<PAGE>

                                    UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C.  20549

                                      FORM 10-Q



(X)      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                    For the quarterly period ended March 31, 1997

                                          OR

( )      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                            Commission file number 0-24976


                             CROWN PACIFIC PARTNERS, L.P.
                (Exact name of registrant as specified in its charter)


                   Delaware                      93-1161833
         (State or other jurisdiction of         (I.R.S. Employer
         incorporation or organization)           Identification No.)


                         121 S.W. Morrison Street, Suite 1500
                                Portland, Oregon 97204
                  (Address of principal executive office, Zip Code)

                                    (503) 274-2300
                 (Registrant's telephone number including area code)

    Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

    Yes   X                            No
        -----                            -----


<PAGE>

                            PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


                             CROWN PACIFIC PARTNERS, L.P.


                           CONSOLIDATED STATEMENT OF INCOME
                    (IN THOUSANDS, EXCEPT UNIT AND PER UNIT DATA)
                                     (UNAUDITED)


<TABLE>
<CAPTION>


                                                                   FOR THE THREE MONTHS ENDED
                                                                           MARCH 31,
                                                                      1997            1996
                                                                 --------------  --------------
<S>                                                              <C>             <C>

Revenues ................................................        $    117,391    $    84,555

Operating costs:
 Cost of products sold ..................................              94,171         66,882
 Selling, general and administrative expenses ...........               6,720          5,312
                                                                 --------------  --------------

Operating income ........................................              16,500         12,361

Interest Expense ........................................               9,479          8,245
Amortization of debt issuance costs .....................                 182            126
Other expense (income), net .............................                 142           (174)
                                                                 --------------  --------------

Net income ..............................................        $      6,697    $     4,164
                                                                 --------------  --------------
                                                                 --------------  --------------

Net income per Unit .....................................        $       0.24    $      0.23
                                                                 --------------  --------------
                                                                 --------------  --------------

Weighted average Units outstanding ......................          27,104,277     18,133,527
                                                                 --------------  --------------
                                                                 --------------  --------------




Cash flow (1) ...........................................        $     25,523    $    21,414
                                                                 --------------  --------------
                                                                 --------------  --------------

</TABLE>




(1) Cash flow is defined as EBITDDA, or earnings before interest, income tax, 
depreciation, depletion, and amortization.  EBITDDA is provided because 
management believes EBITDDA provides useful information for evaluating the 
Partnership's ability to service debt and support its cash distributions to 
Unitholders.

             See accompanying Notes to Consolidated Financial Statements.

                                          2


<PAGE>

                             CROWN PACIFIC PARTNERS, L.P.


                              CONSOLIDATED BALANCE SHEET
                         (IN THOUSANDS, EXCEPT FOR UNIT DATA)


                                        ASSETS

<TABLE>
<CAPTION>

                                                                    MARCH 31,     DECEMBER 31,
                                                                      1997            1996
                                                                   (UNAUDITED)
                                                                 --------------  --------------

<S>                                                              <C>             <C>
Current assets:
 Cash and cash equivalents ..............................        $     15,807    $     16,818
 Accounts receivable ....................................              54,155          42,810
 Notes receivable .......................................               3,892           5,605
 Inventories ............................................              26,706          35,746
 Deposits on timber cutting contracts ...................               4,417           4,771
 Prepaid and other current assets .......................               3,141           2,674
                                                                 --------------  --------------

   Total current assets .................................             108,118         108,424
Property, plant and equipment, net ......................              43,295          43,679
Timber, timberlands and roads, net ......................             506,759         511,869
Other assets ............................................              11,151          11,789
                                                                 --------------  --------------

   Total assets .........................................        $    669,323    $    675,761
                                                                 --------------  --------------
                                                                 --------------  --------------


