Sino-Forest Revises Investment Advisory That Included Macquarie

Toronto, Canada, 15 January 2007 -– In its press release dated 12 January 2007, Sino-ForestCorporation (TSX:TRE and TRE.S) announced that it had been approached by various parties with respect to the possible investment in, or acquisition of, Sino-Forest. One of those parties was a consortium comprised of CVC Asia Pacific Ltd. and Macquarie Bank Ltd. Sino-Forest today announced today that it received a letter from Macquarie (Hong Kong) Limited indicating that Macquarie did not intend to submit a proposal to Sino-Forest. Sino-Forest believes that the Macquarie letter also represents the intention of CVC Asia Pacific as a member of the Macquarie consortium.

About Sino-Forest Corporation

Sino-Forest is the leading, foreign-owned, commercial forestry plantation operator in China in terms of plantation area. The corporation cultivates trees for sale as standing timber and wood chips, and is involved in the trading and manufacturing of wood chips, logs and engineered wood products for the pulp & paper, furniture, construction and decoration industries. Sino-Forest is a Canadian corporation with executive offices in Hong Kong and operations in southern China. It operates mainly through three wholly-owned subsidiaries: Sino-Wood Partners Limited, Sino-Panel Holdings Limited, and Sino-Global Holdings Inc. Sino-Forest's common shares have traded on the Toronto Stock Exchange under the symbol TRE since 1995.