MYS Masisa SA (New) Ads

SANTIAGO, Chile, Aug. 4 /PRNewswire/ -- Masisa S.A. (NYSE:MYS) announced today the date of the share exchange in connection with the merger by incorporation of Masisa S.A. ("Old Masisa") into and with Terranova S.A., which changed its name to Masisa S.A. ("New Masisa") upon completion of the merger in May 2005. The share exchange will take place after the market close on August 4, 2005, at which time Old Masisa American Depositary Shares ("ADSs") will stop trading on the New York Stock Exchange ("NYSE"). It is expected that on August 5, 2005, following the exchange, the New Masisa ADSs will begin trading on the NYSE under the ticker symbol "MYS", the same ticker symbol under which the Old Masisa ADSs traded. In the share exchange, holders of Old Masisa's ADSs, each representing 30 Old Masisa common shares, will receive 1.536 New Masisa ADSs, each representing 50 New Masisa common shares, for each Old Masisa ADS they own. Holders of Old Masisa's common shares, which are traded principally on the Santiago Stock Exchange in Chile, will receive 2.56 New Masisa common shares for each Old Masisa common share they own. 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, industry conditions and company performance. Some forward-looking statements may be identified by our use of the terms " may," "should," "anticipates," "believes," "estimates," "expects," "plans," "intends" and similar expressions. Statements regarding future market share, projected future competitive strength, the implementation of principal operating and financing strategies, the direction of future operations, and the factors or trends affecting financial condition, liquidity or results of operations 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: Paul White Investor Relations +56 (2) 707-8707 http://www.masisa.com/ Melanie Carpenter / Peter Majeski i-advize Corporate Communications, Inc. +1 (212) 406-3692/4 DATASOURCE: Masisa S.A. CONTACT: Paul White, Investor Relations of Masisa, +011-56-2-707-8707, or ; or Melanie Carpenter or Peter Majeski, both of i- advize Corporate Communications, Inc., +1-212-406-3692 or 1-212-406-3694, or , for Masisa Web site: http://www.masisa.com/ http://www.i-advize.com/

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