CROWN PACIFIC ANNOUNCES PRESIDENT AND CHIEF EXECUTIVE OFFICER'S INTENTION TO PURCHASE UNITS.PORTLAND, Ore.--(BUSINESS WIRE)--Sept. 1, 1998--Crown Pacific Partners, L.P. (NYSE NYSE See: New York Stock Exchange :CRO) today announced that it has been advised by Peter W. Stott, its President and Chief Executive Officer, that he intends to purchase at least an additional $1 million of the company's common units in the open market. Since Mr. Stott's announcement of his intention to acquire additional units in June of this year he has purchased 68,600 units. Mr. Stott currently owns approximately 1.66 million general, subordinated and common limited partnership units that represent 6.0% of Crown Pacific Partners Crown Pacific Partners, L.P. was a publicly traded partnership founded in 1988 which at its peak owned about 800,000 acres (3,000 km²) of timberland, half in Oregon and the rest in Washington, Idaho, and Montana. , L.P. Mr. Stott explained his rationale for increasing his investment in the company at this time. "The substantial drop in the overall stock market, has generated a decline in the price of the company's common units. At the current price the units provide a yield of more than 10.5%. This yield combined with the intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. of the company's underlying assets, I believe make Crown Pacific units a very attractive investment opportunity." The information contained in this release includes certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based on assumptions that in the future may prove not to be accurate. Those statements, and Crown Pacific Partners, L.P.'s business and prospects are subject to a number of risks, including the volatility of timber and lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to prices, factors limiting harvesting of timber including contractual obligations, weather and access limitations, the substantial capital expenditures required to supply its operations, environmental risks, operating risks Operating risk The inherent or fundamental risk of a firm, without regard to financial risk. The risk that is created by operating leverage. Also called business risk. normally associated with the timber industry, competition, government regulation, the value of the U.S. dollar against foreign currencies such as the Japanese yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. , and the ability of the partnership to implement its business strategy. These and other risks are described in the partnership's reports and registration statements that are available from the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. Crown Pacific Partners, L.P. is a leading integrated forest products partnership with extensive timber holdings and conversion facilities located in Oregon, Washington, Idaho and Montana. Additional information and news releases may be obtained from Crown Pacific's Internet page at www.crownpacificpartners.com or by calling the partnership directly at 888-NYSE CRO (697-3276).
CONTACTS: Financial Inquiries:
Crown Pacific
Mark B. Conan, 503/274-2300
OR
Media Inquiries:
Crown Pacific
Bob Hess, 503/274-2300
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