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LOUISIANA-PACIFIC COMPLETES BEST QUARTER EVER

 PORTLAND, Ore., April 20 /PRNewswire/ -- Louisiana-Pacific Corp. (L-P) (NYSE: LPX) today reported the best quarterly sales and earnings in its 20-year history.
 The company earned a record $87.7 million in the first quarter, a 144-percent increase over the $36.0 million earned in the first quarter of 1992. Sales jumped to a record $649.2 million, up 37 percent from sales of $475.5 million in the first quarter of 1992. On a per-share basis, the company earned a record $1.60 in this year's first quarter compared to 67 cents a year ago. Both per-share figures reflect a three-for-two stock split paid by L-P in June of 1992. The 1993 earnings figures do not include the cumulative effects of adoption by L-P of two new accounting standards.
 "Prices of many building products reached record highs in the quarter as demand improved and supplies remained tight," said Harry A. Merlo, Louisiana-Pacific's chairman and president.
 Merlo said that even running full out, the company was not able to meet demand for many of its products and had to "allocate" supplies among its customers during the quarter.
 "We continue to benefit from a product mix based on innovative, affordable building materials made from plentiful, noncontroversial timber sources. In particular, our Inner-Seal(R) oriented strand board construction panels, siding, engineered I-joists and laminated veneer lumber are setting sales records," Merlo said.
 "Although prices have backed off from the levels they reached midway through the first quarter, the underlying supply/demand relationships have not changed," Merlo said. "While stormy weather this winter and early spring curtailed building activity in many parts of the country, we still expect better demand for building products this year and reduced supplies of traditional wood building products. That's why we're continuing to expand our production capacity for Inner-Seal products."
 L-P completed its 16th oriented strand board (OSB) plant during the first quarter; a 17th is due to open in the third quarter. In addition, the company has announced plans to build an OSB manufacturing complex in Venezuela and has signed a letter of intent to build an OSB plant in Ireland.
 Merlo said that L-P's record earnings came despite a $17.1-million loss for the company's pulp segment, which typically accounts for about 10-15 percent of L-P's revenues. Pulp markets remain weak with no clear indication of improvement on the horizon.
 During the first quarter L-P adopted two new accounting standards resulting in a net charge of $10.4 million, or 19 cents per share. This non-cash charge is being recorded as "cumulative effects of accounting changes" and therefore did not impact operating earnings.
 Speaking about the climate for the industry in 1993, Merlo said, "We are encouraged by the attention given to timber issues by the Clinton Administration, particularly their interest in breaking the stranglehold on forest resources currently imposed by endless court battles."
 Louisiana-Pacific is a major building products company known for its innovation in developing high-performance, affordable, environmentally sound construction materials.
 LOUISIANA-PACIFIC CORP.
 (Dollar amounts in millions except per share)
 Quarter Ended March 31 Percent
 1993(A) 1992 Change
 Net sales $ 649.2 $ 475.5 36.5
 Income before taxes 140.3 56.7
 Income 87.7 36.0 143.6
 Income per share 1.60 0.67
 Average shares outstanding 54,650 54,250
 SALES BY QUARTER (In millions)
 1st 2nd 3rd 4th Year
 1992 $475.5 $539.1 $641.4 $528.7 $2,184.7
 1993(A) 649.2
 EARNINGS BY QUARTER (In millions)
 1st 2nd 3rd 4th Year
 1992 $ 36.0 $ 44.1 $ 55.7 $ 41.1 $ 176.9
 1993(A) 87.7
 EARNINGS PER SHARE BY QUARTER
 1st 2nd 3rd 4th Year
 1992 $ 0.67 $ 0.81 $ 1.03 $ 0.75 $ 3.26
 1993(A) 1.60
 (A) Does not include cumulative effects of accounting changes.
 -0- 4/20/93 R
 /CONTACT: Barry Lacter of Louisiana-Pacific, 503-557-7523 (home), or 503-221-0800 (office), or fax, 503-796-0204/
 (LPX)


CO: Louisiana-Pacific Corp. ST: Oregon IN: PAP SU: ERN

LM -- SE011 -- 8003 04/20/93 11:23 EDT
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Date:Apr 20, 1993
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