Canfor Corp. Distributes Dividend

Vancouver, British Columbia, Canada, 30 November 2006 -- Canfor Corporation (TSX: CFP) announced today that it has completed a distribution to its shareholders of record on 15 November 2006, consisting of an in-kind taxable dividend of 1.49 units (Fund Units) of Canfor Pulp Income Fund for every 10 shares of Canfor Corporation held, as previously announced 29 October 2006. The value of dividend-in-kind is deemed to be CAD 10.99 per Canfor Pulp Income Fund unit. Following the dividend, Canfor Corporation owns 35,776,483 Class B Exchangeable LP Units, which represent a 50.1% interest in the Canfor Pulp Limited Partnership.

Canfor Corporation is a leading Canadian integrated forest products company based in Vancouver, British Columbia, with interests in over 33 facilities in British Columbia, Alberta, and Quebec, Canada, and in Washington, North Carolina, and South Carolina, in the United States. The company is the largest producer of softwood lumber in Canada, while also producing oriented strand board (OSB), plywood, remanufactured lumber products, and specialized wood products. Canfor owns a 50.1% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood draft pulp in Canada and a leading producer of high-performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange (TSX: CFP).