October 7, 1999

News Release:

Timber Supply and Product Demand Service

Resource Economics is pleased to announce our new Timber Supply and Product Demand Service, a supply and demand forecasting service for the North American wood products sector. During the last six years, we have constructed a model of forest products demand and integrated it with our timber supply models. Utilizing our unique industry experience, the new system incorporates the supply of timber resources and resulting prices with the derived product demand and prices for wood products. The final result is a North American supply and demand equilibrium for the major forest products outputs. Our projections include all pertinent production, consumption, product and resource prices, and breakeven calculations not previously available in a single publication.

Our integrated models represent a new and vastly improved system over those used in our past multi-client studies listed below.

Pacific Rim Wood Supply and Demand: A Global Perspective: Joint Study with D. A. Neilson and Associates 1993.

Southern Timber Study, An Assessment of the Demand, Supply, and Prices for Southern Timber Through 2010 - Volumes I and II: Joint Study with Resource Information Systems Inc. 1993.

Supply, Demand and Prices of Pacific Northwest Timber - Volumes I and II: Joint Study with Resource Information Systems Inc. 1987.

The Timber Situation in 12 Southern States - Volumes I and II: Joint Study with Resource Information Systems Inc. 1985-1986.

The related information outlines our services, timetable for deliveries, products delivered, and package price. We are fully confident that you will find the use of our service invaluable in your corporate planning, operations, and financial strategy development.

Resource Economics, LLC