Pope & Talbot Closes Fort St. James Sawmill Acquisition from Canfor

Business Wire, April 25, 2005

PORTLAND, Ore. -- Pope & Talbot, Inc. (NYSE:POP) announced today that it has completed the acquisition of the Fort St. James sawmill with an annual allowable cut of 640,000 cubic meters from the neighboring timber supply area from Canfor Corporation for Canadian $39 million or approximately US $32 million, plus the value of certain inventory.

The Fort St. James sawmill, located in the Northern Interior of British Columbia, has an annual capacity of 250 million board feet of spruce, pine, fir ("SPF") lumber production. The Fort St. James sawmill was constructed in 1969 with its last major rebuild in 1999.

With the addition of Fort St. James, Pope & Talbot's total lumber production capacity is planned to exceed one billion board feet annually at five mills and will expand the company's capability to meet customer needs with a deeper, more diverse product mix.

"The acquisition of the Fort St. James mill is a great strategic fit for Pope & Talbot," stated Michael Flannery, Chairman and Chief Executive Officer. "The mill's production is complementary to Pope & Talbot's existing lumber mills, its geographic location in the northern interior of British Columbia diversifies the Company's resource base, and the associated timber tenures significantly increases our timber base."

Pope & Talbot is a pulp and wood products business. The Company is based in Portland, Oregon and traded on the New York and Pacific Stock Exchanges under the symbol POP. Pope & Talbot was founded in 1849 and produces market pulp and softwood lumber at mills in the US and Canada. Markets for the Company's products include the US, Europe, Canada, South America and Pacific Rim countries. For more information on Pope & Talbot, please check the website www.poptal.com.