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SANTIAGO, Chile, March 1 /PRNewswire-FirstCall/ -- MASISA S.A. (NYSE:MYS) ("Masisa" or the "Company"), a leading company in the Latin American forestry and wood products industry, announced its consolidated financial results for the fourth quarter and 12-month periods ended December 31, 2005. HIGHLIGHTS * Net sales for the year 2005 increased 14.3%, year-over-year, amounting to US$744.0 million. * Gross profit for the year 2005 increased 2.8%, year-over-year, amounting to US$194.5 million. * Operating income for the year 2005 decreased 13.9%, year-over-year, amounting to US$81.9 million, mainly due to higher costs and expenses. * Earnings per share for the fourth quarter of 2005 registered a loss of US$0.0002. Quarter ended Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, 2004 2005 2005 2005 2005 (in million US$, except per share and percentages) Net Sales 175.3 178.1 175.9 195.9 194.1 Gross Profit 50.4 51.5 46.8 51.4 44.8 Operating Income 21.6 28.4 19.3 22.4 11.8 Net Income (1) 30.6 14.4 7.1 6.1 (1.3) Earnings per Share (US$) (1) 0.0078 0.0029 0.0014 0.0012 -0.0002 Earnings per ADS (US$) (1) - 0.14 0.07 0.06 -0.01 Margins Over Sales (2) Gross Profit Margin 28.8% 28.9% 26.6% 26.2% 23.1% Operating Margin 12.3% 15.9% 10.9% 11.5% 6.1% Net Income Margin 17.4% 8.1% 4.0% 3.1% -0.7% Change (3) Net Income - 1.6% -1.3% 11.4% -1.0% Gross Profit Margin - 2.2% -9.3% 10.0% -12.9% Operating income - 31.2% -32.2% 16.5% -47.3% Net Income - -52.8% -50.7% -13.7% - Earnings per Share - -63.2% -50.7% -13.7% - (1): Net Income for the Period, Earnings per Share, and Earnings per ADS as of March 31st, 2005 are pro-forma figures considering the effective merger of the old Terranova S.A. and the old Masisa S.A. as of January 1, 2005. An ADS is equal to 50 common shares. (2): As % of Net Income for the quarter. (3): Compared to the previous quarter. Due to rounding, numbers may not add up. To view this release in its entirety, please visit the Company's webpage at http://www.masisa.com/ 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", "projects", and similar expressions. Statements regarding future market share, projected future competitive strength, the implementation of relevant operating and financing strategies, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or operating results 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. DATASOURCE: MASISA S.A. CONTACT: Emilio Pellegrini of MASISA S.A., Investor Relations, +562-350- 6038, , or Melanie Carpenter, +1-212-406-3694 or Peter Majeski, +1-212-406-3692, both of i-advize Corporate Communications, Inc., Web site: http://www.masisa.com/

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