best 4 out of last 5 quarters. 4Q/2008 = 4.6x
39
Estimated PPA Funded Status

No Required Cash Contribution in 2009
($ In Millions)
$1,250 $1,236
$(28)MM
$1,239
$1,208
$(302)MM
Estimated PPA TIN Assets Typical Plan Assets

Accumulated Benefit (ABO) $906
Pension expense $41MM in 2009 vs. $37MM in 2008

Estimated PPA Funded Status

No Required Cash Contribution in 2009
($ In Millions)
$1,250 $1,236
$(28)MM
$1,239
$1,208
$(302)MM
Estimated PPA TIN Assets Typical Plan Assets

Accumulated Benefit (ABO) $906
Pension expense $41MM in 2009 vs. $37MM in 2008
40
2009 Financial Priorities
Return cash to shareholders

Dividend
Reduce debt
Invest in our business
2009 cap ex 59% of depreciation
Grow
2009 Financial Priorities
Return cash to shareholders

Dividend
Reduce debt
Invest in our business
2009 cap ex 59% of depreciation
Grow
41
Maximize ROI

Maximize ROI
42

February 2009
43

TEMPLE INLAND INC 8-K (Events or Changes Between Quarterly Reports) 2009-02-23

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TEMPLE INLAND INC 8-K (Events or Changes Between Quarterly Reports) 2009-02-23

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Processed and formatted by SEC Watch - Visit SECWatch.

Date of Report: February 23, 2009

Delaware 001-08634 75-1903917

1300 MoPac Expressway South, 3rd Floor

Item 9.01. Financial Statements and Exhibits.

99.1 Investor presentation materials.

Date: February 23, 2009 By: /s/ Randall D. Levy

Our job is to be the best

Exhibit Description Page

99.1 Investor presentation materials 4

Our job is to be the best

Forward Looking Statements

This presentation contains “forward-looking statements” within the meaning of

Forward Looking Statements

This presentation contains “forward-looking statements” within the meaning of

Create Superior and Sustainable Value

Profitably grow our business

Create Superior and Sustainable Value

Profitably grow our business

Maximize ROI 4.5% ROI

Building Products (7.1)% ROI

Maximize ROI 4.5% ROI

Building Products (7.1)% ROI

2008 Actions to Maximize ROI

Improved asset utilization

2008 Actions to Maximize ROI

Improved asset utilization

2008 Actions to Profitably Grow Our

2008 Actions to Profitably Grow Our

Business Description Financial Highlights

Corrugated Packaging ($ in M illions) 2004 2005 2006 2007 2008

20% EBIT $134 $133 $331 $161 $111

80% ROI 5.7% 5.5% 12.6% 6.3% 4.5%

Business Description Financial Highlights

Corrugated Packaging ($ in M illions) 2004 2005 2006 2007 2008

20% EBIT $134 $133 $331 $161 $111

80% ROI 5.7% 5.5% 12.6% 6.3% 4.5%

Notes: Excludes 2004-2007 timber and timberland segment results.

Corrugated Packaging Segment Highlights

Business Highlights Financial Highlights

- 3.9 million tons

ROI 0.8% 4.7% 5.6% 12.5% 14.3% 11.3%

EBITDA $185 $255 $280 $408 $429 $371

Corrugated Packaging Segment Highlights

Business Highlights Financial Highlights

- 3.9 million tons

ROI 0.8% 4.7% 5.6% 12.5% 14.3% 11.3%

EBITDA $185 $255 $280 $408 $429 $371

Corrugated Packaging Strategic Initiatives

Maintain high integration level

Lowering Costs, Improving Efficiencies and Growing Profitable Market Share

Corrugated Packaging Strategic Initiatives

Maintain high integration level

Lowering Costs, Improving Efficiencies and Growing Profitable Market Share

Integration Level – Highest in the Industry

Temple-Inland is the most integrated producer of corrugated containers

Integration Level – Highest in the Industry

Temple-Inland is the most integrated producer of corrugated containers

Lower Converting Costs and Higher

Lowering Converting Costs Improving Box Plant Productivity

Cost per ton Boxes per hour

Produced 203,000 tons more boxes despite closure of 12

Lower Converting Costs and Higher

Lowering Converting Costs Improving Box Plant Productivity