                          LIABILITIES AND PARTNERS' CAPITAL

Current liabilites:
 Notes payable ..........................................        $     15,000    $     15,000
 Accounts payable .......................................               8,389          11,363
 Accrued expenses .......................................               9,988          10,470
 Accrued interest .......................................              11,032           5,369
 Current portion of long-term debt ......................               1,000           1,000
                                                                 --------------  --------------

   Total current liabilities ............................              45,409          43,202
Long-term debt ..........................................             391,000         392,000
Other non-current liabilities ...........................                 712             561
                                                                 --------------  --------------
                                                                      437,121         435,763
                                                                 --------------  --------------
Commitments and contingent liabilities

Partners' capital:
   General partners .....................................               2,632           2,708
   Limited partners (27,104,277 Units outstanding at
    March 31, 1997 and December 31, 1996) ...............             229,570         237,290
                                                                 --------------  --------------
     Total partners' capital ............................             232,202         239,998
                                                                 --------------  --------------
     Total liabilities and partners' capital ............        $    669,323    $    675,761
                                                                 --------------  --------------
                                                                 --------------  --------------

</TABLE>



             See accompanying Notes to Consolidated Financial Statements.



                                          3


<PAGE>

                          CROWN PACIFIC PARTNERS, L.P.

                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (IN THOUSANDS)
                                   (UNAUDITED)




                                                     FOR THE THREE MONTHS ENDED
                                                              MARCH 31,
                                                         1997           1996
                                                    ------------   ------------

Cash flows from operating activities:
  Net income . . . . . . . . . . . . . . . . . . . .    $  6,697       $  4,164
  Adjustments to reconcile net income to
   net cash provided by operating activities:
    Depletion, depreciation and amortization . . . .       9,347          9,005
    Loss (gain) on sale of property. . . . . . . . .          44         (2,073)
    Other. . . . . . . . . . . . . . . . . . . . . .        (232)             1
  Net change in current assets and current
   liabilities:
    Accounts and notes receivable. . . . . . . . . .      (6,498)        (2,758)
    Inventories. . . . . . . . . . . . . . . . . . .       3,904          2,271
    Deposits on timber cutting contracts . . . . . .         354          1,209
    Prepaid and other current assets . . . . . . . .        (442)          (328)
    Accounts payable and accrued expenses. . . . . .       2,357          8,725
                                                        --------       --------
Net cash provided by operating activities. . . . . .      15,531         20,216
                                                        --------       --------

Cash flows from investing activities:
  Additions to timberlands . . . . . . . . . . . . .      (1,577)        (2,924)
  Additions to timber cutting rights . . . . . . . .      (1,275)       (12,842)
  Additions to equipment . . . . . . . . . . . . . .      (2,277)        (2,456)
  Proceeds from sales of property. . . . . . . . . .       1,097            979
  Principal payments received on notes . . . . . . .       3,070              -
  Other investing activities . . . . . . . . . . . .          14           (116)
                                                        --------       --------
Net cash used in investing activities. . . . . . . .        (948)       (17,359)
                                                        --------       --------


Cash flows from financing activities:
  Net decrease in short-term borrowing . . . . . . .           -         (4,000)
  Proceeds from issuance of long-term debt . . . . .           -         32,000
  Repayments of long-term debt . . . . . . . . . . .      (1,000)       (18,000)
  Distributions to partners. . . . . . . . . . . . .     (14,492)        (9,436)
  Other financing activities . . . . . . . . . . . .        (102)           (37)
                                                        --------       --------
Net cash (used in) provided by financing activities.     (15,594)           527
                                                        --------       --------

Net (decrease) increase in cash and cash equivalents      (1,011)         3,384
Cash and cash equivalents at beginning of period . .      16,818         10,292
                                                        --------       --------

Cash and cash equivalents at end of period . . . . .    $ 15,807       $ 13,676
                                                        --------       --------
                                                        --------       --------


          See accompanying Notes to Consolidated Financial Statements.

