<PAGE>

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                                    UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION

                               WASHINGTON, D.C.  20549
                                           
                           -------------------------

                                   FORM 10-Q
                                   
                           -------------------------
                                             
       (Mark One)
   [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES  
                                EXCHANGE ACT OF 1934
                  For the quarterly period ended September 30, 1997
                                          OR
   [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                                 EXCHANGE ACT OF 1934
                           For the transition period from _____ to  _____
                                           
                            Commission file number 0-24976
                                                       
                           -------------------------

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

<TABLE>
<CAPTION>


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

121 SW Morrison Street, Suite 1500, Portland, Oregon                                97204
     (Address of principal executive offices)                                     (Zip Code)


                      Registrant's telephone number, including area code:  503-274-2300

</TABLE>

                           -------------------------

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        
                              ---------              --------

Indicate the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date.

                  Common Units                           27,104,277
                   (Class)                    (Outstanding at November 4, 1997)
               
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<PAGE>

                             CROWN PACIFIC PARTNERS, L.P.
                                      FORM 10-Q
                                        INDEX 
                                           

<TABLE>
<CAPTION>

PART I - FINANCIAL INFORMATION                                                              Page
------------------------------
<S>            <C>                                                                          <C>    
Item 1.        Financial Statements

               Consolidated Statements of Income - Three Month and Nine Month 
               Periods Ended September 30, 1997 and 1996                                     2

               Consolidated Balance Sheets -September 30, 1997 and December 31, 
               1996                                                                          4

               Consolidated Statements of Cash Flows - Nine Months Ended 
               September 30, 1997 and 1996                                                   5

               Notes to Consolidated Financial Statements                                    6

Item 2.        Management's Discussion and Analysis of Financial Condition and
               Results of Operations                                                         8


PART II - OTHER INFORMATION
---------------------------

Item 6.        Exhibits and Reports on Form 8-K                                              15

Signature                                                                                    16


</TABLE>

                                       1

<PAGE>
                              PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                              CROWN PACIFIC PARTNERS, L.P.

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

                                                     FOR THE THREE MONTHS ENDED
                                                             SEPTEMBER 30,
                                                         1997           1996
                                                     -----------    ------------
Revenues .........................................   $   121,274    $   108,813 

Operating costs:
  Cost of products sold ..........................        99,474         87,936 
  Selling, general and administrative expenses....         5,194          4,380 
                                                     -----------    ------------

Operating income .................................        16,606         16,497 

Interest expense .................................         9,410         10,833 
Amortization of debt issuance costs ..............           185            170 
Other (income) expense, net ......................           245           (413)
                                                     -----------    ------------

Net income .......................................   $     6,766    $     5,907 
                                                     -----------    ------------
                                                     -----------    ------------

Net income per Unit* .............................   $      0.25    $      0.25 
                                                     -----------    ------------
                                                     -----------    ------------

Weighted average Units outstanding ...............    27,104,277     23,313,960 
                                                     -----------    ------------
                                                     -----------    ------------



Cash flow** ......................................   $    30,628    $    29,412 
                                                     -----------    ------------
                                                     -----------    ------------




  *Net income per Unit is calculated based on weighted average units outstanding
   after deducting the General Partners' allocation of net income.

 **Cash flow is defined as EBITDDA or earnings before interest, income taxes,
   depreciation, depletion, and amortization. EBITDDA is provided because 
   management  believes  EBITDDA  provides useful information for evaluating the
   Company'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 STATEMENTS OF INCOME
                        (IN THOUSANDS, EXCEPT UNIT AND PER UNIT DATA)
                                      (UNAUDITED)

<TABLE>
<CAPTION>

                                                             FOR THE NINE MONTHS ENDED
                                                                    SEPTEMBER 30,
                                                                 1997           1996
                                                              ----------    -----------
<S>                                                           <C>           <C>
Revenues ..............................................       $  364,092    $   289,450 

Operating costs:
  Cost of products sold ...............................          295,398        231,084 
  Selling, general and administrative expenses ........           18,897         14,301 
                                                              ----------    -----------

Operating income ......................................           49,797         44,065 

Interest expense ......................................           28,194         29,387 
Amortization of debt issuance costs ...................              550            451 
Other income, net .....................................              220           (287)
                                                              ----------    -----------

Net income ............................................        $  20,833    $    14,514 
                                                              ----------    -----------
                                                              ----------    -----------

Net income per Unit* ..................................          $  0.76    $      0.72 
                                                              ----------    -----------
                                                              ----------    -----------

Weighted average Units outstanding ....................       27,104,277     19,872,943
                                                              ----------    -----------
                                                              ----------    -----------



Cash flow** ...........................................        $  81,571    $    75,134 
                                                              ----------    -----------
                                                              ----------    -----------
</TABLE>

  *Net income per Unit is calculated based on weighted average units outstanding
  after deducting the General Partners' allocation of net income.

