In This Issue:

• Message from the CEO
• Corporate News
• Operations
• Log Harvesting
• Mill Report
• Forestry News
• Information Systems
• Safety Stats
• Calendar

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Message from the CEO

This morning, the Steelworkers' Union served 72 hour strike notice to Forest Industrial Relations. This event primarily will effect Western Forest Products, the largest coastal harvesting and manufacturing operation. From the Coastal Forest Industries' point of view, if a strike occurs, both the employees and companies will be negatively harmed.

Our harvesting and manufacturing operations will NOT be impacted, as we signed the Interior Agreement at the last set of contract negotiations and have a labour agreement until June 14h, 2009.

The reason we signed a five-year agreement was to protect us from this current state of affairs; it was extremely important that we had the security of a longer term labour agreement in place to negotiate longer term lumber sales contracts with our customers, thus ensuring the stability of bank confidence and continuous employment for our people.

If an official strike is called, it will have an immediate impact on the lumber market and will strengthen our position as a "preferred" lumber supplier.

All core businesses are running extremely well right now. The harvesting operations are on a seven-day a week basis, as well as lumber manufacturing and aviation.

It's great to see C-FMAY back up and operational as this was the first S-61 purchased twenty years ago and was named after my mother.

Work smart and work safe.

Wayne