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The Company Successfully Completed the Preemptive Rights Offering Period With a High Level Of Shareholder Subscriptions SANTIAGO, Chile, Jan. 10 /PRNewswire-FirstCall/ -- Masisa S.A. (NYSE:MYS) ("Masisa" or "the Company") announced today that its capital increase preemptive option period was successfully completed, with total proceeds of approximately US$120 million. The first phase, which was completed on December 7, 2005, yielded proceeds of US$75 million. Of this amount, 66% was placed in the U.S. market via the Company's ADR program. The second phase of this process was completed on January 5, 2006, upon the completion of the preemptive rights offering period, raising an additional US$45 million. With the completion of both phases, Masisa raised a total of US$120 million. The principal objectives of the capital increase were to finance the Company's investment projects, which include a new MDF plant in Chile, currently under construction, as well as the purchase of minority interests in the forestry subsidiaries, Forestal Tornagaleones S.A. (Chile) and Forestal Argentina S.A. (Argentina). Furthermore, other projects under consideration include a MDF line in Brazil, a Plywood plant in Chile, and additional forestry investments. Enrique Cibie, Masisa's CEO, expressed his satisfaction with the results of the capital increase and stated, "We are pleased with the significant investor interest both in Chile and abroad. In particular, the two main objectives of the capital increase were to raise the resources required by the Company, in addition to revitalizing its ADR program, by increasing the number of shares while strengthening stock liquidity. Both achievements benefit the Company's shareholders in the long term." Forward-Looking Information This news release may contain forward-looking statements. Forward-looking statements are statements other than statements of historical facts or current condition, and include, without limitation, management's current view and estimates of future circumstances. Some forward-looking statements may be identified by our use of the terms "may," "will" and similar expressions. Statements regarding the expiration of the rights offering and expected use of proceeds of the offerings are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions and operating factors. Any changes in such assumptions or factors could cause the actual results of Masisa, and the planned actions of the company, to differ materially from current expectations. For further information contact: Felipe Garcia-Huidobro / Emilio Pellegrini Investor Relations +56 (2) 350-6038 http://www.masisa.com/ Melanie Carpenter / Peter Majeski i-advize Corporate Communications, Inc. +1 (212) 406-3692/4 DATASOURCE: Masisa S.A. CONTACT: Felipe Garcia-Huidobro or Emilio Pellegrini, Investor Relations, Masisa, +011-56-2-350-6038, or ; or Melanie Carpenter, +1-212-406-3692, or Peter Majeski, +1-212-406-3694, both of i-advize Corporate Communications, Inc., for Masisa, or Web site: http://www.masisa.com/

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