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

         See accompanying Notes to Consolidated Financial Statements.

                                       3

<PAGE>


                              CROWN PACIFIC PARTNERS, L.P.

                              CONSOLIDATED BALANCE SHEETS
                           ( IN THOUSANDS, EXCEPT UNIT DATA)

<TABLE>
                                          ASSETS

                                                           SEPTEMBER 30,  DECEMBER 31,
                                                               1997          1996
                                                            (UNAUDITED)
                                                           ------------   -----------
<S>                                                        <C>            <C>
Current assets:
  Cash and cash equivalents ............................      $ 15,018       $ 16,818 
  Accounts receivable, net of allowances     
   of $533 and $275  ...................................        41,737         42,810
  Notes receivable .....................................         4,461          5,605
  Inventories ..........................................        43,180         35,746
  Deposits on timber cutting contracts .................         6,414          4,771
  Prepaid and other current assets .....................         2,483          2,674
                                                             ---------       --------

     Total current assets ..............................       113,293        108,424
Property, plant and equipment, net of
  accumulated depreciation of $22,817 and 
  $19,927...............................................        46,887         43,679
Timber, timberlands and roads, net .....................       515,961        511,869
Other assets ...........................................        10,594         11,789
                                                             ---------       --------

     Total assets ......................................      $686,735       $675,761 
                                                             ---------       --------
                                                             ---------       --------

                    LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
  Notes payable ........................................      $ 11,500       $ 15,000 
  Accounts payable .....................................        17,238         11,363
  Accrued expenses .....................................        21,495         10,470
  Accrued interest .....................................        11,242          5,369
  Current portion of long-term debt ....................         1,000          1,000
                                                             ---------       --------

     Total current liabilities .........................        62,475         43,202
Long-term debt  ........................................       407,500        392,000
Other non-current liabilities  .........................           407            561
                                                             ---------       --------
                                                               470,382        435,763
                                                             ---------       --------

Commitments and contingent liabilities

Partners' capital:
    General partners ...................................         2,323          2,708
    Limited partners (27,104,277 Units outstanding at  
     September 30, 1997 and December 31, 1996)..........       214,030        237,290
                                                             ---------       --------
      Total partners' capital ..........................       216,353        239,998
                                                             ---------       --------

      Total liabilities and partners' capital ..........      $686,735       $675,761 
                                                             ---------       --------
                                                             ---------       --------

</TABLE>
         See accompanying Notes to Consolidated Financial Statements.

                                       4

<PAGE>
                              CROWN PACIFIC PARTNERS, L.P.

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

<TABLE>
<CAPTION>

                                                                      FOR THE NINE MONTHS ENDED
                                                                            SEPTEMBER 30,
                                                                          1997           1996
                                                                       ---------      ---------
<S>                                                                    <C>            <C>
Cash flows from operating activities:
  Net income ..................................................         $ 20,833      $  14,514 
  Adjustments to reconcile net income to
    net cash provided by operating activities:
      Depletion, depreciation and amortization ................           32,544         31,233 
      Gain on sale of property ................................           (1,146)        (8,545)
      Other ...................................................             (134)          (699)
  Net change in current assets and current
    liabilities:
      Accounts and notes receivable ...........................            4,396         (6,791)
      Inventories .............................................          (12,570)         7,798 
      Deposits on timber cutting contracts ....................           (1,643)         3,050 
      Prepaid and other current assets ........................              194           (300)
      Accounts payable and accrued expenses ...................           16,102         14,289 
                                                                       ---------      ---------
Net cash provided by operating activities .....................           58,576         54,549 
                                                                       ---------      ---------
                                                                       ---------      ---------

Cash flows from investing activities:
  Additions to timberlands ....................................          (19,036)      (213,201)
  Additions to timber cutting rights ..........................           (4,628)       (12,842)
  Additions to equipment ......................................           (8,362)        (8,555)
  Proceeds from sales of property .............................            1,990          6,643 
  Principal payments received on notes ........................            6,141              - 
  Purchase of businesses ......................................                -         (6,028)
  Other investing activities ..................................               53            (12)
                                                                       ---------      ---------
Net cash used in investing activities .........................          (23,842)      (233,995)
                                                                       ---------      ---------
                                                                       ---------      ---------

