Tolko Takes Over Riverside

News Release

Tolko Industries Ltd. (Tolko) has responded to the announcement that the Board of Directors of Riverside Forest Products Limited (Riverside) is recommending to their shareholders that they tender their shares to Tolko's all-cash offer of $40.00 per share.

Trevor Jahnig, Tolko's Vice-President of Finance & CFO said: "We are very
pleased that Riverside's Board is supporting our bid. As I have said before,
we believe Tolko is the strategic buyer and the combination of Tolko and
Riverside is the best fit for the assets, the employees, the communities and
the utilization of the forest resource."

"Riverside's management has indicated that they will work with Tolko to
ensure a smooth transition and we are looking forward to working together
during the transition period."

"Tolko's offer expires at 12:05 am on Tuesday, October 26, 2004," said
Jahnig. "This means shareholders effectively must tender their shares no later than the end of the day on Monday, October 25, 2004."

Editor's note: Riverside had been entertaining a takeover bid by INTERFOR but it withdrew the offer last week because it couldn't match Tolko's bid at $40 a share.