Ainsworth Lumber Co. Ltd.
TSX : ANS

Ainsworth Lumber Co. Ltd.

October 20, 2005 17:00 ET

Ainsworth Lumber Announces Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - Ainsworth Lumber Co. Ltd. (TSX:ANS) announces its intention to make a normal course issuer bid, whereby it may purchase up to 732,457 common shares of the Company, representing approximately 5% of the Company's 14,649,140 current issued and outstanding common shares. The normal course issuer bid will commence on October 24, 2005 and end on October 23, 2006 or on such earlier date that the Company completes its purchases. All purchases will be effected through the facilities of the Toronto Stock Exchange and the price that the Company will pay for any shares acquired by it will be the market price of the shares at the time of acquisition. The consideration to be offered will be cash, payable from the Company's current unallocated working capital, in accordance with the requirements of the TSX. There will be no restrictions on the price the Company is prepared to pay per share other than that purchases will not be made if the Company does not believe that the purchases would be advantageous to the Company and its shareholders. All shares purchased by the Company will be cancelled.

The Board of Directors of the Company is of the view that, from time to time, the Common Shares may trade at a discount to the underlying assets of the Company. The Board of Directors believes that the purchase by the Company of its own shares pursuant to a normal course issuer bid is a worthwhile investment which is beneficial to all non-selling shareholders of the Company and which will not preclude the Company from pursuing other business opportunities.

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