                                       4


<PAGE>

                             CROWN PACIFIC PARTNERS, L.P.
                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                     (UNAUDITED)

1.  ORGANIZATION AND BASIS OF PRESENTATION

    Crown Pacific Partners, L.P. (the "Partnership"), a Delaware limited
partnership, through its 99% owned subsidiary, Crown Pacific Limited Partnership
(the "Operating Partnership"), was formed in 1994 to acquire, own and operate
timberlands and wood product manufacturing assets located in the Northwest
United States.  The Partnership's business consists primarily of growing and
harvesting timber for sale as logs in domestic and export markets and the
manufacturing and selling of lumber and other wood products.

    Crown Pacific Management Limited Partnership (the "Managing General
Partner") manages the businesses of the Partnership and the Operating
Partnership.  The Managing General Partner owns a 0.99% general partner interest
in the Partnership and the remaining 1% general partner interest in the
Operating Partnership.  Crown Pacific, Ltd. ("CPL"), the Special General Partner
of the Partnership, and the Managing General Partner comprise the General
Partners of the Partnership.  The Special General Partner owns a 0.01% general
partner interest and a 10% limited partnership interest in the Partnership.  All
management decisions related to the Partnership are made by the Managing General
Partner.  Unitholders have voting rights for certain issues as outlined in the
Partnership Agreement.  "Partnership" and "Crown Pacific" refer to the
Partnership and the Operating Partnership taken as a whole.

    The accompanying financial statements reflect the consolidated financial
position, results of operations and cash flows of the Partnership. The
consolidated financial statements include all the accounts of the Partnership.
All significant intercompany transactions have been eliminated.

    The financial statements included in this Form 10-Q are unaudited and do
not contain all of the information required by generally accepted accounting
principles to be included in a full set of financial  statements.   The
financial  statements in  the Partnership's 1996 annual report on Form 10-K
include a summary of significant accounting policies of the Partnership and
should be read in conjunction with this Form 10-Q.  In the opinion of
management, all material adjustments necessary to present fairly the results of
operations for the three months ended March 31, 1997 and 1996 have been
included.  All such adjustments are of a normal and recurring nature. The
results of operations for any interim period are not necessarily indicative of
the results of operations for the entire year.

    The taxable income, deductions, and credits of the Partnership are
allocated to the Unitholders based on the number of Units held, purchase price
and the holding period.  Distributions of cash to a Unitholder are considered a
non-taxable return of capital to the extent of the Unitholder's basis in the
Units (as such basis is increased by the allocable share of the Partnership's
income).  Any such distributions in excess of the Unitholder's basis in the
Units will result in gain recognition.  Unitholders are required to include in
their income tax filings their allocable share of the Partnership's taxable
income, substantially all of which is expected to be characterized as capital
gain, regardless of whether cash distributions are made.  For tax


                                          5

<PAGE>

exempt entities, such as IRAs, a portion of the Partnership's taxable income is
treated as Unrelated Business Taxable Income ("UBTI").  To the extent a tax
exempt entity has more than $1,000 of UBTI, it may be required to pay federal
income taxes.

    Net income per Unit was calculated using the weighted average number of
Common and Subordinated Units outstanding divided into net income, after
adjusting for the General Partner interest.  The General partner income
allocation was $67,000 and $42,000 for the three months ended March 31, 1997 and
1996, respectively.  The Partnership will adopt Statement of Financial
Accounting Standards No. 128 "Earnings Per Share" in 1997.  The effect of
adoption of such pronouncement is expected to be immaterial to the financial
statements taken as a whole.

2.  INVENTORIES

Inventories consisted of the following (in thousands):

                                              MARCH 31,    DECEMBER 31,
                                               1997            1996
                                          -----------------------------
                        Finished goods       $  8,071      $  9,068
                        Work-in-process             -         6,417
                        Logs                   15,155        16,123
                        Supplies                1,226         1,534
                        LIFO effect             2,254         2,604
                                          -----------------------------
                            Total           $  26,706     $  35,746
                                          -----------------------------
                                          -----------------------------

3.  NOTES PAYABLE

    On March 31, 1997, Crown Pacific renegotiated its Working Capital and
Acquisition Credit Facilities with its lenders.  Under the terms of the 
amendments to these agreements, certain loan fees and rates have been reduced to
terms more favorable to the Partnership.

