Tax Information

Tax Information before conversion from an Income Trust to a Corporation

Prior to the conversion of Acadian Timber Income Fund (the "Fund") to a corporation, unitholders were generally required to include the amount of the Fund's net income for tax purposes, including net realized taxable capital gains and dividends, in their taxable income for the year.

Dividend income distributed to unitholders was designated as non-eligible dividends for Canadian tax purposes in all taxation years prior to the conversion to a corporation. The non-taxable portion of the Fund's net realized capital gains and any other amount in excess of the Fund's net income for tax purposes generally did not need to be included in the unitholder's income. Such amounts may have reduced the adjusted cost base of the unitholder's units.

This information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and held trust units as capital property. Unitholders of trust units outside of a registered retirement savings plan, registered retirement income fund, tax free saving account or deferred profit sharing plans should receive a T3 slip from their investment dealer. If this is not the case, a tax advisor should be consulted.

Tax information on distributions is typically provided in the following March.

2009 Tax Information

Investor Inquiries

Robert Lee
Investor Relations
Tel: (604) 661-9607
Fax: (604)687-3419
Email: robert.lee@acadiantimber.com

Suite 458, Bentall 5
550 Burrard Street, Box 51
Vancouver, BC   V6C 2B5

Transfer Agent

For inquiries regarding share transfers, changes of address, dividend cheques and lost share certificates, please contact Acadian Timber's transfer agent:

CIBC Mellon Trust Company
P.O. Box 7010
Adelaide Street Postal Station
Toronto, Ontario M5C 2W9

Tel: 416-643-5500
Toll Free: 800-387-0825
Fax: 416-643-5501
Email: inquiries@cibcmellon.com
www.cibcmellon.com