Weyerhaeuser Real Estate Company Buys Land Position in Greater Portland Metropolitan Area

Quadrant Homes, a subsidiary of Weyerhaeuser Real Estate Company (WRECO), is entering into contracts of purchase and acquiring options to buy 800-900 residential building lots in Clark County, Washington and the greater Portland area.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
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"The transaction we're announcing today is part of WRECO's recently announced growth strategy," said Peter Orser, President of Quadrant Homes. "The Clark County land is a strategic fit for us since the greater Portland metropolitan area is a proximate market to Quadrant's Puget Sound operation."

  Price and terms of the transaction have not been disclosed.
  WRECO is owned by Weyerhaeuser Company.

Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $22.7 billion. It has offices or operations in 19 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. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .

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SOURCE: Weyerhaeuser Company

CONTACT: Frank Mendizabal of Weyerhaeuser, +1-253-924-3357

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