Canfor Pulp Income Fund
TSX : CFX.UN

Canfor Pulp Income Fund

July 24, 2009 16:19 ET

Canfor Pulp CEO set to retire at next AGM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 24, 2009) - Canfor Pulp Income Fund (the "Fund") (TSX:CFX.UN) announced today that Paul Richards, President and CEO of Canfor Pulp Limited Partnership (CPLP) has decided to retire at the Fund's next annual general meeting of unitholders, currently scheduled for April 27, 2010.

Charles Jago, Chairman of CPLP said, "Paul has decided that after more than 38 years in the business he will retire to spend more time with his family. We are pleased that Paul will continue to lead CPLP up to the annual general meeting and the entire Board is appreciative of Paul's continued contribution, guidance and leadership through these difficult economic times."

A Search Committee of the Board has been constituted to commence the process of searching for Mr. Richards' replacement as President and CEO of CPLP. While an external review will be undertaken, there is considerable talent and potential internal candidates within Canfor Corporation and CPLP.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could" and variations of such words and similar expressions are intended to identify such forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by the Fund with the securities regulatory authorities in all of the provinces and territories of Canada to which recipients of this press release are referred to for additional information concerning the Fund and Partnership, its prospects and uncertainties relating to the Fund and Partnership and its prospects. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Fund and Partnership to be materially different from those contained in forward-looking statements. The forward looking statements are based on current information and expectations and the Fund and Partnership assume no obligation to update such information to reflect later events or developments, except as required by law.

About Canfor Pulp Income Fund

The Fund is an unincorporated, open-ended trust established under the laws of Ontario, created to indirectly acquire and hold an interest in the Canfor Pulp Limited Partnership (the "Partnership"). The Fund indirectly holds a 49.8% interest in the Partnership with Canadian Forest Products Ltd. (a subsidiary of Canfor Corporation) holding the remaining 50.2% interest.

For more information about Canfor Pulp Income Fund and the Partnership, please visit www.canforpulp.com.

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