EXHIBIT 8.1



|                                                     |  |                          |  |                 
|---------------------------------------------------- |  | ------------------------ |  | ----------------
|                                                     |  | Country of incorporation |  | Total stock held
|Agenciamiento y Servicios Profesionales S.A. de C.V. |  | Mexico                   |  | 99.9990%        
|Alto Paraná S.A.                                     |  | Argentina                |  | 99.9801         
|Arauco Australia Pty Ltd.                            |  | Australia                |  | 99.9990         
|Arauco Bioenergía S.A.                               |  | Chile                    |  | 99.9985         
|Arauco Canada Panels ULC                             |  | Canada                   |  | 99.9990         
|Arauco Colombia S.A.                                 |  | Colombia                 |  | 99.9980         
|Arauco Distribución S.A.                             |  | Chile                    |  | 99.9992         
|Arauco do Brasil S.A.(ex-Placas do Paraná S.A.)      |  | Brazil                   |  | 99.9985         
|Arauco Florestal Arapoti S.A.                        |  | Brazil                   |  | 79,9992         
|Arauco Forest Brasil S.A.                            |  | Brazil                   |  | 99.9999         
|Arauco Forest Products B.V.                          |  | The Netherlands          |  | 99.9990         
|Arauco Holanda Cooperatief U.A.                      |  | The Netherlands          |  | 99.9990         
|Arauco Panels USA LLC                                |  | U.S.A.                   |  | 99.9990         
|Arauco Perú S.A.                                     |  | Peru                     |  | 99.9990         
|Arauco Wood Products, Inc.                           |  | U.S.A.                   |  | 99.9985         
|Araucomex S.A. de C.V.                               |  | Mexico                   |  | 99.9990         
|Aserraderos Arauco S.A.                              |  | Chile                    |  | 99.9992         
|Bosques Arauco S.A.                                  |  | Chile                    |  | 99.9256         
|Catan Empreendimentos e Participacoes S.A.           |  | Brazil                   |  | 99.9934         
|Controladora de Plagas Forestales S.A.               |  | Chile                    |  | 59.6326         
|Empreendimentos Florestais Santa Cruz Ltda.          |  | Brazil                   |  | 99.9789         
|Flakeboard America Limited                           |  | U.S.A.                   |  | 99.9990         
|Flakeboard Company Limited                           |  | U.S.A.                   |  | 99.9990         
|Forestal Arauco S.A.                                 |  | Chile                    |  | 99.9248         
|Forestal Celco S.A.                                  |  | Chile                    |  | 99.9256         
|Forestal Concepción                                  |  | Panama                   |  | 99.9986         
|Forestal Cholguán S.A.                               |  | Chile                    |  | 97.4281         
|Forestal Los Lagos S.A.                              |  | Chile                    |  | 79.9405         
|Forestal Nuestra Señora del Carmen S.A.              |  | Argentina                |  | 99.9805         
|Forestal Talavera S.A.                               |  | Argentina                |  | 99.9942         
|Forestal Valdivia S.A.                               |  | Chile                    |  | 99.9256         
|Greenagro S.A.                                       |  | Argentina                |  | 97.9805         
|Inversiones Arauco Internacional Ltda.               |  | Chile                    |  | 99.9990         
|Investigaciones Forestales Bioforest S.A.            |  | Chile                    |  | 99.9256         
|Leasing Forestal S.A.                                |  | Argentina                |  | 99.9801         
|Mahal Empreendimentos e Participacoes S.A.           |  | Brazil                   |  | 99.9932         
|Paneles Arauco S.A.                                  |  | Chile                    |  | 99.9992         
|Savitar S.A.                                         |  | Argentina                |  | 99.9931         
|Servicios Logísticos Arauco S.A.                     |  | Chile                    |  | 99.9995