Product: unbleached kraft pulp 55% equity joint venture Annual production capacity of 120,000 tonnes JV Partner- China Inner Mongolia Forestry Industry Co. Ltd

Product:: Kraftliner, testliner and medium paper Holds 60% equity interest Existing production capacity 100,000 tpa Will transfer delivery to Vietnam of one paper machine (400,000 tpa) originally ordered for a China base - production commencement expected before end-2009 Has obtained all licenses and approval for expansion Sufficient land bank for increase in production capacity

Products include high value specialty board products (mainly insulating paper and capacitor tissue paper) and wood and bamboo pulp Plan for 50,000 tpa in high value specialty paper and 150,000 tpa in wood & bamboo pulp in 2010 Facilitates local pulp supply to the Chongqing and Taicang bases Website about Leshan Base