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Management Side
Technical Side
Ainsworth Lumber Co. Ltd.
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Vancouver, British Columbia, Canada, 15 March 2008 – Ainsworth Lumber Co. Ltd. (TSX: ANS) today announced that its exchange offer and consent solicitation relating to its outstanding senior unsecured notes has expired without the conditions to the offer being satisfied.

Robert Allen, chief financial officer of the company, said “Although we are disappointed that the exchange offer was not successful as currently structured, it did provoke constructive dialogue with noteholders and we remain optimistic that we will find a refinancing structure that is mutually satisfactory. In the meantime, the company has a number of other alternatives that it will now pursue as well.”

Allen added “The company and its supportive noteholders remain contractually committed, notwithstanding the expiry of the offer, and we expect that will facilitate getting to a solution.”


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