Release Details

Portland, Ore.-- Louisiana-Pacific Corporation's (NYSE: LPX) Chairman and CEO, Mark A. Suwyn, renewed the company's commitment to continued profitable growth during its annual meeting of stockholders today in Portland, Ore.

"Our commitment to growing the company profitably in 2000 is built on an approach of balancing long-term investments, like growing scale and improving operations, with short-term initiatives, such as repurchasing shares," said Mark Suwyn, Louisiana-Pacific's chairman and CEO. "This strategy is paying off as evidenced by Louisiana-Pacific's financial performance in 1999 as well as in the first quarter of 2000."

Suwyn noted that key to Louisiana-Pacific's strategy is that the company produces to customer demand.

"We operate in a dramatically different environment today than our industry as a whole has been accustomed. Our customers are growing rapidly, both in terms of size and sophistication. They need suppliers who can not only keep up with them, but lead the way to better building solutions," said Suwyn. "It is against this backdrop that we developed our business strategy, which we believe will provide the best long-term return for shareholders."

Suwyn added that "it is the resourcefulness and ingenuity of L-P's workforce that best enables the company to serve the many needs of customers. Our culture has permitted creative problem solvers to excel in meeting the needs of customers better than anyone else."

Suwyn announced the company's decision to move forward with the construction of an oriented strand board facility on the North Shore of Quebec. The company gained timber licenses for the mill through its acquisition of Le Groupe Forex in 1999. The wood allocation for the 625 million square feet capacity mill was previously announced by Forex prior to its acquisition by L-P. Production is scheduled to begin in 2002 with the plant to reach full capacity by 2004. In keeping with L-P's objective to enhance its leadership position in narrow dimension lumber, Suwyn also announced the company's intent to purchase Sawyer Lumber Company, whose assets include a large, modern mill in Northern Michigan.

During the meeting, stockholders re-elected Archie W. Dunham and L-P Chairman and CEO, Mark A. Suwyn, to the company's board of directors. In addition, stockholders approved the 2000 Employee Stock Purchase Plan that allows employees of L-P and those with certain company subsidiaries the opportunity to subscribe for shares of common stock on an installment basis through payroll deductions.

Louisiana-Pacific, now in its 27th year, is a premier supplier of building products, offering a valuable mix of commodity and value added specialty products to our rapidly growing retail, homebuilding and industrial customers. Visit L-P's website at www.lpcorp.com.

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FORWARD LOOKING STATEMENTS

This news release contains statements concerning Louisiana-Pacific Corp.'s 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.