EXHIBIT 3 - Consent of Independent Accountants
[PriceWaterhouseCoopers letterhead]
CONSENT OF INDEPENDENT ACCOUNTANTS
To Weyerhaeuser Company
We consent to the use of our Auditors' Report dated February 10, 1999
(except for note 20 which is at September 17, 1999)
included in this Form 40F-A filed in the United States.
/s/ PriceWaterhouse Coopers
Chartered Accountants Vancouver, British Columbia
September 17, 1999
EXHIBIT 99.3 - The Consolidated Financial Statements of MacMillan Bloedel
for the six month period ended June 30, 1999 as filed on
Form 6-K on August 11, 1999
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities and Exchange Act of 1934
MacMillan Bloedel Limited
(exact name of registrant)
2nd Floor, 925 West Georgia Street, Vancouver, B.C. V6C 3L2
(address of principal executive offices)
Registrant's telephone number: (604) 661-8302
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F
Form 20-F________ Form 40-F___X___
Indicated by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act or 1934.
Yes______ No___X___
Attached is the Report for the Six Months ended on June 30, 1999
as filed with the Security Commissions in Canada on August 11,
1999.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
MacMillan Bloedel Limited (Registrant)
By "G.E. Mynett"
--------------------
G.E. Mynett
Corporate Secretary
Date: August 11, 1999
MacMillan Bloedel Limited
Q2
Quarterly Report to Shareholders
Six Months Ended
June 30, 1999
- ------------------------------------------
To Our Shareholders & Employees
MacMillan Bloedel Reports
Second Quarter Net Earnings of $73 Million
------------ ------------
Six Three
Months Ended Months Ended
June 30 June 30
unaudited ($ millions except per share amounts) 1999 1998 1999 1998
- ----------------------------------------------------------------------------
Sales 2,220 2,072 1,186 1,082
Earnings (loss) from continuing operations 106 -- 73 (9)
Loss from discontinued operations -- (39) -- (46)
Net earnings (loss) 106 (39) 73 (55)
Earnings (loss) per common share
Earnings (loss) from continuing operations
Basic .86 (.02) .60 (.08)
Fully diluted .82 (.02) .57 (.08)
Net earnings (loss)
Basic .86 (.33) .60 (.45)
Fully diluted .82 (.33) .57 (.45)
Dividends paid per common share .10 .10 .05 .05
Book value per common share at end of period 12.38 11.03 12.38 11.03
Price range of common shares
High 27.20 21.65 27.20 21.65
Low 14.00 13.55 16.10 15.55
- -----------------------------------------------------------------------------
MacMillan Bloedel reported net earnings of $73 million ($.57 per share
fully diluted) for the second quarter 1999, compared with a net loss of
$55 million ($.45 per share) for the same period last year. Second
quarter 1998 results comprised net losses of $9 million ($.08 per
share) from continuing operations and $46 million ($.37 per share) from
discontinued operations, which were subsequently disposed of during
1998.
Operating earnings were $131 million for the quarter, up $87 million
from the second quarter last year. All of the company's business
segments, with the exception of Engineered Lumber, reported significant
increases in operating earnings. Very strong demand for building
materials in the US market drove prices for oriented strandboard (OSB)
to record levels in the quarter. Relative to the second quarter last
year, average containerboard prices were flat. A weaker Canadian dollar
versus the US dollar and Japanese yen had a favourable impact.
Cash provided by operating activities, before changes in non-cash
working capital, was $163 million, compared with $60 million for the
second quarter 1998. The ratio of net debt to net debt plus equity was
21% at the end of the quarter.
For the six months ended June 30, 1999, the company reported net
earnings of $106 million ($.82 per share) compared with a net loss of
$39 million ($.33 per share) for the same period in 1998.
Safety performance
Safety is our number one priority. We continue to improve our safety
performance, with a company-wide medical incident rate for the first
six months of 1999 of 5.4, down from 7.0 for all of 1998. However we
still have some work to do to reach our target of 4.9 for this year.
2 MacMillan Bloedel Limited 1999 Second Quarter Report
- ------------------------------------------
To Our Shareholders & Employees
Operating performance
Operating earnings from Solid Wood were $30 million for the second
quarter 1999 compared with $1 million for the same period a year ago.
