The operation amounted to US$70 million and is an important step by Masisa to continue growing in the Brazilian market, thereby consolidating its regional leadership SANTIAGO, Chile, Jan. 15 /PRNewswire-FirstCall/ -- Masisa and Brascan Brazil Ltda., a Brazilian company owned by the Canadian entity Brookfield Asset Management Inc., today signed a share purchase and sale contract in which Masisa acquired 45.68% of the shareholding of the Brazilian company Tafibras Participaciones S.A. (hereinafter referred to as "Tafibras") and indirectly through Tafibras 37% of the shareholding of the Brazilian affiliate of Tafibras called Tafisa Brazil S.A. (hereinafter referred to as "Tafisa Brazil"). The price of this purchase and sale agreement was US$70,000,000 and will be financed with third-party debt. "This agreement to acquire a stake in Tafisa Brazil reflects that we are consolidating our regional leadership in the wood boards for furniture and interior architecture market and that we are constantly analyzing the opportunities that arise in order to generate value for our shareholders," said Masisa CEO Enrique Cibie. It should be highlighted that in late September 2007 the Masisa board approved the construction of a medium density particleboard (MDP) plant in Rio Grande do Sul, Brazil, entailing US$119 million. The main line of business of Tafisa Brazil is the manufacture of wooden boards and it has an industrial plant in the state of Parana, Brazil, with a production capacity of 380,000 cubic meters of medium density fiberboard (hereinafter referred to as "MDF") a year, 260,000 cubic meters of medium density particleboard (hereinafter referred to as "MDP") a year, and 300,000 cubic meters of melamine boards (hereinafter referred to as "Melamine") Tafibras and Tafisa Brazil are closed stock corporations. The remaining shareholders of Tafibras and Tafisa Brazil are all companies indirectly owned by Sonae Industria, SGPS, S.A., a Portuguese publicly-traded corporation (hereinafter referred to as "Sonae Industria"). Sonae Industria is today one of the world leaders in the wood board industry. It has an annual capacity of 7.1 million cubic meters of wood boards and it operates in nine countries, one of which is Brazil. In total, Sonae Industria has 36 production facilities. An agreement that generates synergy and higher growth Sonae Industria and Masisa have committed to working on the negotiation, agreement and implementation of a combination of the business of Tafisa Brazil and of Masisa's Brazilian affiliate Masisa do Brazil Ltda. (hereinafter referred to as "Masisa Brazil") in the next few months, be this by means of a merger of the mentioned companies in Brazil or by another legal structure of these characteristics with the aim of positioning the new merged entity as a leading company in the Brazilian market. The business that Masisa Brazil will provide to the mentioned merger would be its production capacity of 280,000 cubic meters of MDF a year and 220,000 cubic meters of melamine a year, both at its Parana plant in Brazil, plus the capacity to produce 675,000 cubic meters of MDP a year and 250,000 cubic meters of melamine boards a year both at the new plant at Rio Grande do Sul, Brazil. Forecasts and Estimates This press release may contain forecasts, which are different statements from historical facts or current conditions, and include the management's current vision and estimates of future circumstances, industry conditions and the Company's performance. Some forecasts may be identified by the use of terms 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, the direction of future operations, and the factors or trends affecting financial conditions, liquidity, or operating income are examples of forecasts. Such statements reflect the current management vision and are subject to various risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. These statements are made 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 lead to the current results of Masisa, and the projected Company activities, to materially differ from current expectations. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 15, 2008 Masisa S.A. By: /s/ Enrique Cibie Enrique Cibie CEO For further information, please contact: Investor Relations (56 2) 350 6038 Internet: http://www.masisa.com/ DATASOURCE: Masisa CONTACT: Investor Relations, Masisa, +011-562-350-6038, Web site: http://www.masisa.com/

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