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REGISTRATION STATEMENTS DECLARED EFFECTIVE FOR PACIFIC LUMBER CO. AND SUBSIDIARY

 HOUSTON, March 12 /PRNewswire/ -- The Pacific Lumber Co. and its subsidiary, Scotia Pacific Holding Co., announced today that the registration statements relating to their respective note offerings have been declared effective by the Securities and Exchange Commission.
 The Pacific Lumber Co. registration statement relates to that company's new issue of $235 million principal amount of 10-1/2 percent Senior Notes Due 2003. The Senior Notes are priced at par.
 The Scotia Pacific Holding Co. registration statement relates to that company's $385 million principal amount of 7.95 percent Timber Collateralized Notes. The Timber Collateralized Notes are priced at par.
 Proceeds of the two offerings will be used primarily to refinance approximately $510 million principal amount of Pacific Lumber's public indebtedness.
 Salomon Brothers Inc. and Donaldson, Lufkin & Jenrette Securities Corp. are the underwriters for the two offerings.
 The Pacific Lumber Co. is a major producer of redwood and Douglas fir lumber. It is an indirect, wholly owned subsidiary of MAXXAM Inc. (AMEX: MXM).
 -0- 3/12/93
 /CONTACT: Scott Lamb of Pacific Lumber Co. and MAXXAM, 713-267-3826/
 (MXM)


CO: The Pacific Lumber Co.; Scotia Pacific Holding Co.; MAXXAM Inc. ST: Texas IN: PAP SU:

SG -- SF007 -- 5606 03/12/93 15:19 EST
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Publication:PR Newswire
Date:Mar 12, 1993
Words:202
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