Longview Fibre to Call Special Meeting of Shareholders
June 7, 2006 (Press Release) - Longview Fibre Company today announced that its Board of Directors has elected to hold a special meeting of shareholders on September 12, 2006. The purpose of the special meeting is to consider and vote on the advisory, non-binding proposals advanced by Obsidian Finance Group, LLC and The Campbell Group, LLC in the solicitation statement recently mailed to the company's shareholders.
"As we stated in our June 5 letter to shareholders, we are not opposing the holding of a special meeting at which shareholders can consider and vote upon Obsidian's and Campbell's proposals," said Richard H. Wollenberg, Longview Fibre's President, Chief Executive Officer and Chairman of the Board. "It has been more than six weeks since Obsidian and Campbell first stated they would seek to hold a special meeting, and they are just now commencing their solicitation for that purpose. In order to eliminate the uncertainty as to timing resulting from their delays, our Board decided to take the initiative and schedule the special meeting to be held on September 12."
Mr. Wollenberg continued, "We believe Obsidian and Campbell are fundamentally undervaluing Longview Fibre and its high quality timber assets, and we plan to vigorously oppose their self-interested proposals. We look forward to the opportunity to meet with shareholders in advance of the special meeting and discuss in more detail the progress we are making in executing our operating plan."
Certain Information Regarding Participants
Longview Fibre Company's directors and certain of its executive officers, as well as Longview Fibre Company, may be deemed to be participants in any solicitation of Longview Fibre Company's shareholders in opposition to any solicitation conducted by Obsidian Finance Group, LLC and/or The Campbell Group, LLC or any of their affiliates for proxies to vote at the special meeting of Longview Fibre Company shareholders. Shareholders may obtain information regarding the names, affiliations and interests of such individuals in Longview Fibre Company's proxy statement for the company's 2006 annual meeting of shareholders, filed with the SEC on February 27, 2006 on Schedule 14A. A copy of that proxy statement may be obtained free of charge on the Securities and Exchange Commission's Web site at www.sec.gov, through the link to Longview Fibre Company's SEC filings on the company's Web site at www.longviewfibre.com or by directing a request to L.J. McLaughlin, 300 Fibre Way, Longview, Washington 98632, (360) 425-1550.
In connection with the special meeting of Longview Fibre Company shareholders, Longview Fibre Company expects to file a proxy statement and/or other soliciting materials and other relevant documents with the SEC. Shareholders should read any such proxy statement, other soliciting materials or other relevant documents when and if they become available, because they will contain important information. Shareholders may obtain copies of such documents (when and if they become available) free of charge on the SEC's Web site at http://www.sec.gov, through the link to Longview Fibre Company's SEC filings on the company's Web site at http://www.longviewfibre.com or by directing a request to L.J. McLaughlin, 300 Fibre Way, Longview, Washington 98632, (360) 425- 1550.
SOURCE: Longview Fibre Company