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Friday, July 22, 2011

Temple-Inland Reports Second Quarter 2011 Results

 Doyle R. Simons, chairman and chief executive officer of Temple-Inland Inc., said, "We had another very good quarter, as our employees again delivered solid operating results. We also generated strong cash from operations of $121 million. Our net debt at second quarter end was $690 million, down $47 million from first quarter end net debt of $737 million. 

"In Building Products, we generated positive EBITDA in the quarter despite depressed housing markets.

Building Products

Second Quarter     First Quarter
                                         ---------------   -------------
                                         2011     2010          2011
                                         ----   -------    -------------

Segment Operating Income ($ in Millions) ($8)      $15          ($6)

Building Products operating results declined in second quarter 2011 compared with first quarter 2011 as lower lumber prices and gypsum volumes more than offset higher gypsum prices. Operating results declined in second quarter 2011 compared with second quarter 2010 primarily due to lower lumber prices and lower gypsum volumes.

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