We have made significant progress in reducing costs and improving
productivity in our BC logging and sawmill operations. Virtually all of
our earnings improvement has come from cost reductions and increased
sales volumes. We are not getting any help from the marketplace in
terms of pricing for our BC lumber products, which has remained
relatively flat overall. We are continuing to manage our private lands
to extract maximum value.
Harvest volumes in BC were down 11% compared with the second quarter
last year, mainly reflecting reduced logging activity on Crown lands.
Direct logging costs during the quarter were on target at $58 per cubic
metre. Despite unusually high snow levels, it was possible to maintain
an adequate supply of logs to the company's sawmills during the quarter
to avoid significant curtailments.
The BC sawmills ran at a combined operating rate of 82% during the
quarter compared with 87% for the same period a year ago. Island
Phoenix, which started up in late April 1999, has been running on one
shift since then, with the exception of a two week shut during June due
to a shortage of logs. Aggregate sawmill cash conversion costs for the
quarter were 6% over target but down 4% from the average last year.
US demand for building materials continues to be extremely strong.
Housing starts for the first five months of 1999 were up 8% compared
with the same period last year. Japanese demand for lumber remains
steady and inventory levels continue to be relatively low. Housing
starts in Japan were down 2% compared to the first five months of 1998.
Solid Wood's BC produced lumber shipments were 17% higher than the
second quarter last year, withaverage prices up about 3% (in Cdn$).
Whitewood lumber shipments were up 11% versus the same quarter a year
ago and average prices were 14% (in Cdn$) higher. Western red cedar
shipments were up about 50% compared with the second quarter last year,
when log shortages caused downtime in the cedar sawmills. Average cedar
prices were down 10% (in Cdn$) due to a higher portion of merch grades
in the product mix and lower pricing for decking products.
Second quarter operating earnings from MB's 49% investment in Trus
Joist MacMillan (TJM) were $19 million, up $1 million from the same
quarter last year. TJM's sales for the quarter were up 19% (in US$)
from the second quarter 1998, however margins were impacted by higher
prices for raw materials.
Panelboards earnings were $40 million compared with $11 million for the
second quarter 1998, driven primarily by OSB prices, which were up
almost 50% (in US$) on average versus the second quarter a year ago.
OSB sales revenue more than doubled over the second quarter last year
due to higher prices and additional volumes from increased ownership in
Eagle Forest Products and Saskfor MacMillan. On a combined basis, the
OSB mills ran near full capacity during the second quarter of both 1999
and 1998.
Distribution contributed $24 million to operating earnings, an increase
of $14 million over the second quarter 1998, resulting in part from
strong markets, but more significantly from cost savings and a more
focused business strategy which distinguishes between commodity trading
and warehouse operations. Combined sales were up 16% from the same
period last year, with gross margins up 1/2% in commodity trading and
2% in warehouse operations.
Earnings from Packaging were $33 million versus $18 million for the
second quarter last year. Average industry linerboard prices for the
quarter were unchanged (in US$) compared with the same period a year
ago, with price increases of US$50 per ton for linerboard and US$60 per
ton for corrugating medium, announced in March 1999, fully
implemented during the quarter. Much of the increase.
MacMillan Bloedel Limited 1999 Second Quarter Report 3
- ------------------------------------------
To Our Shareholders & Employees
in earnings resulted from lower fibre costs at Pine Hill. On a combined
basis, the containerboard mills operated at full capacity during the
second quarter of 1999 compared with 95% for the same period last year.
Packaging's second quarter 1998 results included earnings of $5 million
from MB's 50% interest in MacMillan Bathurst, which was sold in August
1998.
Recent developments
In June 1999, Weyerhaeuser Company announced that it would acquire
MacMillan Bloedel Limited in a stock transaction valued at
approximately US$2.45 billion (Cdn$3.59 billion) based on the closing
price of Weyerhaeuser common stock and the value of the Canadian dollar
on June 18, 1999. The Boards of both companies have unanimously
approved an agreement that provides MB shareholders with 0.28 shares of
common stock in Weyerhaeuser, or for MB's Canadian shareholders,
equivalent exchangeable shares in a new Weyerhaeuser Canadian
subsidiary, for each MB share owned. This transaction is subject to
normal regulatory approvals in the US and Canada and court approval in
Canada. It also requires a favourable vote by MB common shareholders.
The shareholder vote and closing of the transaction are expected to
take place in the fourth quarter 1999.
