In This Issue:

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

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By Susan Merivirta, Chief Financial OfficerCorporate News

What an exciting month we have had here in Coulson Corporate offices! The collective community emotion that has come from Coulson Group's purchase of the Martin Mars Water Bombers was not expected. We will work diligently to market the aircraft to new and existing customers. It will be interesting to see how the marketplace views these aircraft now that they are operated by a local, aviation company with fire suppression experience throughout the world.

We are starting to solidify our manning strategies to keep all Coulson companies and initiatives properly staffed to ensure that the Administrative and Accounting teams keep up their end of the Coulson business. We hired Tricia Sparrow on March 5, 2007 to work between Coulson Manufacturing and Coulson Forest Products on a full-time basis. We are very happy with Tricia's performance, and both John Kuch and Randy Rose are becoming more organized through Tricia's professional initiatives. Karen Salyn has been Tricia's CFP mentor; Darlene Kemps has been her CML mentor. Thank you, ladies, for a job well done.

Cheryl Doyle will be beginning work on May 14th in the payroll department of CFP. She will be replacing Linda Bird, who will begin working with me full-time on the RimRock staffing plan. Cheryl has worked three years in Nanaimo, and has been commuting back and forth from Port Alberni to Nanaimo. We believe that she is a good fit with our Administrative team and look forward to her start date.

Last but not least, we have a new employee in the Forestry Department. Foster Coulson has decided to learn the log harvesting side of the business and is starting his training program with Paul Pashnik and his Forestry team.

We are excited with the personnel changes that are happening and look forward to learning new things from each of our new employees. Change is good, and it seems like it has been awhile since the change we have been facing has been positive and totally in our control.

The best executive is the one who has sense enough to pick good people to do what he wants done, and self-restraint enough to keep from meddling with them while they do it.

- Theodore Roosevelt, Words of Honour, Pg. 141