Canfor Pulp Income Fund
TSX : CFX.UN

Canfor Pulp Income Fund

November 20, 2006 17:19 ET

Canfor Pulp Income Fund Announces Monthly and Supplemental Distributions

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 20, 2006) - Canfor Pulp Income Fund (the "Fund")(TSX:CFX.UN) announced today that it will make a monthly cash distribution of $0.12 per Fund unit, covering the period from November 1, 2006 to November 30, 2006, to be paid on December 15, 2006 to unitholders of record at the close of business on November 30, 2006. In addition to the monthly distribution the Fund also declared an increased supplemental cash distribution of $0.12 per Fund unit also payable on December 15, 2006 to unitholders of record at the close of business on November 30, 2006, resulting in a total November distribution of $0.24 per Fund unit. In addition to a monthly distribution, another supplemental distribution is anticipated in December.

About Canfor Pulp Income Fund

The Fund is an unincorporated, open-ended trust established under the laws of the Province of Ontario, created to indirectly acquire and hold an interest in the Canfor Pulp Limited Partnership (the "Partnership"). Currently the Fund indirectly holds a 20% interest in the Partnership with Canadian Forest Products Ltd. (a subsidiary of Canfor Corporation) holding the remaining 80% interest.

On October 29, 2006 Canfor Corporation announced that it will distribute, by way of taxable dividend, on November 30, 2006, to shareholders of record on November 15, 2006, 1.49 Fund units for every 10 Canfor Corporation shares held. Following the dividend, Canfor will own 50.1% and the Fund will own 49.9% of the Partnership respectively. The Fund understands that Canfor Corporation intends to distribute those Fund units immediately prior to the close of business on November 30, 2006, so that recipients of the Fund units will be entitled to receive from the Fund the November distribution of $0.24 per Fund unit.

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

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, its prospects and uncertainties relating to the Fund 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 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 assumes no obligation to update such information to reflect later events or developments, except as required by law.


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