In June 1999, MB purchased its partner's 50% interest in Saskfor
MacMillan at a net cash cost of $63 million. The company also announced
it was starting construction of a $180 million OSB mill in Saskatchewan
and had concluded a twenty year Forest Management Agreement with the
government of Saskatchewan to secure a fibre supply. In addition, in
early July, MB acquired the remaining 10% interest of Eagle Forest
Products at a cost of $8 million.
In March 1999, agreement was reached with the BC government to
compensate MB for the negotiated value of harvesting rights lost during
the creation of parks on Vancouver Island in the mid-1990's. During
June, the government held a series of public hearings to gather input
on whether the compensation of approximately $84 million owed MB will
be paid in cash or in land. No decision has yet been made by the
government on this matter.
Also in March 1999, US Customs announced that it proposed to reclassify
several products imported from Canada, which were previously exempted
from quota restrictions under the Canada/US Softwood Lumber Agreement.
In June, US Customs officially reclassified two such products, rougher
headed lumber and notched studs, effective August 9, 1999. During 1998,
30 million board feet or 17% of MB's total BC produced lumber shipments
to the US were rougher headed lumber.
Outlook
We expect the current strength in the US building materials market to
continue into the third quarter this year. While we have not yet seen
significant signs of recovery in Japan, we anticipate that market will
remain steady. We do not plan to take any downtime in our BC sawmills
in the third quarter, other than regularly scheduled maintenance. The
outlook is also positive for the containerboard business. Most
containerboard producers have announced price increases of US$40 per
ton for linerboard and US$50 per ton for medium effective July 1.
Dividends
On June 10, 1999 the Board of Directors declared a cash dividend of 5
cents per common share payable on September 10, 1999 to shareholders of
record on August 12, 1999. The Board also declared the cash dividends
on the preferred shares in accordance with MB's articles.
4 MacMillan Bloedel Limited 1999 Second Quarter Report
- ------------------------------------------
To Our Shareholders & Employees
Significant claims and litigation
There are no new material developments regarding roofing product claims
against American Cemwood Corporation, a wholly owned subsidiary of MB's
subsidiary MacMillan Bloedel (USA) Inc. The ultimate outcome of such
claims and their impact on MB, if any, is not determinable at this
time.
Year 2000
MB's Y2K program targeted the end of June 1999 for completion of
remediation of critical systems and hardware. With minor exceptions,
this target has been substantially met. Specific projects are scheduled
for the third quarter 1999 to deal with these exceptions.
Y2K readiness for in-house supported business information systems for
Solid Wood, Panelboards, Distribution, Packaging and corporate groups
is complete. A quality assurance program is under way to revalidate the
Y2K readiness of most of these systems and as yet, no material items
have been identified. A desktop server upgrade project is 98% complete,
with remaining work scheduled for completion in July 1999.
Critical supplier and customer programs are expected to remain in
progress in all business groups within MB throughout the balance of
1999. Contingency plans have been developed to address the risks to MB
in the event of a failure of the supply of services or products to MB
which are critical to the conduct of its business.
Corporate-wide contingency plan development is on target for completion
by the end of August 1999. These plans include risk assessment and risk
mitigation plans for critical processes subject to Y2K related risks.
Since inception, through the end of June 1999, MB has spent
approximately $11 million on its Y2K program and it is currently
anticipated that the final cost of the program, including contingency
measures, will not exceed $15 million. These amounts are direct costs
and do not include all the internal costs of employee time and
resources, some of which are difficult to define with an acceptable
degree of reliability. All costs are being expensed as incurred.
Notwithstanding the steps being taken by MB to achieve Y2K readiness,
there is no assurance that uncertainties surrounding the Y2K problem
will not materially or adversely impact MB's business operations and
its customers and business relationships.
Corporate profile
MacMillan Bloedel (TSE MB; Nasdaq MMBL) is one of Canada's largest
forest products companies with integrated operations in Canada, the US
and Mexico. The products of MB and its affiliate companies are marketed
throughout the world and include lumber, panelboards, engineered
lumber, containerboard and corrugated containers. Further information
on MB is available on the company's website (www.mbltd.com).