4.  ASSET DISPOSITIONS

    In March 1997, Crown Pacific sold substantially all of the assets of its
Redmond, Oregon remanufacturing facility for $7.4 million.  In conjunction with
the sale, the Partnership entered into a long-term supply agreement with the
purchaser for lumber at market value.  Proceeds from the sale of these assets 
are expected to be used to fund a portion of the Partnership's mill expansion 
and capital improvement program.

5.  CONSENT SOLICITATION

    In March 1997, Crown Pacific successfully concluded a consent solicitation
of its Unitholders to amend its Partnership Agreement to increase the number of
Common Units available for issuance by 20 million.  Such Units may be sold from
time to time in the future.


                                          6

<PAGE>

The Partnership intends to use the proceeds from potential sales of such Units
to finance acquisitions.

6.  SUBSEQUENT EVENT

    On April 22, 1997, the Board of Control of the Managing General Partner 
authorized the Partnership to make a distribution of $0.538 per Unit, the 
Second Target Distribution as defined by the Partnership Agreement.  The 
total distribution will be $14.88 million (including $.15 million to the 
General Partners) and will be paid on May 15, 1997 to Unitholders of record 
on May 5, 1997.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS.

    Crown Pacific's principal operations consist of the growing and harvesting
of timber, the sale of logs and the processing and sale of lumber and other wood
products.  The Partnership's ability to implement its business strategy over the
long term and its results of operations depend upon a number of factors, many of
which are beyond its control.  These factors include general industry
conditions, domestic and international prices and supply and demand for logs,
lumber and other wood products, seasonality and competition from other supplying
regions and substitute products.

FINANCIAL CONDITION

    LIQUIDITY AND CAPITAL RESOURCES.  The Partnership's primary source of
liquidity has been cash provided by operations.  Combined accounts and notes
receivable increased during the three months ended March 31, 1997 primarily due
to increased sales during that quarter and a $6.8 million receivable generated
by the sale of the Partnership's Redmond, Oregon remanufacturing facility in
March 1997.  The Partnership's inventories and accounts payable decreased 
during the first quarter of 1997 as a result of the sale of the 
remanufacturing facility. Increases in accrued interest expense relate to 
timing differences in payment dates of interest on the Partnership's Senior 
Notes.

    Property, plant and equipment decreased slightly during the first quarter 
of 1997.  Capital expenditures for property, plant and eqiupment were $2.3 
million and were primarily for improvements increasing capacities and 
efficiency at the Partnership's sawmills. These increases were offset by 
depreciation and the disposition of the remanufacturing facility during the 
quarter.

    Timber, timberlands and roads decreased $5.1 million during the first
quarter of 1997.  This net decrease related to depletion and amortization, which
was partially offset by related capital expenditures of $2.9 million during the
quarter.  Capital expenditures during the quarter were funded by proceeds from
property sales, note collections and cash provided by operations.

    Cash required to meet the Partnership's quarterly cash distributions (as
required by the Partnership Agreement), to pay capital expenditures and to
satisfy interest and principal payments on indebtedness will be significant.
The Managing General Partner expects that the


                                          7

<PAGE>

debt service will be funded from current operations.  The Partnership expects 
to make cash distributions from current funds and cash generated from 
operations. Capital expenditures are expected to be funded by current funds, 
cash generated from operations, property sales, and/or bank borrowings.  On 
May 12, 1997, the Partnership announced its plans to build a new $12 million 
high technology studmill in Port Angeles, Washington. Construction of the new 
mill will begin after engineering studies are completed and final board 
approval is obtained. The mill is expected to be financed using proceeds from 
property sales, or debt or both and will be completed in 1998.  Capital 
expenditures, excluding purchases of timber and timberlands, the purchases of 
businesses,  and any costs incurred in connection with the new studmill are 
expected to be approximately $15.0 million in 1997.