Cash flows from financing activities:
  Net decrease in short-term borrowings .......................           (7,500)        (5,517)
  Proceeds from issuance of long-term debt ....................           16,500        343,000 
  Repayments of long-term debt ................................           (1,000)      (276,000)
  Proceeds from sale of partnership interests .................                -        165,252 
  Distributions to partners ...................................          (44,251)       (28,830)
  Retirement of equity interests ..............................                -         (4,100)
  Debt and equity issuance costs ..............................             (131)       (10,529)
  Other financing activities ..................................             (152)          (424)
                                                                       ---------      ---------
Net cash (used in) provided by financing activities ...........          (36,534)       182,852 
                                                                       ---------      ---------

Net (decrease) increase in cash and cash equivalents ..........           (1,800)         3,406 
Cash and cash equivalents at beginning of period ..............           16,818         10,292 
                                                                       ---------      ---------

Cash and cash equivalents at end of period ....................         $ 15,018      $  13,698 
                                                                       ---------      ---------
                                                                       ---------      ---------

</TABLE>
         See accompanying Notes to Consolidated Financial Statements.

                                       5

<PAGE>

                             CROWN PACIFIC PARTNERS, L.P.
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 
          (IN THOUSANDS, EXCEPT PER UNIT AMOUNTS OR AS OTHERWISE INDICATED)
                                     (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, was formed in 1994 to acquire, own and operate timberlands and 
wood product manufacturing assets.  The Partnership's business consists 
primarily of growing and harvesting timber for sale as logs in domestic and 
export markets and the manufacture and sale of lumber and other wood products.

The financial statements included in this Form 10-Q are unaudited and reflect 
the consolidated financial position, results of operations and cash flows of 
the Partnership.  These financial statements include all the accounts of the 
Partnership but 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, which includes a summary of significant accounting policies of 
the Partnership, 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 and nine months ended September 30, 
1997 and 1996 have been included.  All such adjustments are of a normal and 
recurring nature and all significant intercompany transactions have been 
eliminated.  The results of operations for any interim period are not 
necessarily indicative of the results of operations for the entire year.
 
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 $68 and $59 for the three months ended September 30, 1997 and 
1996, respectively, and $208 and $145 for the nine months ended September 30, 
1997 and 1996, respectively.  

NOTE 2: INVENTORIES

Inventories, consisting of lumber and logs, are stated at the lower of LIFO 
cost or market.  Supplies and inventories maintained at non-manufacturing 
locations are valued at the lower of average cost or market.  Inventories 
consisted of the following:

                         September 30, 1997     December 31, 1996
                         ------------------     -----------------
Finished goods                 $13,604                $ 9,068
Work-in-process                      -                  6,417
Logs                            26,865                 16,123
Supplies                         1,057                  1,534
LIFO adjustment                  1,654                  2,604
                               -------                -------
  Total                        $43,180                $35,746
                               -------                -------
                               -------                -------

NOTE 3: NEW FACILITIES

On July 22, 1997, the Board of Control of the Managing General Partner of the 
Partnership ratified the Partnership's previously announced plans to build a 
new high-technology studmill in Port Angeles, Washington.  The Port Angeles 
mill will allow the Partnership to 

                                       6

<PAGE>

add value to the logs harvested from its Olympic Tree Farm.  Construction of 
the mill is expected to be completed in the third quarter of 1998.  Total 
costs are expected to be approximately $18 million.

On July 22, 1997, Crown Pacific announced plans to build a $17 million 
state-of-the-art sawmill at its existing mill site in Bonners Ferry, Idaho.  
The Partnership expects to gain sizable efficiency and fiber realization 
improvements from this new facility. Construction of the mill is expected to 
be completed in the third quarter of 1998. 

NOTE 4: ASSET ACQUISITIONS

In September 1997, Crown Pacific announced the acquisition of 65 thousand 
acres of timberland from Trillium Corp. of Bellingham, Washington for $153 
million. This acquisition closed on October 15, 1997.

NOTE 5: 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 to supply lumber at market prices.  Proceeds from the sale of 
these assets have been used to fund a portion of the Partnership's mill 
expansion and capital improvement program.

NOTE 6: 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.

On October 10, 1997, Crown Pacific amended its Working Capital and 
Acquisition Credit Facilities with its lenders.  Under the terms of the 
amendments to these agreements, the credit available under the Acquisition 
Facility was increased from $125 million to $150 million, the terms were 
extended to September 30, 2000, the definition for the purposes for utilizing 
the Facilities was broadened and other terms were amended to terms more 
favorable to the Partnership.

NOTE 7: DISTRIBUTIONS

In both the first and second quarters of 1997, the Board of Control of the 
Managing General Partner authorized the Partnership to make distributions of 
$0.538 per Unit, the Second Target Distribution as defined by the Partnership 
Agreement.  The distributions in each quarter totaled $14.88 million 
(including $0.30 million to the General Partners) and were made on May 15, 
1997 and August 14, 1997. 

