Pope & Talbot Announces Extension to Lender Agreement

    PORTLAND, ORE., September 17 /CNW/ - Pope & Talbot, Inc (Pink
Sheets:PTBT) today announced that it has agreed to an extension of its
forbearance agreement with its senior secured lenders. The agreement will
extend the company's access to liquidity provided by the revolving credit
facility for an additional four weeks. The company will use this additional
time to continue to explore options for improving its balance sheet, including
but not limited to, the sale of certain or all of the company's assets.

    Pope & Talbot is a pulp and wood products business. The Company is based
in Portland, Oregon and trades on the Pink Sheets under the symbol PTBT. Pope
& Talbot was founded in 1849 and produces market pulp and softwood lumber at
mills in the US and Canada. Markets for the Company's products include the US,
Europe, Canada, South America and the Pacific Rim. For more information,
please check our website and www.poptal.com.

    Caution Regarding Forward-Looking Statements

    This press announcement and other Company communications may contain
statements relating to future performance of the Company that are
forward-looking statements. These statements relate to the Company's future
plans, objectives, expectations and intentions and may be identified by words
like "believe," "expect," "may," "will," "should," "seek," or "anticipate,"
and similar expressions. The Company cautions readers that any such
forward-looking statements are based on assumptions that the Company believes
are reasonable, but are subject to a wide range of risks including, but not
limited to, risks associated with future financial results and liquidity
including the Company's continued ability to finance its operations in the
normal course, the continuation of the forbearance agreement without the
occurrence of a termination event thereunder or the potential necessity for
additional forbearance agreements, the possibility that the Company may need
to commence bankruptcy proceedings, fluctuation of the borrowing base and
other limitations that may affect the Company's ability to borrow under its
revolving credit facilities or otherwise, the Company's relationship with and
payment terms provided by its trade creditors, additional financing
requirements, the results of renegotiating certain key commercial agreements,
the effect of commodity and raw material prices, , foreign currency
fluctuations, the effect of U.S. housing market conditions and other
uncertainties previously detailed in the Company's filings with the SEC. Due
to these uncertainties, there is an inherent risk that actual results will
differ materially from any forward-looking statements. The Company is under no
obligation to (and expressly disclaims any such obligation to) update or alter
any forward-looking statements whether as a result of new information, future
events or otherwise.

For further information:

For further information: For Pope & Talbot, Inc Mark Rossolo,

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