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Weyerhaeuser Company Limited Increases Second Quarter Dividend; Increase Reflects Board's Confidence in Improved Earning Capabilities

PRNewswire-FirstCall
FEDERAL WAY, Wash.
Apr 21, 2005

The board of directors of Weyerhaeuser Company Limited (TSX: WYL) today declared a dividend of U.S. 50 cents per share on the exchangeable shares of the corporation payable May 31, 2005 to shareholders of record at the close of business May 6, 2005.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
          http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b )

This is an increase of 25 percent from the first quarter dividend of 40 cents per share.

"This action reflects the board's confidence in the company's financial strength," said Steven R. Rogel, chairman, president and chief executive officer. "It also demonstrates the commitment we made to shareholders that we would capitalize on opportunities to enhance shareholder value after reducing our debt following the Willamette acquisition."

The dividend shall be paid in the Canadian dollar equivalent at the noon spot exchange rate on April 20, 2005 of 1.2393. The Canadian dollar equivalent amount is 62 cents.

Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $29.5 billion ($22.7 billion US). 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. Weyerhaeuser Company Limited, a wholly owned subsidiary, has Exchangeable Shares listed on the Toronto Stock Exchange under the symbol WYL. Additional information about Weyerhaeuser's businesses, products and practices is available at www.weyerhaeuser.com.

    For more information contact:
    Media - Bruce Amundson (253) 924-3047
    Analysts - Kathryn McAuley (253) 924-2058
Photo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk; photodesk@prnewswire.com

SOURCE: Weyerhaeuser Company Limited

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/

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