Release Details

PORTLAND, Ore., Aug 17, 2001 (BUSINESS WIRE) --

Company Action Brought On by US Preliminary Decision to Impose 19.3 Percent Countervailing Duty On Canadian Softwood Lumber

Louisiana-Pacific Corp. (NYSE: LPX) announced today that due to the U.S. Department of Commerce's preliminary decision to impose a 19.3 percent countervailing duty on Canadian softwood lumber, the company will suspend production at its cedar sawmill in Malakwa, British Columbia, for a minimum of two weeks.

The Malakwa cedar sawmill produces approximately 50 million board feet per year and is one of LP's two Canadian softwood lumber facilities. The decision to curtail operations affects more than 120 employees.

"The U.S. government's preliminary decision to impose a 19.3 percent countervailing duty on Canadian softwood lumber, which extends into appearance-grade cedar products, makes it necessary for us to suspend production at our Malakwa cedar sawmill facility. We simply cannot absorb the increased cost of this duty," said Patrick Bonkemeyer, LP general operations manager for engineered wood products.

LP owns and operates a total of 17 lumber facilities, the majority of which are located in the United States.

LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its rapidly growing retail, wholesale, homebuilding and industrial customers. Visit LP's website at: www.lpcorp.com.

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.

CONTACT:          Louisiana-Pacific Corp.
                  Ward Hubbell, 503/821-5208 (US Media Relations)
                  or
                  Len Pettman, 250/344-8128 (Canada Media Relations)
                  or
                  Bill Hebert, 503/821-5311 (Investor Relations)