West Fraser Timber Co. Ltd. - NAFTA Clarification

Apr 04, 2001, 01:00 ET from West Fraser Timber Co. Ltd.

    VANCOUVER, April 4 /PRNewswire/ - Canadian media reports have erroneously
 indicated that major shareholders of West Fraser Timber Co. Ltd. have made a
 claim under NAFTA against the federal government of Canada.
     In December of 1999 and again in December of 2000 certain procedural
 notices under NAFTA were delivered to Canada by two of West Fraser's principal
 shareholders. The Company understands that the shareholders filed these
 notices in order to preserve existing rights pending the outcome of an
 arbitration involving a competitor of West Fraser. No claim has been filed
 relating to West Fraser. West Fraser believes that the erroneous media report
 resulted from Canada's decision to publish the December 2000 notice despite
 the objection of West Fraser's shareholders.
 
     West Fraser is one of Canada's largest integrated forest products
 companies with manufacturing operations in British Columbia and Alberta
 producing dimension lumber, panelboards, mechanical pulp, linerboard, kraft
 paper and newsprint. The company's Revy Home Centres Inc. owns and operates
 one of the largest chains of retail home improvement stores in Canada.
     West Fraser Common shares trade on The Toronto Stock Exchange under the
 symbol WFT.
 
 

SOURCE West Fraser Timber Co. Ltd.
    VANCOUVER, April 4 /PRNewswire/ - Canadian media reports have erroneously
 indicated that major shareholders of West Fraser Timber Co. Ltd. have made a
 claim under NAFTA against the federal government of Canada.
     In December of 1999 and again in December of 2000 certain procedural
 notices under NAFTA were delivered to Canada by two of West Fraser's principal
 shareholders. The Company understands that the shareholders filed these
 notices in order to preserve existing rights pending the outcome of an
 arbitration involving a competitor of West Fraser. No claim has been filed
 relating to West Fraser. West Fraser believes that the erroneous media report
 resulted from Canada's decision to publish the December 2000 notice despite
 the objection of West Fraser's shareholders.
 
     West Fraser is one of Canada's largest integrated forest products
 companies with manufacturing operations in British Columbia and Alberta
 producing dimension lumber, panelboards, mechanical pulp, linerboard, kraft
 paper and newsprint. The company's Revy Home Centres Inc. owns and operates
 one of the largest chains of retail home improvement stores in Canada.
     West Fraser Common shares trade on The Toronto Stock Exchange under the
 symbol WFT.
 
 SOURCE West Fraser Timber Co. Ltd.