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Boise Cascade Puts Vancouver, Wash. Mill Site Up for Sale

Jan. 18, 2006 (Press Release) - Boise Cascade said that it is formally offering its mill-site property in Vancouver, Washington, for sale. The 29-acre river-front parcel of land, located in the heart of downtown Vancouver, Washington, is open for bid by any interested developers through March 17, 2006. Boise intends to accept the best offer that calls for no conditions precedent to closing, with the buyer having completed all due diligence prior to making an offer to purchase.

For the first time in 100 years, this river-front site is offered for redevelopment. The site continues to be at the epicenter of economic activity built at the confluence of the Willamette and Columbia rivers.

Initially developed in 1928 as a site for the Columbia River paper mill, the operation was purchased by Boise Cascade in 1962. In 1996, Boise Cascade announced it was ceasing paper manufacturing at Vancouver and transforming this facility into a paper converting plant. Subsequently in June 2005, Boise Cascade announced that the company intended to sell the Vancouver river-front property and cease its existing paper converting operations.

In preparation to offer this property for sale, Boise Cascade completed a thorough Phase II environmental assessment. The company has completed remediation of issues discovered in the assessment.

An offering price has not been established. The property is offered on an as-is, where-is basis. A closing will be scheduled prior to the end of second quarter 2006. Should anyone wish to further examine this offering, please contact Debi Shaklee, executive assistant, Boise Cascade Paper Engineering Department to receive a confidentiality agreement. Her telephone number is 208 384 7649.

SOURCE: Boise Cascade




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