The board of directors of Weyerhaeuser Company Limited (TSX: WYL) on July 14, 2005, declared a dividend of US$0.50 per share on the exchangeable shares of the corporation payable August 29, 2005, to shareholders of record at the close of business August 5, 2005.

The dividend shall be paid in the Canadian dollar equivalent at the noon spot exchange rate on July 14, 2005, of 1.2073. The Canadian dollar equivalent amount is CDN$0.60.

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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 http://www.weyerhaeuser.com/ .

For more information contact:

Xan McCallum 253-924-3781

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SOURCE: Weyerhaeuser Company

CONTACT: Xan McCallum of Weyerhaeuser Company, +1-253-924-3781

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