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Western Forest Products Considers High-Value Land Sale
Duncan, British Columbia, Canada, 24 October 2007 -– Western Forest Products Inc. (TSX: WEF) has been made aware of reports in the media that it has sold approximately 2550 hectares of higher and better use private lands on southern Vancouver Island, near Jordan River.

The company confirms that it has entered into an agreement to sell these lands, but that the agreement is highly conditional and subject to due diligence. Accordingly, there can be no certainty that the agreement will be completed. Until the conditions in the agreement have been lifted the company will make no further comment on this matter.

Western had previously disclosed that it intends to sell its non-core assets, including these southern Vancouver Island lands. Western had also disclosed that it believes the sale of all of the non-core assets could generate an estimated CAD 150 to CAD 180 million in net proceeds.

Western Forest Products

Western is an integrated Canadian forest products company and the largest coastal British Columbia woodland operator and lumber producer. It has an annual available harvest of approximately 7.5 million cubic meters of timber of which 7.3 million cubic meters is from Crown lands and 0.2 million cubic meters from private timberlands and lumber capacity in excess of 1.5 billion board feet from eight sawmills and four remanufacturing plants. Principal activities conducted by the company and its subsidiaries include timber harvesting, reforestation, sawmilling logs into lumber and wood chips, and value-added remanufacturing. Substantially all of Western’s operations, employees, and corporate facilities are located in the coastal region of British Columbia while its products are sold in over 20 countries worldwide.


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