NOTE 8: 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.  The Partnership intends to use the proceeds 
from potential sales of such Units to finance acquisitions.

                                       7

<PAGE>

NOTE 9: SHELF REGISTRATION STATEMENT 

On May 17, 1997, Crown Pacific filed a shelf registration statement on Form 
S-3 with the United States Securities and Exchange Commission (SEC) for the 
registration of 7.5 million limited partnership units which can be issued in 
an underwritten offering.  The Partnership intends to use the proceeds from 
any potential future sale of the units registered under the Form S-3 to 
finance future acquisitions. 

NOTE 10: SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental disclosure of cash flow information is as follows:

                                          Nine months ended September 30,
                                          -------------------------------
                                                 1997        1996
                                             ---------     --------
Cash paid during the period for interest     $  22,325     $20,232
Property acquired through debt               $   8,938     $     -

NOTE 11: SUBSEQUENT EVENTS

On October 21, 1997, the Board of Control 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 $.30 million to the General Partners) and will be paid on November 
14, 1997 to Unitholders of record on November 4, 1997.

In October 1997, the Partnership filed a Registration Statement on Form S-4 
with the Securities and Exchange Commission, which allows for the potential 
issuance of up to 4 million additional limited partnership units in exchange 
for assets or stock in an acquisition.

On October 10, 1997, Crown Pacific amended its Working Capital and 
Acquisition Credit Facilities with its lenders.  Under these amendments, the 
credit available under the Acquisition Facility was increased from $125 
million to $150 million, the terms of both facilities were extended to 
September 30, 2000, the purposes for which Acquisition Facility borrowings 
may be used were expanded and other terms were amended in a manner favorable 
to the Partnership.

On October 15, 1997, the Partnership closed its previously announced 
acquisition of 65 thousand acres of timberland from Trillium Corp. of 
Bellingham, Washington, for $153 million. 

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

GENERAL

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.

                                       8

<PAGE>

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.

FINANCIAL CONDITION

The Partnership's primary sources of liquidity have been cash provided by 
operating activities as well as debt and equity financings.  The increase in 
cash provided by operating activities in the first nine months of 1997 
resulted primarily from enhanced profitability and increases in accounts 
payable due to seasonal increases in log harvesting activities during the 
second and third quarters, offset by increases in inventory.

Net cash used in investing activities resulted from additions to timberlands, 
equipment and timber cutting rights, which was partially offset by proceeds 
from notes receivable and sales of properties.  

On July 22, 1997, the Board of Control of the Managing General Partner 
ratified the Partnership's previously announced plans to build a new 
high-technology studmill in Port Angeles, Washington.  The Port Angeles mill 
will allow the Partnership to add value to the logs harvested from its 
Olympic Tree Farm. Total costs are expected to be approximately $18 million.  
Also on July 22, 1997, Crown Pacific announced plans to construct a new $17 
million state-of-the-art sawmill at its existing mill site at Bonners Ferry, 
Idaho.  The Partnership believes it can realize sizable efficiency and fiber 
recovery improvements from this new facility.  Both mills are expected to be 
completed in the third quarter of 1998. 

Net cash used in financing activities resulted primarily from distributions 
to partners of $44.3 million and payments on the Partnership's working 
capital line of $7.5 million, offset by $16.5 million of proceeds from 
long-term debt.  

On October 21, 1997, the Board of Control 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 $.30 million to the General Partners) and will be paid on November 
14, 1997 to Unitholders of record on November 4, 1997.

Cash required to meet the Partnership's quarterly cash distributions (as 
required by the Partnership Agreement) to pay for capital expenditures and to 
satisfy interest and principal payments on indebtedness will be significant. 
Capital expenditures, excluding purchases of timber and timberlands, 
acquisitions of businesses and any costs incurred in connection with new 
mills, are expected to be approximately $15.0 million in 1997. The Managing 

                                       9

<PAGE>

General Partner expects that capital expenditures will be funded by current 
funds, cash generated from operations, property sales, and/or bank 
borrowings.  The new mills are expected to be financed using operating 
leases.  Debt service is expected to be funded from current operations.  The 
Partnership expects to make cash distributions from its current funds and 
cash generated from operations. Capital expenditures during the nine-month 
period were funded by property sales, proceeds from note collections and cash 
provided by operations.
               
