Cathay Forest Announces New Board Member

TORONTO, ONTARIO, Jun 30 (MARKET WIRE) --
Cathay Forest Products Corp. (TSX VENTURE: CFZ) ("Cathay Forest") today
announces that at its Annual General Meeting held on June 25, 2009, John
Duncanson was elected as a director of Cathay Forest. With the addition
of Mr. Duncanson to the board of directors there will now be seven
directors as all incumbents were re-elected to serve for another term. In
addition to Mr. Duncanson the directors of Cathay Forest are John
Housser, Raymond Lo, Stephen Miller, Anthony Ng, John Reynolds and Paul
Wong.

A registered professional forester and an ISO 10000 auditor with over 35
years of forest industry experience, Mr. Duncanson is currently an
independent forest consultant with clients that include several large
international forestry companies. He is also President of Duncanson
Investment Research Inc., a provider of independent investment advice to
money managers and institutional clients. Mr. Duncanson brings several
years of experience working in Asia, Europe and South America in addition
to his North America experience.

About Cathay Forest Products

Cathay Forest is a forest products company that manages approximately
1,000,000 hectares of standing timber properties and fast-growth,
high-yield poplar plantations in China and Russia. Cathay Forest is
building a world-class forest products company through a customer base
that includes the domestic Chinese pulp and paper industry and other wood
products customers in the Japanese market.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding the
future plans and objectives of Cathay Forest. Actual results and future
events could differ materially from those anticipated in such statements.
Except as required under applicable securities laws, Cathay Forest
assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.

The TSX
Venture Exchange has not reviewed and does not accept responsibility for
the adequacy of this release.

Contacts:
Cathay Forest Products Corp.
Ermo Ou
Vice President, Corporate Planning
(416) 226-7269
ermo.ou@cathayforest.com

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