Vancouver, BC – West Fraser Timber Co. Ltd. today reported a loss of $20 million or $0.47 per share on sales of $647 million in the fourth quarter of 2009 and a loss of $341 million or $7.96 per share, on sales of $2,612 million for 2009.

In the fourth quarter of 2009 the following significant items were included in earnings:

• Asset impairment and restructuring charges of $49 million (after tax $34 million or $0.80 per share);
• A valuation allowance which resulted in a reduction to the tax recovery of $3 million or $0.07 per share; and
• The translation of U.S. dollar-denominated debt which resulted in a foreign exchange gain of $6 million (after tax $5 million or $0.12 per share).

Excluding these items the Company earned $12 million or $0.28 per share in the fourth quarter.

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