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-- Masisa Shareholders Approve Proposed Capital Increase of US$150 Million SANTIAGO, Chile, Aug. 29 /PRNewswire-FirstCall/ -- Masisa S.A. (NYSE:MYS) ("Masisa" or "the Company"), announced that at its Extraordinary Shareholders' Meeting held today, its shareholders approved a proposed capital increase of US$150 million. The capital increase will be conducted through one or more share offerings, totaling 650 million shares at a price to be determined by the Company's Board of Directors within the next 120 days. The proceeds from the capital increase will be used mainly to finance a portion of the Company's capital expenditure plans for the next 3 years, which include a new MDF plant in Chile, announced in June 2005, as well as additional investments, including a new MDF plant in Brazil, a plywood plant in Chile and forestry investments in Chile and Brazil. A registration statement relating to these securities has not yet been filed with the U.S. Securities and Exchange Commission. These securities, if registered, may not be sold nor may offers to buy be accepted prior to the time the proposed registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. 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 / Emilio Pellegrini Investor Relations +011-56-2-707-8707 http://www.masisa.com/ Melanie Carpenter / Peter Majeski i-advize Corporate Communications, Inc. +1-212-406-3692/4 DATASOURCE: Masisa S.A. CONTACT: Investors, Paul White, , or Emilio Pellegrini, both of Masisa, +011-56-2-707-8707; or Melanie Carpenter, +1-212-406-3692, or Peter Majeski, +1-212-406-3694, both of i-advize Corporate Communications, Inc., for Masisa, Web site: http://www.masisa.com/

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