Mr. Larry Hughes reports

WEST FRASER TIMBER CO. LTD.: WEST FRASER ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID DIVIDEND NOTICE

West Fraser Timber Co. Ltd. is proceeding with a renewal of its normal course issuer bid for up to four million common shares of the company, representing approximately 5 per cent of the issued and outstanding common shares of the company. On Sept. 14, 2015, the company had a total of 80,171,720 common shares outstanding. The company has received approval from the Toronto Stock Exchange to commence this bid on Sept. 18, 2015. Purchases will be made on the TSX at the market price at the time of acquisition. Pursuant to TSX policies, daily purchases will not exceed 62,247 common shares except where such purchases are made in accordance with block purchase exemptions under applicable TSX policies.

The company's normal course issuer bid will terminate on Sept. 16, 2016, or earlier if the number of shares sought in the normal course issuer bid have been purchased. The company reserves the right to terminate the bid earlier if it feels it is appropriate to do so.

The company believes that the market price of its common shares at certain times may be attractive and that the repurchase of common shares at such market prices is an appropriate use of corporate funds.

All shares will be purchased either on the open market through the facilities of the TSX or through other Canadian marketplaces, and payment for the shares will be in accordance with TSX policies. The price paid for the shares will be the market price at the time of purchase. No purchases will be made other than by means of open market transactions during the term of the normal course issuer bid. The shares purchased by the company will be cancelled. Purchases may be suspended by the company at any time.

The company's current normal course issuer bid for the purchase of up to four million shares expires on Sept. 16, 2015. As at the close of trading on Sept. 14, 2015, the company has purchased 1,389,756 of its issued and outstanding common shares pursuant to such bid, at a weighted-average price of $56.18 per common share.

Dividend notice

The board of directors of West Fraser Timber has declared a quarterly dividend of seven cents per share on the common shares and Class B common shares in the capital of the company, payable on Oct. 13, 2015, to shareholders of record on Sept. 28, 2015.

Dividends are designated to be eligible dividends pursuant to Subsection 89 (14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends.

We seek Safe Harbor.