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Masonite International Sells Towanda Facility.

Business Editors

TORONTO--(BUSINESS WIRE)--March 29, 2002

Masonite International Corporation (NYSE:MHM) (TSE:MHM) announced today that it has completed the sale of all of the shares of its subsidiary, Craftmaster Manufacturing, Inc. Craftmaster owns and operates a facility in

Towanda, Pennsylvania. The cash derived from Craftmaster Manufacturing, Inc. and other asset sales will be used to pay down Masonite's U.S.$100 million asset sale loan as well as other debt. This sale completes the agreement to divest the Towanda, Pennsylvania facility pursuant to the consent decree with the U.S. Department of Justice.

Masonite International Corporation is a unique, integrated, global building products company with its Corporate Headquarters in Mississauga, Ontario and its International Administrative Offices in Tampa, Florida. It operates over 70 facilities in twelve countries in North America, South America, Europe, Asia and Africa and has over 12,000 employees. The Company sells its products to customers in over 50 countries.

Masonite International Corporation

1600 Britannia Road East, Mississauga, Ontario L4W 1J2

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