EXHIBIT 11


                Louisiana-Pacific Corporation and Subsidiaries
                      Calculation of Net Income Per Share
                    For the Six Months Ended June 30, 1996



                                                Number of shares
                                    -----------------------------------
                                         Including              Excluding
                                      Common Stock           Common Stock
                                       Equivalents        Equivalents (1)
                                      ------------        ---------------

Weighted average number of shares
  of common stock outstanding          116,937,022            116,937,022

Weighted average number
  of shares sold to ESOTs subsequent
  to January 1, 1994, not allocated
  to participants' accounts(2)          (1,305,349)            (1,305,349)
  
Weighted average number of 
  shares of treasury stock held
  during the period                     (8,374,375)            (8,374,375)

Common stock equivalents:
  Application of the "treasury
  stock" method to stock option
  and purchase plans                       150,231                    ---
                                      ------------           ------------
Weighted average number of shares
  of common stock and common stock
  equivalents                          107,407,529            107,257,298
                                      ============           ============
Rounded to                             107,410,000            107,260,000
                                      ============           ============
Net income                            $ 17,400,000           $ 17,400,000
                                      ============           ============
Net income per share                  $        .16           $        .16
                                      ============           ============


(1) Accounting Principles Board Opinion No. 15, "Earnings Per Share," allows
    companies to disregard dilution of less than three percent in the
    computation of earnings per share.  Therefore, shares used in computing
    earnings per share for financial reporting purposes is 107,260,000
    shares.

(2) American Institute of Certified Public Accountants Statement of Position
    No. 93-6, "Employers' Accounting for Employee Stock Ownership Plans"
    requires that shares held by the registrant's ESOTs which were acquired
    by the ESOTs on or after January 1, 1994, which are not allocated to
    participants' accounts, are not considered outstanding for purposes of
    computing earnings per share.  Shares held by the ESOTs which were
    acquired by the ESOTs prior to January 1, 1994, continue to be considered
    outstanding (whether or not allocated to participants' accounts) for
    purposes of computing earnings per share.