Weyerhaeuser Completes Sale of 16,675,000 Common Shares

Weyerhaeuser Company (NYSE: WY) today completed the sale of 16,675,000 common shares. The sale included the 14,500,000 common shares Weyerhaeuser had previously announced it would sell, plus an additional 2,175,000 common shares issued in connection with the exercise of the underwriters' option to purchase shares to cover over-allotments.

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Weyerhaeuser received net proceeds of approximately $953.7 million from the sale of the common shares. Weyerhaeuser expects to use the net proceeds from the offering to retire a portion of its outstanding debt during the twelve-month period following the closing of the offering.

Underwriters for the offering included Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc., joint book-running managers, as well as Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Banc of America Securities LLC, each a co-managing underwriter.

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2003, sales were $19.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities.

CONTACT: media, Bruce Amundson, +1-253-924-3047, or analysts, Kathryn McAuley, +1-253-924-2058, both for Weyerhaeuser Company.

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SOURCE: Weyerhaeuser Company

CONTACT: media, Bruce Amundson, +1-253-924-3047, or analysts,
Kathryn McAuley, +1-253-924-2058, both for Weyerhaeuser Company

Web site: http://www.weyerhaeuser.com/