RESULTS OF OPERATIONS (THREE MONTHS ENDED SEPTEMBER 30, 1997 COMPARED TO THREE
MONTHS ENDED SEPTEMBER 30, 1996)

Net sales during the third quarter ended September 30, 1997 increased 11.5% 
to $121.3 million, from $108.8 million in the same quarter in 1996.  The 
$12.5 million increase was principally due to $33.8 million of sales from the 
wholesale operation, which was acquired in September 1996. Sales increases 
during the third quarter of 1997 were partially offset by decreases in sales 
of plywood and remanufacturing products subsequent to the sale of associated 
facilities and decreased timberland sales in the 1997 quarter. 

Lumber sales, excluding sales from the wholesale operation, represented 40.8% 
of sales in the third quarter of 1997, compared to 36.0% of sales in the same 
quarter of 1996.  Average external prices received for lumber in the Oregon 
region decreased 8.3% and increased slightly in the Inland region, to $584 
per thousand board feet (MBF) and $466/MBF, respectively, for the third 
quarter of 1997 from prices received in the same quarter of 1996.  Prices 
received in the Inland region in the third quarter of 1997 decreased 3.5% 
from the second quarter of 1997.  The price decreases are primarily a result 
of domestic overproduction, as well as an ample supply of pine being imported 
from Chile and Mexico.  Prices are expected to decrease slightly throughout 
the fourth quarter of 1997 as the U.S. millwork industry works off existing 
inventory levels. Moderate increases are expected beginning in the early part 
of the first quarter of 1998 reflecting anticipated production decreases by 
pine producers including the Partnership.

External lumber sales volumes, excluding sales from the wholesale operation, 
increased 28.3% in the third quarter of 1997 to 96.3 million board feet 
(MMBF), compared to 75.0 MMBF in the same period of 1996.  Sales volumes of 
Oregon lumber increased 36.4% to 41.3 MMBF in the 1997 quarter due to 
increases in capacity at the Partnership's Gilchrist and Prineville, Oregon 
facilities as a result of capital improvements made in the first quarter of 
1997.  External lumber sales volumes in the Inland region increased by 5.4% 
to 46.9 MMBF in the third quarter of 1997 due to a species mix change to 
cedar and white woods, which resulted in higher production volumes.  External 
lumber sales volume from the Marysville studmill increased to 8.1 MMBF during 
the third quarter of 1997.
               
Log sales represented 25.2% of sales in the third quarter of 1997, compared to
33.2% in the same quarter of 1996.  Average external domestic prices for
merchantable logs sold in the Oregon and Inland Tree Farms decreased 17.9% and
18.1%, respectively, to $386/MBF and $417/MBF, respectively, while prices for
logs sold in the export market from the Hamilton and Olympic Tree Farms
increased 14.0% and 53.3%, respectively, to $432/MBF and $460/MBF, respectively,
over prices received in the comparable 1996 quarter.  Decreases in domestic
pricing were primarily due to the general decline in lumber and log prices and a
decrease in the sales of cedar in the Inland Tree Farm. Increases in 

                                       10

<PAGE>

export pricing primarily resulted from a shift in sales of mid-grade species 
from the export to the domestic market, elevating the export sales mix to 
higher grades, as well as a general market decline.
 
Sales of logs to customers involved in exporting activities (included in 
total log sales above) were approximately $2.7 million, or 2.2% of sales in 
the third quarter of 1997, compared to $5.3 million, or 4.9% of sales for the 
same quarter in 1996.  Prices received for export logs increased 6.1% to 
$677/MBF while sales volumes decreased 52.4% to 4.0 MMBF in the third quarter 
of 1997 from levels experienced in the same quarter of 1996.  Decreases in 
sales volumes resulted from a shift in Japanese preferences from the purchase 
of logs to the purchase of lumber products and decreased demand for the most 
expensive export-grade logs.  Over the longer term, the shift to the purchase 
of lesser-grade export logs in Japan may increase the total proportion of 
export logs sold from the Washington Tree Farms, where these lower grades are 
predominant.

Domestic log sales volumes decreased 12.1% in the third quarter of 1997 to 
61.0 MMBF, compared to 69.5 MMBF in the same quarter of 1996.  Domestic 
volumes from the Oregon and Hamilton Tree Farms increased 27.9% and 30.5%, 
respectively, to 14.7 MMBF and 7.8 MMBF, respectively, over volumes attained 
in the 1996 quarter. Domestic volumes sold from the Inland and Olympic Tree 
Farms decreased 1.8% and 55.5%, respectively, in the third quarter of 1997 to 
28.1 MMBF and 10.4 MMBF, respectively, compared to levels attained in the 
same quarter of 1996.  The overall decrease in volume primarily resulted from 
an abnormally large amount of harvest in the 1996 third quarter in order to 
catch up after poor weather conditions during the first six months of 1996, 
offset by increased stumpage sales in Oregon and Hamilton in the third 
quarter of 1997.
 
