Ainsworth Lumber extends 13 7/8% and 12½% note tenders

New York, Feb. 6 - Ainsworth Lumber Co. Ltd. (B3) said that it has extended its previously commenced tender offers for its outstanding 13 7/8% senior secured notes due 2007 and its outstanding 12½% senior secured notes due 2007.

Ainsworth Lumber, a Vancouver, B.C.-based forest products firm, said that the expiration of both offers has been extended to 5 p.m. ET on Feb. 26, from the previous deadline of 5 p.m. ET on Feb. 5.

The company said that it is required by the terms of the respective indentures governing the notes to make offers to purchase those securities if it has a specified amount of excess cash (as defined in the Indentures) at the end of a fiscal quarter.

In accordance with the Indentures, Ainsworth began offers to purchase up to $53.625 million total principal amount of its notes at a purchase price of $1,060 per $1,000 principal amount.

Ainsworth originally sold $225 million of the 12½% notes in July 1997 and $95 million of the 13 7/8% notes in December 2001.

Questions regarding the offer for the 13 7/8% notes should be directed to The Bank of Nova Scotia Trust Co. of New York (212 225-5427). Questions regarding the offer for the 12½% notes should be directed to The Bank of New York (212 815-3738).

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