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Pope & Talbot Pulp Sales Europe Announces Bankruptcy Filing in Belgium
Portland, Oregon, USA, 21 November 2007 -- /PRNewswire/ -- Pope & Talbot, Inc. announced today that its subsidiary, Pope & Talbot Pulp Sales Europe, LLC, filed an application for relief under Belgian bankruptcy laws in the commercial court in Brussels. If the Belgian court grants the company's application, it is expected that the Pope & Talbot Pulp Sales Europe, LLC will be liquidated through the bankruptcy proceeding.

As previously announced, Pope & Talbot and certain of its subsidiaries obtained protection from their creditors under the companies' Creditors Arrangement Act (CCAA) of Canada on 29 October 2007, and filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code on 19 November 2007. The company will use the protections of Chapter 11 and the CCAA to provide additional time for it to continue its restructuring efforts, which include, but are not limited to, the sale of certain or all of the company's assets.

"We want to assure our customers that Europe remains an integral part of our business," said Harold Stanton, president and CEO of Pope & Talbot, Inc.

Pope & Talbot, Inc. is a pulp and wood products business. The company is based in Portland, Oregon, and trades on the Pink Sheets under the symbol PTBT. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the United States and Canada. Markets for the company's products include the United States, Europe, Canada, South America, and the Pacific Rim. For more information, visit www.poptal.com.

Source: Pope & Talbot, Inc.

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