/s/ W. T. Stephens
W.T. Stephens
President & Chief Executive Officer
/s/ R/ F/ Haskayne
R.F. Haskayne
Chairman of the Board
July 21, 1999
_______________________________________________________________________
Forward-looking statements include, without limitation, statements
regarding expectations of operating results. Investors are cautioned
that forward-looking statements are subject to an inherent risk that
actual results may vary materially from those described, projected or
implied herein. Factors that may result in such variance include
changes in interest rates, commodity prices and other economic
conditions; actions by competitors changing weather conditions and
other natural phenomena; actions by government authorities;
technological developments such as Y2K; future decisions by management
in response to changing conditions; and misjudgments in the course of
preparing forward-looking statements.
MacMillan Bloedel Limited 1999 Second Quarter Report 5
- --------------------------------------------------
Consolidated Financial Statements
Consolidated Balance Sheet
---------------
June 30
unaudited ($ millions) 1999 1998
- ---------------------------------------------------------------
ASSETS
Current assets
Cash and short term investments $ 464 $ 937
Accounts receivable 407 464
Inventories 603 672
Other 28 25
- ---------------------------------------------------------------
1,502 2,098
Property, plant and equipment 1,800 1,806
Investments and other assets 94 82
- ---------------------------------------------------------------
3,396 3,986
Assets of discontinued operations -- 171
- ---------------------------------------------------------------
$ 3,396 $ 4,157
===============================================================
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Bank indebtedness and notes payable $ 20 $ 52
Accounts payable and accrued liabilities 647 621
Current portion of long term debt 27 396
- ---------------------------------------------------------------
694 1,069
Long term debt 865 1,083
Other long term obligations 114 121
Deferred income taxes 60 68
- ---------------------------------------------------------------
1,733 2,341
Liabilities and deferred income taxes of
discontinued operations -- 277
- ---------------------------------------------------------------
1,733 2,618
- ---------------------------------------------------------------
Shareholders' equity
Equity component of convertible
subordinated debentures 112 109
- ---------------------------------------------------------------
Preferred shares 62 65
- ---------------------------------------------------------------
Common shareholders' equity
Common shares - 120,298,770 shares
(1998 - 124,447,342 shares) 969 1,002
Retained earnings 573 446
Foreign exchange translation adjustment (53) (83)
- ---------------------------------------------------------------
1,489 1,365
- ---------------------------------------------------------------
1,663 1,539
- ---------------------------------------------------------------
$ 3,396 $ 4,157
===============================================================
6 MacMillan Bloedel Limited 1999 Second Quarter Report
- --------------------------------------------------
Consolidated Financial Statements
Consolidated Statement of Earnings
--------------- -----------------
Six Months Three Months
Ended Ended
unaudited ($ millions except June 30 June 30
per share amounts) 1999 1998 1999 1998
- --------------------------------------------------------------------------------
Sales $ 2,200 $ 2,072 $ 1,186 $ 1,082
- --------------------------------------------------------------------------------
Costs and expenses
Materials, labour and other operating
expenses 1,753 1,735 924 906
Depreciation, depletion and amortization 97 90 50 47
Selling, general and administrative (Note 1) 160 168 81 85
- --------------------------------------------------------------------------------
2,010 1,993 1,055 1,038
- --------------------------------------------------------------------------------
Operating earnings 190 79 131 44
Other income 21 8 8 4
Debt retirement costs -- (35) -- (35)
Interest expense (39) (53) (19) (30)
- --------------------------------------------------------------------------------
Earnings (loss) from continuing operations
before income taxes 172 (1) 120 (17)
Income tax (expense) recovery (66) 1 (47) 8
- --------------------------------------------------------------------------------
Earnings (loss) from continuing operations 106 -- 73 (9)
Loss from discontinued operations -- (39) -- (46)
- --------------------------------------------------------------------------------
Net earnings (loss) $ 106 $ (39) $ 73 $ (55)
================================================================================
Earnings (loss) per common share
Earnings (loss) from continuing operations
Basic $ .86 $ (.02) $ .60 $ (.08)
Fully diluted $ .82 $ (.02) $ .57 $ (.08)
Net earnings (loss)
Basic $ .86 $ (.33) $ .60 $ (.45)
Fully diluted $ .82 $ (.33) $ .57 $ (.45)
Consolidated Statement of Retained Earnings
---------------- ----------------
Six Months Three Months
Ended Ended
June 30 June 30
unaudited ($ millions) 1999 1998 1999 1998
- ---------------------------------------------------------------------------
Retained earnings, beginning of period $ 507 $ 508 $ 515 $ 517
Net earnings (loss) 106 (39) 73 (55)
