LP Schedules Downtime at Seven Oriented Strand Board Mills

PORTLAND, Ore.--(BUSINESS WIRE)--June 23, 2004--Louisiana-Pacific Corporation (LP) (NYSE:LPX) announced today that it will be taking downtime at seven of its oriented strand board (OSB) mills for capital projects and extraordinary maintenance. The 47 days of downtime, ranging in duration at each mill, will occur over the next six weeks and will reduce normal production by more than 50 million square feet (3/8" basis) during the period.

"These capital projects are part of our ongoing effort to modernize our existing mills by installing enhanced technology. We are committed to the scheduled implementation of our previously announced $250 million investment program intended to reduce costs, improve quality and increase capacity," said Harold Stanton, vice president of LP's oriented strand board business. "Additionally, we are faced with some much needed extraordinary maintenance at some of our mills, as we have produced OSB at maximum levels to satisfy unprecedented demand."

“said Harold Stanton, vice president of LP's oriented strand board business.”

The mills involved in the downtime are located in Athens, Georgia; Hayward, Wisconsin; Houlton, Maine; Woodland, Maine; Swan Valley, Manitoba; Sagola, Michigan; and Roxboro, North Carolina.

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.