Weyerhaeuser Company (NYSE: WY) will maintain its focus on environmental stewardship and operating ethically as it prepares to take the next steps in its growth according to comments made by Steven R. Rogel, chairman, president and chief executive officer, at today's annual meeting of shareholders.

 (Photo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
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Rogel told shareholders that Weyerhaeuser still faces many challenges, but it is on a "journey where opportunities abound" which the company will take "while operating ethically and to the highest environmental standards." He said Weyerhaeuser remains focused on paying down the debt associated with the acquisition of Willamette Industries, but that Weyerhaeuser is committed to growing globally.

In his speech, Rogel also challenged his employees to help society understand the role wood can play in meeting basic human needs.

"Wood truly is a remarkable, renewable and reusable resource," Rogel said. "It can -- and should -- play an important role in meeting basic human needs in an environmentally sound manner. But unless we, as an industry-leader, help society understand that role, wood will not be the answer."

Rogel noted that there is more forestland in the United States today than in 1920 and that wildlife populations have increased for many species due to the cooperative efforts of communities, governments, native peoples, environmental groups, and the industry to protect the well-being of forests.

"Here at Weyerhaeuser, we are practicing sustainable forestry," Rogel said. "While all of us are very proud of our current forest management practices, I don't ever want us to become complacent.

"We must engage in meaningful and respectful dialogue with all stakeholders to ensure the continued well-being of the forest ecosystem," Rogel said. "The well-being of our forests is too important to be reduced to inaccurate or misleading sound bites, single-cause approaches or dialogues between only two parties."

The full text of Rogel's remarks can be viewed at www.weyerhaeuser.com.

At the meeting, Weyerhaeuser shareholders reelected Rogel, William D. Ruckelshaus, Richard H. Sinkfield, and James N. Sullivan to the board. Shareholders also approved:

-- The company's 2004 Long-Term Incentive Plan;

-- The shareholder proposal relating to accounting for stock options (advisory only); and

  -- KMPG LLP as the company's independent auditor (advisory only).

  Shareholders rejected:

-- The proposal to amend the articles of incorporation authorizing annual election of the board;

  -- The shareholder proposal relating to equity compensation;
  -- The shareholder proposal relating to environmental reporting; and
  -- The shareholder proposal relating to old-growth and endangered forests.

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. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .

CONTACT: media, Frank Mendizabal, +1-253-924-3357, or investors, Kathryn McAuley, +1-253-924-2058, both for Weyerhaeuser.

Photo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b
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SOURCE: Weyerhaeuser Company

CONTACT: media, Frank Mendizabal, +1-253-924-3357, or investors,
Kathryn McAuley, +1-253-924-2058, both for Weyerhaeuser

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