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Ainsworth Lumber Completes Acquisition of Footner Forest Products

Vancouver, British Columbia, Canada, 17 February 2011 – Ainsworth Lumber Co. Ltd. (TSX: ANS and ANS.WT) announced today that it has completed the purchase of the remaining 50% of Footner Forest Products Ltd. and its oriented strand board (OSB) facility in High Level, Alberta, from Grant Forest Products Inc. Ainsworth now owns 100% of Footner. The purchase price of CAD 20 million was paid using cash on hand.

The High Level mill was originally designed to produce 860 million square feet per year (3/8th basis) of OSB. Production at the mill was indefinitely curtailed in December 2007. Ainsworth will keep the Footner mill on a care and maintenance basis until market conditions support restarting production at the mill.


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