Asia Pacific: Board of Investment Promotion Certificate Issued, Appointment of New Directors, Results of Udon Drilling Program.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 13, 2000

Asia Pacific Resources Ltd. (Nasdaq:APQCF) (TSE:APQ.) (Stuttgart S.E.:APQ.) (Frankfurt:APQ.)

Board of Investment (BOI)

In 1999, Asia Pacific Potash Corp. Ltd. (APPC) was informed that the proposed Somboon potash project, in Udon Thani province, had received approval as a "promoted project" under the Thai Investment Promotion Act, qualifying the project for a range of taxation and other incentives and benefits.

Under the Investment Promotion Act, the "promoted person" (APPC) is required to increase its registered and paid up capital prior to the issuance of a Promotion Certificate. In the case of the Somboon project, this requirement would be 5.3 billion Baht (approximately US$130 million), representing approximately 25% of the estimated project investment.

Following a request from APPC, the Board of Investment (BOI) agreed to amend this condition and now requires the increase in registered and paid up capital to be completed by the commencement of operations, which must occur within sixty-six (66) months from the date of the issue of the Certificate to comply with the condition.

Asia Pacific is pleased to report that it has received the Promotion Certificate (dated November 22, 2000) certifying that APPC is "promoted for investment in the business of production of muriate of potash and industrial grade salt, mining and dressing of ores, production of basic industrial chemicals and manufacture of fertilizers" with a series of promotional rights and incentives.

These include:

- An exemption of corporate income tax on net profits derived from
the promoted activities for a period of eight (8) years from the date
income is first derived from such activities.

- A reduction of fifty percent (50%) of the normal rate of
corporate income tax on net profits for a period of five (5) years
from the expiry of the tax exemption specified above.

- Issuance of work permits and residence visas for foreign
"skilled workers or experts".

- The right to own land for the purposes of the promoted project.

- Import duty exemptions for machinery, etc., used for the project.

- Import duty exemptions on raw materials used for the manufacture
of products to be exported, and a 75% reduction for domestic products.

- Income tax deduction of 25% of investments for the installation
and construction of facilities, in addition to normal depreciation
allowances.

- Income tax deductions of two times actual transportation,
electricity and water expenses for a period of ten years from the date
income is first derived.

- Income tax deduction of five percent (5%) of the increment in
export income over the preceding year is granted for a period of ten
years.

- Permission to take or remit money in foreign currencies out of
the Kingdom of Thailand.

The financial implications of these benefits further enhance the robust economics of the Somboon project.

Appointment of New Directors

Asia Pacific Resources Ltd. (APR) is pleased to announce the appointment of two directors to the company's Board of Directors:

Mr. Peter Ackermann has been a practicing attorney in Berlin for over 30 years. He specializes in international commercial causes and arbitration proceedings and he also acts as a financial advisor. In connection with his wide-ranging investment interests, he currently holds directorships in a number of private and public companies. Mr. Ackermann is a significant shareholder in Asia Pacific Resources Ltd. and has subscribed to a private placement financing in the company.

Mr. Donald Hague is a Professional Engineer with a Master's Degree in Business Leadership, and currently holds the position of Vice President, Engineering for Asia Pacific Resources Ltd. He has more than 15 years experience in the development, construction and operation of large capital projects in the mining and power industries. He has worked for Asia Pacific since 1994, playing a leading role in the development of the company's projects, both in Canada and Thailand.

Also, APPC has also appointed two additional directors:

Mr. Songkram Thamagasorn joined Asia Pacific Potash Corporation in 1998 and currently serves as General Manager (Thailand) and Vice-President of that company. He has a Master's Degree in Economics, and served more than 30 years in the Ministry of Industry of Thailand. His career as an economist attached to the Industrial Economics and Planning Department extended into the fields of foreign affairs and diplomacy. He has served as Industrial Minister Counselor attached to the Royal Thai Embassies in Vienna and London. He also represented Thailand in the delegations to various levels of the United Nations forum.

Mr. Peter Wong is a Canadian Chartered Accountant and holds a Batchelor of Commerce degree from the University of British Columbia. He currently holds the positions of Company Secretary and Financial Controller for Asia Pacific Resources Ltd. He has been with the company since 1992 and has played an integral role in the development of the potash project from its inception. Previously, Mr. Wong was with an international accounting firm in Canada.

These appointments will add to the experience and ability of the existing Boards, to the benefit of the shareholders of each company.

Udon Deposit Drilling Program Results

Earlier this year a seven hole diamond-drilling program was completed to investigate possible extensions to the previously identified Udon potash deposit, just north of the Somboon deposit, and to provide further information on the structure and geology of that deposit.

Assay results have now been received and analysed. Four of the strategically placed boreholes intersected mineable thicknesses and grades of sylvinite. Two of these (boreholes #00-166 and #00-168), drilled on the eastern extremity of the deposit, indicated continuity of the deposit to the east and suggest the potential for proving additional reserves in the area. Hole #00-168 intersected over 7m of high-grade sylvinite.

The four sylvinite-intersecting boreholes provided the following data

Hole #            Depth (m)     Thickness (m)   Average grade (%K2O)

APPC 00-165    158.0 - 160.8        2.8                18.70
APPC 00-166    153.6 - 156.3        2.7                22.11
APPC 00-168    252.2 - 259.3        7.1                25.76
APPC 00-169    333.4 - 334.9        1.5                15.10

The other three boreholes were strategically located along the flanks of moderate anticlinal salt structures. Geological information obtained from downhole geophysical logs and cores from this program and the re-modeling of 2D-seismic data has enhanced the understanding of the stratigraphic and structural continuity of the Udon deposit.

The Udon deposit has now been delineated by 111 exploration boreholes and 268 line-kms of 2D- seismic. The deposit is estimated to contain a geological resource of approximately one thousand million tonnes (1,000 million) at an average grade similar to the estimated mining grade for the Somboon project (approximately 24% K2O). The deposit is shallower than the Somboon deposit, having an estimated average depth of approximately 230 metres. Following financial closing for the proposed Somboon project, APPC proposes to commission a feasibility study for a mine of similar scale within the Udon deposit. Current industry supply / demand estimates suggest, to Asia Pacific, that the development of a second mine could be warranted within four to five years following commissioning of the Somboon mine.

Gerald D. Wright, Chief Executive Officer