Catalyst Notes Status of Shareholder Rights Plan
Vancouver, British Columbia, Canada, 26 August 2006 – Catalyst Paper Corporation today announced that the Toronto Stock Exchange (TSX) has determined to defer its consideration of acceptance for filing of Catalyst's recently adopted shareholder rights plan until such time as the TSX is satisfied that the Ontario Securities Commission will not intervene pursuant to National Policy 62-202 of the Canadian Securities Administrators in any take-over bid for Catalyst. A condition of acceptance of notice of the rights plan by the TSX would be that the requisite shareholder approval be obtained
The rights plan remains effective in accordance with its terms.
Catalyst is a leading producer of mechanical printing papers in North America. The company also produces market kraft pulp and owns Western Canada's largest paper recycling facility. With five mills employing 3800 people at sites within a 160-kilometer radius on the south coast of British Columbia, Catalyst has a combined annual capacity of 2.4 million metric tons of product. Catalyst Paper Corporation common shares trade on the Toronto Stock Exchange under the symbol CTL. The company is headquartered in Vancouver, British Columbia.