Tricap Partners Ltd. Acquires Shares of Ainsworth Lumber Co. Ltd.

    TORONTO, July 29 /CNW/ - Following the completion today of a
recapitalization transaction effected by Ainsworth Lumber Co. Ltd.
("Ainsworth") under a plan of arrangement, Tricap Partners Ltd. ("Tricap")
announced that it beneficially owns or exercises control or direction over
23,705,597 common shares ("Common Shares") of Ainsworth, representing
approximately 23.7% of the issued and outstanding Common Shares on a fully
diluted basis (excluding warrants not currently exercisable for Common Shares
held by certain shareholders of Ainsworth) as at today's date.
    Tricap holds these Common Shares for investment purposes. Tricap will
continue to review its investment alternatives and may acquire additional
Common Shares or may, subject to market conditions, applicable securities laws
and other relevant factors, sell the Common Shares it now holds in the open
market or in privately negotiated transactions to one or more persons.
    A copy of the early warning report in respect of this acquisition will be
available at

    About Tricap Partners Ltd.

    Tricap Partners Ltd. was established to provide a source of patient,
long-term capital and strategic assistance to mid-market companies based in
North America. With strong industry and financial management expertise, Tricap
is well positioned to assist companies in building value over the long term.

For further information:

For further information: For additional information, or for a copy of
the early warning report, please contact: Alexander D. Greene, Three World
Financial Center, 200 Vesey Street, 11th Floor, New York, NY 10281-1021, Tel:
(212) 417-7202

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