Weyerhaeuser Company (NYSE: WY) today completed the sale of its B.C. Coastal Group assets to Brascan Corporation of Toronto, Canada. The sale was for approximately $1.4 billion ($1.1 billion US), including working capital. Weyerhaeuser expects to use the proceeds primarily for debt repayment.

  (Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
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The transaction includes 258,000 hectares (635,000 acres) of private timberlands and the annual harvesting rights to 3.6 million cubic meters of public land timber. The sale also includes five softwood sawmills, with a combined annual production of 690 million board feet, and two remanufacturing facilities.

"I want to thank all Coastal Group employees for their outstanding service to Weyerhaeuser and for working so hard to achieve this timely and seamless transition to Brascan," said Sandy D. McDade, president of Weyerhaeuser Company Limited.

Weyerhaeuser will maintain a significant presence in Canada and British Columbia following the sale. The company will continue to employ about 7,000 Canadian employees -- producing and distributing softwood and hardwood lumber, engineered wood, oriented strand board, plywood, pulp, and fine paper-across the country.

Weyerhaeuser Company, 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:
   CDN Media - Sarah Goodman 604-661-8408
   US Media - Xan McCallum 253-924-3781
   Analysts - Kathy McAuley 253-924-2058

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SOURCE: Weyerhaeuser Company

CONTACT: CDN Media, Sarah Goodman, +1-604-661-8408; or US Media, Xan
McCallum, +1-253-924-3781; or Analysts, Kathy McAuley, +1-253-924-2058, all of
Weyerhaeuser Company

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