Canfor Voting Agreement

    VANCOUVER, March 12 /CNW/ - Jim Pattison announced today that Great
Pacific Industries Inc., Great Pacific Capital Corp. and 4123221 Canada Inc.,
all of which are wholly-owned by him (collectively, "Great Pacific"), have
entered into a voting agreement with Third Avenue Management LLC ("Third
Avenue") and Matthews-Cartier Holdings Limited ("Matthews-Cartier"), a holding
company controlled by Canfor Corporation's ("Canfor") founding Bentley and
Prentice families, with respect to the common shares of Canfor owned or
controlled by each of them. Collectively, Great Pacific, Third Avenue and
Matthews-Cartier (collectively, the "Shareholders") currently own or control
74,636,313 Canfor common shares or approximately 52% of the outstanding common
    Under the voting agreement, each of the parties has agreed to vote for a
mutually agreed slate of directors at the forthcoming Annual General and
Special Meeting of Canfor's shareholders and withhold from voting in favour of
any other individual nominated for election as a Canfor director. In addition,
each of the parties has agreed to vote against ratification of the Canfor
shareholder rights plan adopted by the board of directors of Canfor on
December 27, 2006.
    As a result of the voting agreement, the Shareholders may be considered
to be acting jointly or in concert for the purposes of applicable Canadian
securities law. However, none of the Shareholders has or is party to, by
virtue of the voting agreement or otherwise, any agreement, commitment or
understanding, whether formal or informal, with any of the other Shareholders
for the purposes of, directly or indirectly, acquiring or offering to acquire
any Canfor shares. The voting agreement shall expire immediately following the
Canfor shareholder meetings at which such matters are addressed.
    The Canfor shares owned by Great Pacific have been purchased and are
presently being held for investment purposes. In the future, Jim Pattison,
through one or more of his companies, may acquire additional Canfor shares
(subject, during the term of the voting agreement, to certain limitations in
the voting agreement) or dispose of Canfor shares subject to a number of
factors, including general market and economic conditions and other investment
and business opportunities available to him.

For further information:

For further information: (including a copy of the report to be filed
with Canadian securities regulators in connection with this transaction) can
be obtained by contacting: Nick Desmarais, (604) 688-6764

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Great Pacific Capital Corp.

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