Sales from the Partnership's wholesale operations acquired in September 1996 
consisted of lumber and other wood products, most of which were not 
manufactured by the Partnership, and represented 27.9% of sales in the third 
quarter of 1997. 

Sales of timberlands were insignificant in the third quarter of 1997, 
compared to 3% of sales in the third quarter of 1996, which resulted in a 
$2.3 million gain. 

By-product and other revenues accounted for 2.8% of sales in the third 
quarter of 1997, compared to 2.6% of sales in the same quarter of 1996.  The 
increase relates primarily to a 14.6% increase in the price of wood chips in 
the 1997 period.

Cost of sales as a percentage of sales increased slightly to 82.0% in the 
third quarter of 1997, compared to 80.8% in the same quarter of 1996.  Higher 
margin sales of the Partnership's lumber and log products in the third 
quarter of 1997 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 76.3% of total sales for the third 
quarter of 1997, reflecting the disposition of the less profitable Albeni 
Falls sawmill and the Partnership's plywood and remanufacturing facilities.

Selling, general and administrative expenses increased $.8 million to $5.2 
million in the third quarter of 1997, compared to $4.4 million in the third 
quarter in 1996.  Selling, general and administrative expenses represented 
4.3% of sales in the third quarter of 1997 and

                                       11

<PAGE>

4.0% of sales in the same quarter of 1996.  Increases were primarily due 
to increased marketing expenses associated with the Partnership's wholesale 
operation and additional salaries, wages and other benefits needed to support 
the current level of sales and marketing activities.  

Interest expense decreased $1.4 million to $9.4 million in the third quarter 
of 1997, from $10.8 million in the same quarter in 1996.  Amounts in the 1996 
quarter include interest for bridge debt used to finance the purchase of the 
Olympic Tree Farm and additions to the Oregon Tree Farms 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 third quarter of 1997 increased by 
3.79 million compared to the same quarter of 1996 resulting from the 
Partnership's public offering and sale of common units in August 1996.

RESULTS OF OPERATIONS (NINE MONTHS ENDED SEPTEMBER 30, 1997 COMPARED TO NINE
MONTHS ENDED SEPTEMBER 30, 1996)

Net sales during the nine months ended September 30, 1997 increased 25.8% to 
$364.1 million, from $289.5 million in the same 1996 period.  The $74.6 
million increase was principally due to $92.4 million of sales from the 
wholesale operation, which was acquired in September 1996, and increased 
sales of lumber and log products due to higher prices during the first six 
months of the 1997 period.  Sales increases during the 1997 nine-month period 
were partially offset by decreases in plywood and millwork products 
subsequent to the sale of the associated facilities, decreased land sales and 
decreases in the prices of wood chips and other residuals.  

Lumber sales, excluding sales from the wholesale operation, represented 42.6% 
of sales in the 1997 period, compared to 43.9% of sales in the 1996 period. 
Average external prices received for lumber in the Oregon and Inland regions 
increased 5.3% and 15.5%, respectively, to $656/MBF and $478/MBF, 
respectively, for the 1997 period from prices received in the 1996 nine-month 
period.  Price increases were due to strong U.S. housing and residential and 
commercial remodeling markets.  Prices for lumber products sold from the 
Partnership's studmill in Marysville, Washington, acquired in September 1996, 
were $321/MBF in the 1997 nine-month period.  Lumber prices decreased during 
third quarter of 1997 and are expected to continue slightly downward during 
the fourth quarter as the U.S. millwork industry works off existing inventory 
levels. Moderate increases are expected beginning in the early part of the 
first quarter of 1998 reflecting anticipated production decreases by pine 
producers including the Partnership.  

External lumber sales volumes, excluding sales from the wholesale operation, 
increased 8.2% in the 1997 period to 282 MMBF, from 261 MMBF in the same 
period in 1996.  Sales volumes of Oregon lumber increased 21.8% to 116.9 MMBF 
in the 1997 period due to increases in capacity at the Partnership's 
Gilchrist and Prineville, Oregon facilities subsequent to capital 
improvements made in the first quarter of 1997.  External lumber sales 
volumes in the Inland region decreased by 13.6% to 142 MMBF in the 1997 
nine-month period primarily due to the closure of the Albeni Falls, Idaho 
sawmill in June 1996.  

                                       12

<PAGE>

External sales volumes from the Marysville studmill were 23.2 MMBF during the 
1997 period.  
               
