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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1391390	Boise Inc.	BZ	Papers & Allied Products (2600)	208356960

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1245966	S Thomas Souleles	Madison Dearborn Partners, Llc Three First National Plaza, Suite 4600 Chicago IL 60602		Yes	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-02-16	275,000	$4.74	18,036,910	No	4	S	Indirect	Boise Cascade Holdings, L.L.C., et. al - See Footnote
Common Stock	Disposition	2010-02-17	150,000	$4.83	17,886,910	No	4	S	Indirect	Boise Cascade Holdings, L.L.C., et. al - See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	Boise Cascade Holdings, L.L.C., et. al - See Footnote
No	4	S	Indirect	Boise Cascade Holdings, L.L.C., et. al - See Footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	36,100	Direct

Footnotes

The transactions reported in this Form 4 were effected pursuant to a Sales Plan adopted on December 14, 2009, by Boise Cascade Holdings, L.L.C. ("BCH") pursuant to Rule 10b5-1, with sales commencing on February 16, 2010.
BCH is the record owner of the common shares set forth herein. The shares held by BCH may be deemed to be beneficially owned by Forest Products Holdings, L.L.C. ("FPH"), which is controlled by Madison Dearborn Capital Partners IV, L.P. ("MDCP IV"). Madison Dearborn Partners IV, L.P. ("MDP IV"), is the general partner of MDCP IV. Mr. Souleles is a managing director of the general partner of MDP IV. Mr. Souleles expressly disclaims beneficial ownership of the shares that may be deemed to be owned by MDCP IV or MDP IV, except to the extent of his pecuniary interest therein.