- ---------------------------------------------------------------------------
613 469 588 462
- ---------------------------------------------------------------------------
Purchase of common shares in excess of
average stated value 17 -- -- --
Stock option plan - share appreciation
right payments, net of income taxes 1 -- 1 --
Interest on equity component of
convertible subordinated debentures 1 1 -- 1
Dividends
Preferred shares 3 3 2 2
Common shares 18 19 12 13
- ---------------------------------------------------------------------------
40 23 15 16
- ---------------------------------------------------------------------------
Retained earnings, end of period $ 573 $ 446 $ 573 $ 446
===========================================================================
MacMillan Bloedel Limited 1999 Second Quarter Report 7
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Consolidated Financial Statements
Consolidated Statement of Cash Flow
------------- --------------
Six Months Three Months
Ended Ended
June 30 June 30
unaudited ($ millions) 1999 1998 1999 1998
- ------------------------------------------------------------------------------
Operating activities
Earnings from continuing operations $ 106 $ -- $ 73 $ (9)
Depreciation, depletion and amortization 97 90 50 47
Debt retirement costs -- 35 -- 35
Deferred income taxes 53 (9) 40 (13)
- ------------------------------------------------------------------------------
256 116 163 60
Changes in non-cash working capital
Accounts receivable (144) (71) (15) 49
Inventories 2 80 (3) 8
Accounts payable and accrued liabilities 82 19 23 36
Other (8) (7) (7) 3
- ------------------------------------------------------------------------------
Cash provided by operating activities 188 137 161 156
- ------------------------------------------------------------------------------
Investing activities
Capital expenditures (75) (49) (37) (31)
Acquisition of businesses, net of cash acquired (81) -- (63) --
Investments and other assets (7) (1) (5) --
Disposal of assets and other (17) 30 (8) 28
- ------------------------------------------------------------------------------
Cash used for investing activities (180) (20) (113) (3)
- ------------------------------------------------------------------------------
Financing activities
Net debt repaid (67) (111) (26) (73)
Debt retirement costs -- (35) -- (35)
Purchase and redemption of shares (37) -- (2) --
Dividends paid (15) (15) (8) (8)
- ------------------------------------------------------------------------------
Cash used for financing activities (119) (161) (36) (116)
- ------------------------------------------------------------------------------
Cash provided by (used for) continuing operations (111) (44) 12 37
Cash provided by discontinued operations -- 812 -- 783
- ------------------------------------------------------------------------------
Net increase (decrease) in cash and
short term investments (111) 768 12 820
- ------------------------------------------------------------------------------
Cash and short term investments,
beginning of period 586 165 459 112
Effect of exchange rate changes (11) 4 (7) 5
- ------------------------------------------------------------------------------
575 169 452 117
- ------------------------------------------------------------------------------
Cash and short term investments, end of period $ 464 $ 937 $ 464 $ 937
==============================================================================
8 MacMillan Bloedel Limited 1999 Second Quarter Report
- --------------------------------------------------
Consolidated Financial Statements
Segmented Information (Note 2)
---------------- -------------------
Six Months Ended Three Months Ended
June 30 June 30
unaudited ($ millions) 1999 1998 1999 1998
- ----------------------------------------------------------------------------
Sales
Solid Wood $ 585 $ 516 $ 306 $ 253
Engineered Lumber 327 267 166 137
Panelboards 168 95 93 47
Distribution 978 898 551 476
Packaging 493 582 254 300
Other Operations 23 21 11 10
Inter-segment (374) (307) (195) (141)
- ----------------------------------------------------------------------------
$ 2,200 $ 2,072 $ 1,186 $ 1,082
============================================================================
Operating earnings
Solid Wood $ 62 $ 13 $ 30 $ 1
Engineered Lumber 36 32 19 18
Panelboards 59 16 40 11
Distribution 29 7 24 10
Packaging 37 43 33 18
Other Operations 3 (2) 1 (2)
Corporate (33) (33) (18) (12)
Inter-segment (3) 3 2 --
- ----------------------------------------------------------------------------
$ 190 $ 79 $ 131 $ 44
============================================================================
Selected MB Produced Product Shipments
------------ -------------
Six Months Three Months
Ended Ended
June 30 June 30
unaudited ($ millions) 1999 1998 1999 1998
- ------------------------------------------------------------------------------
Solid Wood
Lumber - BC produced(1) MMfbm 390 300 189 161
Logs and chips - BC produced(2) k m3 1,965 1,412 1,227 973
Packaging
Containerboard(3) k tonnes 502 476 247 230
Corrugated containers(4) k tonnes 229 209 115 106
Panelboards
OSB - Canada produced(5) MMsq.ft. 3/8" 457 360 233 173
- ------------------------------------------------------------------------------
1 Includes sales to Distribution.
2 1998 includes sales to former MB Paper mills.
