Completion of Exchange of Units for Shares of Canfor Pulp Products Inc.

Mar 02, 2012

Vancouver, British Columbia, March 2, 2012 - Further to disclosure requirements of applicable securities laws, Canadian Forest Products Ltd. (the “Purchaser”), located at Suite 100 – 1700 West 75th Avenue, Vancouver, BC V6P 6G2, a wholly owned subsidiary of Canfor Corporation (“Canfor”), acquired on March 2, 2012, 35,776,483 common shares (“Common Shares”) of Canfor Pulp Products Inc. (“CPPI”) in exchange for 35,776,483 Class B Exchangeable LP Units of Canfor Pulp Limited Partnership (the “Partnership”) and 35,776,483 common shares of Canfor Pulp Holding Inc. (“Canfor Holding”) held by the Purchaser, pursuant to the terms of an Exchange Agreement made as of January 1, 2011 among the Purchaser, CPPI, Canfor Holding and the Partnership (the “Transaction”).  

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