Total log sales represented 22.6% of sales for the nine months ended 
September 30, 1997, compared to 28.7% in the same period of 1996.  Average 
external domestic prices received for logs sold in the Olympic and Hamilton 
Tree Farms increased 36.2% and 15.4%, respectively, to $463/MBF and $526/MBF 
over prices experienced in the 1996 period.  Average external prices received 
for logs sold from the Oregon Tree Farm decreased 16.6% to $397/MBF over 
prices experienced during the 1996 period. The average external prices 
received for logs sold in the Inland Tree Farm remained unchanged at 
$448/MBF.  Decreases in domestic pricing were primarily due to increased 
sales of less expensive hemlock and lower grade cedar.  Increases in export 
pricing primarily resulted from a shift in sales of mid-grade species from 
the export to the domestic market, elevating the export sales mix to higher 
grades. 

Sales of logs to customers involved in exporting activities (included in 
total log sales above) were $13.0 million, or 3.6% of sales in the 1997 
nine-month period, compared to $15.8 million, or 5.5% of sales for the same 
period in 1996. Prices received for export logs increased 1.1% to $662/MBF 
while sales volumes decreased 18.8% to 19.6 MMBF in the 1997 period from 
levels experienced in the 1996 period.  Decreases in sales volumes resulted 
from a shift in Japanese preferences from the purchase of logs to the 
purchase of lumber products and decreased demand for the most expensive 
export-grade logs.  Over the longer term, the shift to the purchase of 
lesser-grade export logs in Japan should increase the total proportion of 
export logs sold from the Washington Tree Farms, where these lower grades are 
predominant.

Domestic log sales volumes decreased 8.4% in the 1997 nine-month period to 
139.8 MMBF, compared to 176.8 MMBF in the same 1996 period primarily due to 
reductions in stumpage sales during the first half of 1997.  Domestic sales 
volumes from the Oregon, Inland and Hamilton Tree Farms decreased 1.0%, 19.5% 
and 16.8%, respectively, to 22.8 MMBF, 53.3 MMBF and 23.0 MMBF, respectively, 
over volumes experienced in the 1996 nine-month period.  Volumes sold from 
the Olympic Tree Farm acquired in May 1996 increased 13.9% to 40.6 MMBF in 
the 1997 nine-month period.
               
Sales from the Partnership's wholesale operations acquired in September 1996 
consisted of lumber and other wood products, most of which were not 
manufactured by the Partnership, and represented 25.4% of sales in the 
nine-month period ended September 30, 1997. 

Sales of timberlands were insignificant in the 1997 nine-month period, 
compared to 3.8% of sales in the 1996 period, which resulted in a $7.9 
million gain. 

By-product and other revenues accounted for 2.5% of sales in the 1997 period, 
compared to 3.9% of sales in the 1996 period.  Decreases relate primarily to 
a 25% decrease in the price of wood chips in the 1997 period.

Cost of sales as a percentage of sales increased slightly to 81.1% in the 
nine months ended September 30, 1997, compared to 79.8% in the 1996 period.  
Higher margin sales 

                                       13

<PAGE>

of the Partnership's lumber and log products in the 1997 period 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 
75.9% of total sales for the 1997 nine-month period, reflecting higher 
product prices and the closure of the less profitable Albeni Falls sawmill 
and the Partnership's plywood and remanufacturing facilities.

Selling, general and administrative expenses increased $4.6 million to $18.9 
million in the nine months ended September 30, 1997, from $14.3 million in 
the 1996 period.  Selling, general and administrative expenses represented 
5.2% of sales in the 1997 period and 4.9% of sales in the same period of 
1996. Increases were primarily due to increased marketing expenses associated 
with the Partnership's wholesale operation and additional salaries, wages and 
other benefits needed to support the current level of sales and marketing 
activities.  

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 1997 nine-month period increased by 
7.23 million compared to the same period of 1996 due to the Partnership's 
public offering and sale of common units in August 1996.

NEW ACCOUNTING PRONOUNCEMENTS

In February 1997, the Financial Accounting Standards Board ("FASB") issued 
Statement of Financial Accounting Standard No. 128, "Earnings per Share" 
("SFAS 128").  This statement establishes a different method of computing net 
income per unit than is currently required under the provisions of Accounting 
Principles Board Opinion No. 15.  Under SFAS 128, the Partnership will be 
required to present both basic net income per unit and diluted net income per 
unit.  Basic net income per unit is expected to be comparable to the 
currently presented net income per unit.  Diluted net income per unit is 
expected to be comparable or slightly higher than the currently presented net 
income per unit since the diluted calculation will also use the average 
market price instead of the higher of the average or ending market price for 
its calculations.  The Partnership expects to adopt SFAS 128 in the fourth 
quarter of 1997 and, at that time, all historical net income per unit data 
presented will be restated to conform to the provisions of SFAS 128. The 
effect of adoption of such pronouncement is expected to be immaterial to the 
financial statements taken as a whole.

