In This Issue:

• Message from the CEO
• Corporate News
• Operations
• Log Harvesting
• Mill Report
• Millworks
• Forestry News
• Safety Stats
• Information Systems
• Calendar

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Message from the CEO

Year 2007 was a good year for the Coulson Group of Companies

We were successful in providing stable employment in our Forestry and Manufacturing companies, and we grew our Aviation side with the addition of some new aircraft – the Martin Mars Water Bombers. We also became involved with the Alberni Valley Gaming Association as managers of the Chances RimRock Gaming Centre. This initiative has provided stability to our Administrative team.

The Coulson Group of Companies is now operating in many different parts of the world, and we are proud of our roots in Port Alberni. Our success is due in no small measure to the loyalty, trust and hard work of our employees. Thank you for this support.

Christmas is a time to celebrate with friends and loved ones. The Coulson family is hosting a Cocktail Reception on Tuesday, December 18th between the hours of 7pm and 10pm at the Chances RimRock Cypress Restaurant and Lounge. We look forward to seeing all current and past employees who are able to attend. Cold and Hot Appetizers will be served.

On behalf of the entire Coulson Family and our management team, we wish you and your family a safe and prosperous 2008.

Wayne, Suzan, Britton and Foster