    FORWARD-LOOKING STATEMENTS. The information contained in this report 
includes certain forward-looking statements that are based on assumptions 
that in the future may prove not to be accurate. Those statements, and Crown 
Pacific Partners, L.P.'s business and prospects are subject to a number of 
risks, including the volatility of timber and lumber prices, factors limiting 
harvesting of timber including contractual obligations, weather and access 
limitations, the substantial capital expenditures required to supply its 
operations, environmental risks, operating risks normally associated with the 
timber industry, competition, government regulation, the value of the U.S. 
dollar against foreign currencies such as the Japanese yen, and the ability 
of the Partnership to implement its business strategy. These and other risks 
are described in the Partnership's reports and registration statements that 
are available from the United States Securities and Exchange Commission.

    RESULTS OF OPERATIONS (THREE MONTHS ENDED MARCH 31, 1997 COMPARED TO THREE
MONTHS ENDED MARCH 31, 1996)

    Net sales during the first quarter ended March 31, 1997 increased 38.8% 
to $117.4 million, from $84.6 million in the first quarter in 1996.  The 
$32.8 million increase was principally due to $25.9 million of sales from the 
wholesale operation, which was acquired in September 1996, higher prices for 
lumber products and increased sales volumes in most of the Partnership's 
regions and product lines. Sales increases in 1997 were partially offset by 
the closure of mills and decreases in prices of wood chips and other 
residuals.

    Lumber sales, excluding sales from the wholesale operation, represented
43.6% of sales in the first quarter of 1997, compared to 49.4% in the same
quarter in 1996.  External lumber prices in the Oregon and Inland regions
increased 12.5% and 26.1%, respectively, for the first quarter of 1997 from
prices experienced in the same quarter of 1996.  Price increases were due to
strong U.S. housing and residential and commercial remodeling markets.

    Total lumber sales volumes, excluding sales from the wholesale operation, 
decreased 1.1% in the first quarter of 1997, compared to the same period in 
1996. Sales volumes of Oregon lumber increased 7.7% to 33.8 MMBF in 
the 1997 quarter, compared to 31.4 MMBF in the 1996 quarter.  Volume 
increases in the Oregon region were due to increases in capacity at the 
Partnership's Gilchrist and Prineville, Oregon facilities during the 1997 
period.  Lumber sales volumes in the Inland region decreased by 17.8% to 50.7 
MMBF in the first quarter of 1997 primarily due to the closure of the Albeni 
Falls, Idaho sawmill in June 1996.  Sales volumes of lumber from the 
Partnership's studmill in Marysville, Washington, acquired in September 1996, 
were 7.5 MMBF during the first quarter of 1997.  Lumber sales volumes are 
expected to remain stable during the remainder of 1997 as housing markets 
remain strong and interest rates, although increasing, remain favorable to 
the housing industry.

    Log sales represented approximately 21.8% of sales in the first quarter of
1997, compared to 28.0% in the same quarter of 1996.  Sales prices for external
logs sold domestically increased 16.0% over the 1996 quarter.  Increases in
pricing were primarily due to higher hemlock and cedar prices in the Washington
region.  Log sales volumes decreased 10.1% in the first quarter of 1997.
Decreases in sales volumes were attributed to reduced sales from the 
Partnership's Inland region in the 1997 quarter.  Sales volume decreases in 
the Inland region were partially offset by sales of logs from the former 
Cavenham timberlands in the Olympic Tree Farm acquired in May 1996.

