<B>L-P Selling California Pulp Mill</B>

Louisiana-Pacific Corp. announced today that it has reached a preliminary agreement with LaPointe Partners, Inc. to sell its Samoa, Calif., pulp mill and chip export facility.

Under the terms of the agreement, LaPointe Partners, a management, consulting and M&A fir, will acquire the complex for approximately $46 million in cash and issue preferred stock to LP totaling approximately $33 million. The terms associated with of the preferred stock were not disclosed. The transaction is expected to close before the end of the year.

``We are very pleased that the Samoa mill and export facility will soon be in the hands of an experienced management team, who is focused on the pulp and paper business. Closure of this sale brings us one step closer to exiting the pulp business, allowing LP to focus exclusively on building products,'' said Mark Suwyn, LP's chairman and CEO.

``We are very excited about the opportunities that the Samoa mill brings to us and look forward to working with the management team at the mill to plot a successful course for the future,'' said Bill New, chairman and CEO of LaPointe Partners.