3 Includes sales to Packaging and MacMillan Bathurst corrugated
container plants the latter of which was sold effective August 1998.
4 Includes SpaceKraft(r), sheet and sheet feeder plants. Amounts have
been restated to conform with the current presentation.
Excludes sales by MacMillan Bathurst.
5 Includes sales to Distribution and MB's proportionate share of joint
ventures. 1999 sales include all of Eagle Forest while 1998
reflects 51%. Since June 1, 1999 sales include all of Saskfor
MacMillan while prior periods reflect 50%.
MacMillan Bloedel Limited 1999 Second Quarter Report 9
- --------------------------------------------------
Consolidated Financial Statements
Notes to Consolidated Financial Statements
1. To conform with general industry practice, effective January 1,
1999, the company changed the classification of certain costs
previously recorded as selling, general and administrative expenses.
Prior periods have been restated.
2. Effective January 1, 1999, the company has made organizational
changes that impact the composition of reportable business segments. As
a result, the sawmills in Ontario are now included in the Solid Wood
segment with the Green Forest Lumber trading and marketing operations
included in the Distribution segment. The Canadian panelboard
operations are now reflected under the Panelboards segment. Previously
disclosed segment information has been restated.
3. The company acquired the remaining 50% of the Saskfor MacMillan
Limited Partnership for $80 million during the second quarter bringing
the ownership to 100%. The Saskfor assets include an OSB mill, a
plywood plant and a sawmill.
10 MacMillan Bloedel Limited 1999 Second Quarter Report
- --------------------------------------------------
Shareholder Information
Stock Exchange Listings
MacMillan Bloedel Common & Class B preferred shares Series 8 and 10 are
listed for trading on the Toronto, Montreal and Vancouver stock
exchanges (ticker symbol MB).
In the USA, MB common shares trade on the NASDAQ National Market System
(ticker symbol MMBL).
Transfer Agents and Registrars
Canada
Montreal Trust Company of Canada
(Vancouver, Calgary, Regina,
Winnipeg, Toronto, Montreal)
Contact: Shareholder Inquiries
Phone: 1-800-660-5552
Phone: (604) 661-0222
Fax: (604) 661-9480
USA
Bank of Nova Scotia Trust Company
of New York, as agent for
Montreal Trust Company of Canada
Phone: (212) 225-5422
Fax: (212) 225-5436
Shareholder Inquiries
Any shareholder inquiries regarding administrative matters may be
directed to Montreal Trust Company of Canada at the 1-800 number listed
above.
Dividend Reinvestment Plan
Registered MB shareholders are eligible to participate in the MB
Dividend Reinvestment Plan. For information on the Plan, please contact
Montreal Trust Company of Canada at the 1-800 number listed above.
Investor Relations Information
Shareholders, financial analysts, portfolio managers and other
investors seeking information about MB should contact:
Marcia Butler
Director, Corporate Finance and Investor Relations
Phone: (604) 661-8312
Fax: (604) 681-5908
Financial Information
Requests for financial publications, such as annual and quarterly
reports to shareholders, should be directed to:
MacMillan Bloedel Limited
Investor Relations
925 West Georgia Street
Vancouver, British Columbia
Canada V6C 3L2
Phone: (604) 661-8310
Fax: (604) 681-5908
These documents are also available in French upon request.
Public Information
General inquiries about MB should be directed to:
MacMillan Bloedel Limited
Public Affairs
925 West Georgia Street
Vancouver, British Columbia
Canada V6C 3L2
Phone: (604) 661-8144
Fax: (604) 687-5345
Head Office
925 West Georgia Street
Vancouver, British Columbia
Canada V6C 3L2
Phone: (604) 661-8000
Fax: (604) 661-8377
Website
www.mbltd.com