    Sales of logs to customers involved in exporting activities (included in
log sales amounts above) were approximately $5.7 million, or 4.9% of sales in
the first quarter of 1997, compared to $4.5 million, or 5.3% of sales for the
same quarter in 1996.  Prices received for export logs decreased 6.2% and sales
volumes increased 35.3% in the first quarter of 1997 compared to the


                                          8

<PAGE>

same quarter in 1996.  Price decreases resulted primarily from changes in
species mix and declines in the value of the Japanese yen against the U.S. 
dollar.  Sales volumes increased as a result of log sales from the former 
Cavenham timberlands in the Olympic Tree Farm acquired in May 1996.

    Sales from the Partnership's wholesale operations acquired in September
1996 consisted of lumber and other wood products and represented 22.0% of 
sales in the first quarter of 1997.

    Sales of millwork products from the Partnership's remanufacturing facility
were 7.9% of sales in the first quarter of 1997, compared to 8.4% in the same
quarter in 1996.  The remanufacturing facility was sold on March 31, 1997.

    There were no significant sales of timberlands in the first quarter of
1997, compared to $2.5 million in the first quarter of 1996, which resulted in a
$2.0 million gain.

    By-product and other revenues accounted for 4.6% of sales in the first
quarter of 1997, compared to 8.2% in the same quarter in 1996.  Decreases relate
primarily to a 45% decrease in the price of wood chips in the 1997 period,
compared to the first quarter of 1996.

    Cost of sales as a percentage of sales increased slightly to 80.2% in the
first quarter of 1997, compared to 79.1% in the same quarter in 1996.  Higher 
margin sales for the Partnership's lumber and log products in the first quarter
of 1997, compared to the first quarter in 1996, were offset by lower margin
sales from the Partnership's wholesale operation.  Without the effect of sales 
from the wholesale operation, cost of sales would have been 75.6% of total 
sales, reflecting higher product prices and the closure of the marginal Albeni 
Falls and plywood operations.

    Selling, general and administrative expenses increased $1.4 million in the
first quarter of 1997, from $5.3 million in the first quarter in 1996.  Selling,
general and administrative expenses represented 5.7% of sales in the first
quarter of 1997 and 6.3% of sales in the same quarter of 1996.  The increase 
in dollar amount was principally due to increased salaries, wages and 
benefits needed to support the current level of sales and marketing expenses 
associated with the Partnership's wholesale operation acquired in September 
1996.

    Interest expense increased $1.2 million in the first quarter of 1997, from
$8.2 million in the same quarter in 1996 due to increases in long-term debt
related to the acquisition of the Cavenham timberlands in May 1996.

    The Partnership pays no significant income taxes and does not include a
provision for income taxes in its financial statements.

    Weighted average Units outstanding in the first quarter of 1997 increased
by 8.97 million due to the Partnership's public offering and sale of Common
Units in August 1996.


                                          9

<PAGE>

    PART II. OTHER INFORMATION


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

    A.   Exhibits

    3.1  First Amendment to Second Amended and Restated Agreement of Limited
         Partnership of Crown Pacific Partners, L.P.

    4.1  Second Amendment to Amended and Restated Credit Agreement dated as of
         July 31, 1996.

    4.2  First Amendment to Amended and Restated Credit Agreement B dated as
         of July 31, 1996.

   10.1  Agreement for the Sale and Purchase of Business Assets dated 
         March 28, 1997 between Registrant and Team Millwork, LLC.

   10.2  Lumber Supply Agreement dated March 28, 1997 between Registrant and 
         team Millwork, LLC.

    B.   Reports on Form 8-K

         None

Items 1, 2, 3, and 4 of Part II were not applicable and have been omitted.


                                          10

<PAGE>

                                      SIGNATURE

    Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


                   CROWN PACIFIC PARTNERS, L.P.
                   ----------------------------
                           (Registrant)

                   By:     Crown Pacific Management
                           Limited Partnership,
                           as General Partner


                   By:  /s/Richard D. Snyder
                      -------------------------------------------
                      Vice President and Chief Financial Officer
                      (Duly Authorized Officer and Principal Financial Officer)


                                          11