60519--2/27/2009--LOUISIANA-PACIFIC_CORP

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{cost, regulation, environmental}
{condition, economic, financial}
{acquisition, growth, future}
{debt, indebtedness, cash}
{cost, contract, operation}
{financial, litigation, operation}
{product, market, service}
{tax, income, asset}
{operation, international, foreign}
{loan, real, estate}
Cyclical industry conditions and commodity pricing have and may continue to adversely affect our financial condition and results of operations. We have a high degree of product concentration. Intense competition in the building products industry could prevent us from increasing or sustaining our net sales and profitability. Our results of operations may be harmed by potential shortages of raw materials and increases in raw material costs. Our operations require substantial capital We are subject to significant environmental regulation and environmental compliance expenditures and liabilities. We are involved in various environmental matters, product liability and other legal proceedings. The outcome of these matters and proceedings and the magnitude of related costs and liabilities are subject to uncertainties. The valuation of our investment in auction-rate securities (ARS) is subject to uncertainties that are difficult to predict. Settlements of tax exposures may exceed the amounts we have established for known estimated tax exposures, and the tax refund amounts we receive may be received in an amount less than, and at a time later than, our estimates, if at all. Fluctuations in foreign currency exchange rates could result in currency exchange losses. We may be unable to service our indebtedness, to refinance our indebtness or to fund our other liquidity needs. Execution of our business strategies could strain management and other resources, which could adversely affect our business and financial performance. We have not verified the results of third-party research or confirmed assumptions or judgments upon which it may be based, and the forecasted and other forward-looking information contained therein is subject to

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