Exhibit 21.1

Subsidiaries of Pope & Talbot, Inc. (the Registrant)

Name of Corporation	State or Other Jurisdiction of Incorporation
1)  Pope & Talbot Ltd.	Canada Business Corporations Act
2)  Mackenzie Pulp Land Ltd.	British Columbia
3)  P&T LFP Investment Ltd. Partnership	British Columbia
4)  Pope & Talbot Spearfish Ltd. Partnership	South Dakota
5)  Penn Timber, Inc.	Oregon
6)  Pope & Talbot Relocation Services, Inc.	Oregon
7)  P&T Power Company	Oregon
8)  Pope & Talbot Pulp Sales U.S., Inc.	Delaware
9)  Pope & Talbot Pulp Sales Europe SPRL	Belgium
10)  Pope & Talbot Lumber Sales, Inc.	Delaware
11)  Halsey Cl02 Limited Partnership	Oregon
12)  P&T Funding Ltd.	British Columbia
13)  P&T Finance One Limited Partnership	British Columbia
14)  P&T Finance Two Limited Partnership	British Columbia
15)  P&T Factoring Partnership	British Columbia

All subsidiaries of the registrant do business under the name of the corporation.