In June 1997, the FASB issued Statement of Financial Accounting Standard No. 
130, "Reporting Comprehensive Income" ("SFAS 130").  This statement 
establishes standards for reporting and displaying comprehensive income and 
its components in a full set of general purpose financial statements.  The 
objective of SFAS 130 is to report a measure of all changes in equity of an 
enterprise that result from transactions and other economic events of the 
period other than transactions with owners.  The Partnership expects to adopt 
SFAS 130 in the first quarter of 1998 and does not expect comprehensive 
income to be materially different from currently reported net income.

                                       14

<PAGE>

                      PART II - OTHER INFORMATION 
                                           
ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K 

(a) The exhibits filed as part of this report are listed below and this list is
intended to serve as the exhibit index:

<TABLE>
<CAPTION>

         Exhibit No. and Description
         ---------------------------
<S>      <C>
         2.1  Agreement for the Sale and Purchase of Business Assets dated March 28,
              1997 between Registrant and Team Millwork, LLC, previously filed with
              the Partnership's Form 10-Q for the quarter ended March 31, 1997 as
              filed with the Securities and Exchange Commission on May 13, 1997, and
              is incorporated herein by reference.
         2.2  Timberlands Purchase Agreement by and between Trillium Corporation, a
              Washington corporation and Crown Pacific Limited Partnership, a
              Delaware limited partnership, dated September 12, 1997, previously
              filed with the Partnership's Form 8-K dated October 15, 1997 as filed
              with the Securities and Exchange Commission on October 28, 1997, and
              is incorporated herein by reference.
         2.3  Timber Purchase Agreement by and between Trillium Corporation, a
              Washington corporation and Crown Pacific Limited Partnership, a
              Delaware limited partnership, dated September 12, 1997 previously
              filed with the Partnership's Form 8-K dated October 15, 1997 as filed
              with the Securities and Exchange Commission on October 28, 1997, and
              is incorporated herein by reference.
         3    First Amendment to Second Amended and Restated Agreement of Limited
              Partnership of Crown Pacific Partners, L.P., previously filed with the
              Partnership's Form 10-Q for the quarter ended March 31, 1997 as filed
              with the Securities and Exchange Commission on May 13, 1997, and is
              incorporated herein by reference.
         10.1 Second Amendment to Amended and Restated Credit Agreement dated as of
              July 31, 1996, previously filed with the Partnership's Form 10-Q for
              the quarter ended March 31, 1997 as filed with the Securities and
              Exchange Commission on May 13, 1997, and is incorporated herein by
              reference.
         10.2 First Amendment to Amended and Restated Credit Agreement B dated as of
              July 31, 1996, previously filed with the Partnership's Form 10-Q for
              the quarter ended March 31, 1997 as filed with the Securities and
              Exchange Commission on May 13, 1997, and is incorporated herein by
              reference.
         10.3 Lumber Supply Agreement, dated March 28, 1997 between Registrant and
              Team Millwork, LLC, previously filed with the Partnership's Form 10-Q
              for the quarter ended March 31, 1997 as filed with the Securities and
              Exchange Commission on May 13, 1997, and is incorporated herein by
              reference.
         10.4 Third Amendment to Amended and Restated Credit Agreement dated as of
              October 10, 1997.
         10.5 Second Amendment to Amended and Restated Credit Agreement B dated as
              of October 10, 1997.
         10.6 $55 million Purchase Price Note due to Trillium Corporation, a
              Washington corporation, dated October 15, 1997, previously filed with
              the Partnership's Form 8-K dated October 15, 1997 as filed with the
              Securities and Exchange Commission on October 28, 1997, and is
              incorporated herein by reference.
         10.7 $52.5 million Purchase Price Note due to Trillium Corporation, a
              Washington corporation, dated October 15, 1997, previously filed with
              the Partnership's Form 8-K dated October 15, 1997 as filed with the
              Securities and Exchange Commission on October 28, 1997, and is
              incorporated herein by reference.
         27   Financial Data Schedule
</TABLE>

(b) Reports on Form 8-K:
         There were no reports on Form 8-K filed during the quarter ended 
    September 30, 1997.

                                       15

<PAGE>

SIGNATURES


Pursuant to the requirements 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.

Date:  November 7, 1997            CROWN PACIFIC PARTNERS, L.P.


                                   By: Crown Pacific Management Limited 
                                       Partnership, as General Partner


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

                                       16