Weyerhaeuser Company (NYSE: WY) today announced that its board of directors has authorized the repurchase of up to 18 million shares, or 7.4 percent, of its outstanding common stock. As of Oct. 20, Weyerhaeuser had approximately 243 million shares of common stock outstanding.

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"Weyerhaeuser is committed to creating value for our shareholders," said Steven R. Rogel, chairman, president and chief executive officer. "We are pleased that our strong balance sheet and significant cash flow allows us to implement this share repurchase program that will return cash to shareholders while we pursue other value-creating initiatives."

Stock repurchases under this program may be made through the open market and at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.

Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $22.7 billion. 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. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/.

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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 Company

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