Weyerhaeuser Receives $344 Million of Its Softwood Duties

Weyerhaeuser Company (NYSE: WY) today confirmed it has received a pre-tax refund of approximately $344 million, or 82 percent, of the duties it paid since 2002 on Canadian lumber sold in the United States.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
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The payment resulted from the 2006 Softwood Lumber Agreement between the United States and Canada, which went into effect on Oct. 12. The refund was paid by Export Development Corporation, which purchased the duties thereby eliminating the waiting period anticipated for U.S. customs to process the repayment.

The amount Weyerhaeuser received from the EDC represents substantially all of the funds that are expected to be returned to the company. The refund will have a positive effect upon the company's fourth quarter earnings.

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2005, sales were $22.6 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. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .

  For more information contact:

  Media - Bruce Amundson (253) 924-3047
  Analysts - Kathryn McAuley (253) 924-2058

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SOURCE: Weyerhaeuser Company

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

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