Ainsworth Lumber Co. Ltd.

Ainsworth Lumber Co. Ltd.

October 19, 2007 15:02 ET

Ainsworth Reaches a Settlement on U.S. Class Action Lawsuit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2007) - Ainsworth (TSX:ANS) has entered into an agreement with the direct purchaser plaintiffs in the OSB Antitrust Litigation, settling on a class-wide basis all claims asserted against it. Under the agreement, Ainsworth will pay US$8.6 million to be distributed across the settlement class. The agreement is subject to court approval.

Ainsworth continues to deny each and every one of plaintiffs' claims and strongly asserts that it has not violated U.S. antitrust or any other laws. The decision to enter into the settlement agreement was based solely on the need to avoid prolonged, expensive litigation.

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