LP Donates OSB to Areas with Damage Caused by Hurricane Isabel

PORTLAND, Ore.--(BUSINESS WIRE)--Sept. 19, 2003--

LP holds prices for its OSB panels at those posted on September 12, 2003, refusing to benefit from hurricane damage

“Many lives have been impacted by Hurricane Isabel. It's our hope that this donation of OSB will help the rebuilding effort once the threat passes and people attempt to recover from the hurricane's effects”

Louisiana-Pacific Corporation (LP) (NYSE:LPX) announced today it will donate one million square feet of oriented strand board (OSB) structural panels to the North Carolina coastal region damaged by Hurricane Isabel.

Additionally, LP will follow its policy of not raising prices for products during a natural disaster. LP has announced it will not raise its price for OSB panels above prices posted on September 12, 2003, the week prior to the hurricane, despite increasing pricing reflecting additional demand in the wake of Hurricane Isabel. LP will continue to monitor the situation weekly.

"Many lives have been impacted by Hurricane Isabel. It's our hope that this donation of OSB will help the rebuilding effort once the threat passes and people attempt to recover from the hurricane's effects," said Mark Suwyn, LP Chairman and Chief Executive Officer.

LP is a premier supplier of building materials, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers. Visit LP's web site at www.lpcorp.com for additional information on the company.

This news release contains statements concerning Louisiana-Pacific Corporation's (LP) future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, including the level of interest rates and housing starts, market demand for the company's products, and prices for structural products; the effect of forestry, land use, environmental and other governmental regulations; the ability to obtain regulatory approvals, and the risk of losses from fires, floods and other natural disasters. These and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the company's Securities and Exchange Commission filings.