Taiga Building Products Ltd. announces confirmation of note interest deferral



    BURNABY, BC, April 9 /CNW/ - Taiga Building Products Ltd. (TSX: TBL),
("Taiga" or the "Corporation") today announced that, further to its news
release dated March 23, 2009, based on its unaudited March 31, 2009 financial
statements, its debt service coverage ratio has crossed the threshold
specified in the Note Indenture, below which Taiga may defer interest payments
on its Subordinated Notes. As a result, the Corporation confirmed that it has
elected to defer interest payable on the Notes, commencing on April 15, 2009
with respect to interest accruing to March 31, 2009.
    The Subordinated Note interest deferral will result in an approximate
$1.3 million net cash savings per month. Taiga anticipates that it shall
continue to defer interest on the Subordinated Notes, provided it remains able
to do so under the terms of the Note Indenture, for the immediately
foreseeable future. All unpaid interest will accrue to the benefit of
Noteholders and attract a further 14% interest on interest charge.

    Forward-Looking Statements:

    This press release contains certain forward-looking information and
statements relating, but not limited, to future events or performance and
strategies and expectations of Taiga. Forward-looking information typically
contains statements with words such as "consider", "anticipate", "believe",
"expect", "plan", "intend", "likely", "may", "will", "should", "predict",
"potential", "continue" or similar words suggesting future outcomes or
statements regarding expectations, beliefs, plans, objectives, assumptions,
intentions or statements about future events or performance. Readers should be
aware that these statements are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ
materially from those suggested by the forward-looking statements.
    These forward-looking statements reflect management's current
expectations or beliefs and are based on information currently available to
Taiga and although Taiga believes it has a reasonable basis for making the
forward-looking statements included in this document, readers are cautioned
not to place undue reliance on such forward-looking information. By its
nature, the forward-looking information of Taiga involves numerous assumptions
and inherent risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, forecasts and other
forward-looking statements will not occur. These factors include, but are not
limited to, changes in business strategies; the effects of litigation,
competition and pricing pressures; changes in operational costs; changes in
laws and regulations, including tax, environmental, employment, competition,
anti-terrorism and trade laws; and Taiga's anticipation of and success in
managing the risks associated with the foregoing. A further description of
these additional factors can be found in the periodic and other reports filed
by Taiga with Canadian securities commissions and available on Sedar
(http://www.sedar.com). These forward-looking statements speak only as of the
date of this press release. Taiga does not undertake, and specifically
disclaims, any obligation to update or revise any forward looking information,
whether as a result of new information, future developments or otherwise,
except as required by applicable law.

    %SEDAR: 00022285E




For further information:

For further information: contact Tom Stefan, Vice President, Finance or
Mark Schneidereit, Manager, Corporate Planning at (604) 438-1471


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