Ainsworth Lumber Co. Ltd.

Ainsworth Lumber Co. Ltd.

March 01, 2005 20:17 ET

Ainsworth Signs Letter of Intent to Purchase New York State-Based OSB Mill Project from Chatham Forest Products Inc.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AINSWORTH LUMBER CO. LTD.

TSX SYMBOL: ANS

MARCH 1, 2005 - 20:17 ET

Ainsworth Signs Letter of Intent to Purchase New York
State-Based OSB Mill Project from Chatham Forest
Products Inc.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2005) - Ainsworth
Lumber Co. Ltd. ("Ainsworth") (TSX:ANS) is pleased to announce that
today it has signed a letter of intent with Chatham Forest Products Inc.
("Chatham"), for the purchase of a proposed oriented strand board
("OSB") mill project based in Lisbon, New York. Execution of a
definitive agreement is conditional upon the successful completion by
Ainsworth of its due diligence review, as well as other conditions
including fiber supply assurance, completion of a site suitability
review and assurances of financing, which are expected to occur during
the second quarter of 2005.

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