Masisa formally awarded the sale of the sawmill and the forestry lands,with a total approximate area of 13,511 hectares of lands and an approximatesurface area of 7,140 hectares of planted forests, to the Brazilian companyRenova Floresta Ltda. related to an investment fund of foreign institutionalinvestors managed by the US entity Global Forest Partners LP.

The sale considers a total and single price of US$70,250,000 for thesawmill and the forestry land, which shall be paid in cash upon signing therespective final purchase and sale deeds, which shall be signed no later thanMarch 5, 2009.

The award of the aforementioned package of assets in the mentionedconditions means that Masisa will make a consolidated recognition of a onetime financial income, before tax, of approximately US$3,500,000.

The proceeds obtained from this sale will be allocated in the short termto paying off the financial liabilities of the Company and in the mid term tofinancing a 3-year forestry investment plan.

About Masisa

Masisa is a leading furniture and interior architecture board productionand marketing company in Latin America. It owns forest assets in most of theregion, thereby guaranteeing the raw material for its board business. Masisa'svalue proposal is to be a reliable brand, and a company close to all itsstakeholders, anticipating market needs by means of product and serviceinnovation, and operating responsibly towards society and the environment.

Masisa has 13 production plants in Chile, Argentina, Brazil, Venezuela andMexico, all of which will have the ISO 14,001 and OHSAS 18,001 certification.Masisa is currently building an MDP plant in Montenegro, Brazil, that willhave an annual production capacity of 750,000 cubic meters of MDP and anannual melaminating capacity of 300,000 cubic meters. This plant will be thecompany's largest plant in Latin America, mainly for supply to the Brazilianmarket.

Masisa is a publicly traded corporation and its shares are traded on theSantiago Stock Exchange. The Company had total sales of approximatelyUS$ 966 million in 2007.

Forecasts and Estimates

This press release may contain forecasts, which are different statementsfrom historical facts or current conditions, and include the management'scurrent vision and estimates of future circumstances, industry conditions andthe Company's performance. Some forecasts may be identified by the use ofterms such as "may," "should," "anticipates," "believes," "estimates,""expects," "plans," "intends," "forecasts" and other similar expressions.Statements about future market share, projected future competitive strengths,the implementation of significant operating and financial strategies, thedirection of future operations, and the factors or trends affecting financialconditions, liquidity, or operating income are examples of forecasts. Suchstatements reflect the current management vision and are subject to variousrisks and uncertainties. There is no guarantee that the expected events,trends or results will actually occur. These statements are made based on manyassumptions and factors, including general economic and market conditions,industry conditions and operating factors. Any changes in such assumptions orfactors could lead to the current results of Masisa, and the projected Companyactivities, to materially differ from current expectations.

For further information, please contact: Investor Relations (56 2) 350 6038 investor.relations@masisa.com Internet: www.masisa.comSOURCE Masisa S.A.