News Release Details

CHETWYND, British Columbia--(BUSINESS WIRE)--April 24, 2001-- Louisiana-Pacific Canada Pulp Company today announced that it will temporarily curtail production at its bleached-chemi-thermo-mechanical pulp (BCTMP) mill in Chetwynd, British Columbia, for two months beginning April 24, 2001.

The curtailment of the mill, which operates as "Chetwynd Pulp Company," is in response to current conditions in global pulp markets. Weakened demand and rising inventories have resulted in lower pulp prices in recent months. Curtailing production will significantly reduce mill-operating losses.

About 150 mill employees will be affected by the two-month temporary layoff. The company plans, subject to market conditions, to recall employees in late June to conduct the mill's annual maintenance program and resume production in early July. Customer requirements will be met with existing inventories.

"We are very much aware of the impact this market-related shutdown will have on affected employees," said John Eccleston, manager of the Chetwynd mill. "We will manage the curtailment with the aim of minimizing negative effects on our employers, suppliers and neighboring communities, while taking the steps necessary to maximize the mill's future prospects."

Louisiana-Pacific Canada Pulp Co., owned by Louisiana-Pacific Corporation, is managed by Millar Western Forest Products Ltd.. The Chetwnyd mill annually produces 150,000 air-dried metric tonnes of bleached-chemi-thermo-mechanical pulp.

FORWARD LOOKING STATEMENTS

This news release contains statements concerning Louisiana-Pacific Corporation's (LP) future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, including the level of interest rates and housing starts, market demand for the company's products, and prices for structural products; the effect of forestry, land use, environmental and other governmental regulations; the ability to obtain regulatory approvals, and the risk of losses from fires, floods and other natural disasters. These and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the company's Securities and Exchange Commission filings.

http://www.businesswire.com/cnn/lpx.htm

CONTACT:
Louisiana-Pacific Canada LTD.
Anne Parsons, 604/617-5105
Margaret Forbes, 250/784-7296
or
Chetwynd Mill Manager
John Eccleston, 250/788-7857