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DewDiligence

02/02/11 4:08 PM

#2016 RE: DewDiligence #1925

Global Demographic Tailwind factoids from PCL’s 4Q10 conference call:

1. About 20% of timber produced in British Columbia and 5% of all timber produced in North America is being exported to China as lumber or pulp. This is up from a negligible amount of North American timber exports to China as recently as 2009.

2. US lumber exports to all countries are expected to increase 50% (!) in 2011 vs 2010.