We present an investigation on the calculation of the band structure of polyparaphenylene using Møller-Plesset Perturbation Theory of 2nd order (MP2) to take into account correlation effects. The basis for these calculations is the Pariser-Parr-Pople (PPP) Hamiltonian because we also want to extract parameters from these calculations for dynamical simulations. Furthermore we want to compare different approaches to the application of MP2 to infinite system. In the ab initio case there are many calculations on this level published which are all based on different Hartree-Fock (HF) program packages and thus use different cutoff schemes for the interactions and different basis sets. Therefore the results of these studies are not directly comparable and a thorough study of different approaches based on one and the same reference is highly desirable. In a forthcoming paper we want to present a similar study on the same system using density functional schemes, especially self interaction corrected ones. The PPP or the Hubbard model are well suited for such a purpose, since the correlation methods on top of HF, which we outline in some detail in the first paper of this series [W. Förner, Physica Scripta 56, 490 (1997)], use exactly the same formalisms as in the corresponding ab initio applications, however, the numerical calculations are much cheaper. Further, especially for an approach using localized orbitals we also want to discuss Coupled Cluster (CC) models, which are infinite order extensions of MP perturbation theory. We use polyparaphenylene as model system because of its importance in diode technology. We find, that for an accuracy of the correlation corrections in the meV region 5 to 6 neighbors are needed, while more than 10 neighbors are required for μeV accuracies. Further we discuss spectra calculated from our correlated band structure.