Canfor Corporation

Canfor Corporation

November 30, 2006 17:11 ET

Canfor Corporation Distributes Dividend of Canfor Pulp Income Fund Units to Shareholders

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 30, 2006) - Canfor Corporation (TSX:CFP) announced today that it has completed a distribution to its shareholders of record on November 15, 2006 consisting of an in-kind taxable dividend of 1.49 units ("Fund Units") of Canfor Pulp Income Fund for every 10 shares of Canfor Corporation held, as previously announced October 29, 2006. The value of dividend-in-kind is deemed to be $10.99 per Canfor Pulp Income Fund unit. Following the dividend, Canfor Corporation owns 35,776,483 Class B Exchangeable LP Units, which represent a 50.1% interest in the Canfor Pulp Limited Partnership.

Forward Looking Statements

Canfor Corporation is a leading Canadian integrated forest products company based in Vancouver, British Columbia, with interests in over 33 facilities in British Columbia, Alberta, Quebec, Washington State and North and South Carolina. The Company is the largest producer of softwood lumber in Canada, while also producing oriented strand board (OSB), plywood, remanufactured lumber products and specialized wood products. Canfor owns a 50.1% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood draft pulp in Canada and a leading producer of high-performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange (TSX:CFP).

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