EXHIBIT 8.1



|                                             |  |                              
|-------------------------------------------- |  | -----------------------------
|Subsidiaries                                 |  | Jurisdiction of Incorporation
|Agenciamiento y Servicios Profesionales S.A. |  | Mexico                       
|Alto Paraná S.A.                             |  | Argentina                    
|Arauco Denmark ApS                           |  | Denmark                      
|Arauco Distribución S.A.                     |  | Chile                        
|Arauco Ecuador S.A.                          |  | Ecuador                      
|Arauco Forest Brasil S.A.                    |  | Brazil                       
|Arauco Forest Products B.V.                  |  | The Netherlands              
|Arauco Generación S.A.                       |  | Chile                        
|Arauco Honduras S. De R.L. de C.V.           |  | Honduras                     
|Arauco Internacional S.A.                    |  | Chile                        
|Araucomex S.A. de C.V.                       |  | Mexico                       
|Arauco Perú S.A.                             |  | Peru                         
|Arauco Wood Products, Inc.                   |  | U.S.A.                       
|Aserraderos Arauco S.A.                      |  | Chile                        
|Bosques Arauco S.A.                          |  | Chile                        
|Caif S.A.                                    |  | Argentina                    
|Controladora de Plagas Forestales S.A.       |  | Chile                        
|Ecoboard S.A.                                |  | Argentina                    
|Ecoresin S.A.                                |  | Argentina                    
|Faplac S.A.                                  |  | Argentina                    
|Flooring S.A.                                |  | Argentina                    
|Forestal Arauco S.A.                         |  | Chile                        
|Forestal Arauco Costa Rica S.A.              |  | Costa Rica                   
|Forestal Arauco Guatemala S.A.               |  | Guatemala                    
|Forestal Celco S.A.                          |  | Chile                        
|Forestal Cholguán S.A.                       |  | Chile                        
|Forestal Concepción S.A.                     |  | Panama                       
|Forestal Conosur S.A.                        |  | Uruguay                      
|Forestal Los Lagos S.A.                      |  | Chile                        
|Forestal Misiones S.A.                       |  | Argentina                    
|Forestal Valdivia S.A.                       |  | Chile                        
|Industrias Forestales S.A.                   |  | Argentina                    
|Inversiones Celco S.L.                       |  | Spain                        
|Investigaciones Forestales Bioforest S.A .   |  | Chile                        
|La Señora del Milagro S.R.L.                 |  | Argentina                    
|Molduras Trupán S.A                          |  | Chile                        
|Paneles Arauco S.A.                          |  | Chile                        
|Placas do Paraná S.A.                        |  | Brazil                       
|Servicios Logísticos Arauco S.A.             |  | Chile                        
|Southwoods Arauco Lumber LLC                 |  | U.S.A.                       
|Trupán Argentina S.A.                        |  | Argentina