Exhibit 12.1

BOISE CASCADE CORPORATION AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges

	Year Ended December 31
	2003			2002			2001			2000			1999
	(thousands, except ratios)
Interest costs	$	134,930		$	133,762		$	129,917		$	152,322		$	146,124
Guarantee of interest on ESOP debt		3,976			6,405			8,732			10,880			12,856
Interest capitalized during the period		391			3,937			1,945			1,458			238
Interest factor related to noncapitalized leases(a)		15,974			11,128			11,729			13,394			13,065
Total fixed charges	$	155,271		$	155,232		$	152,323		$	178,054		$	172,283
Income (loss) before income taxes, minority interest, and cumulative effect of accounting changes	$	19,297		$	(12,214	)	$	(48,558	)	$	298,331		$	355,940
Undistributed (earnings) losses of less than 50% owned entities, net of distributions received		(8,695	)		2,435			8,039			(2,061	)		(6,115	)
Total fixed charges		155,271			155,232			152,323			178,054			172,283
Less:  Interest capitalized		(391	)		(3,937	)		(1,945	)		(1,458	)		(238	)
Guarantee of interest on ESOP debt		(3,976	)		(6,405	)		(8,732	)		(10,880	)		(12,856	)
Total earnings before fixed charges	$	161,506		$	135,111		$	101,127		$	461,986		$	509,014
Ratio of earnings to fixed charges		1.04			—			—			2.59			2.95
Excess of fixed charges over earnings before fixed charges	$	—		$	20,121		$	51,196		$	—		$	—

(a)

Interest expense for operating leases with terms of one year or longer is based on an imputed interest rate for each lease.