Weyerhaeuser Company (NYSE: WY) today announced that it has signed an agreement to sell its six U.S. composite mills in the United States to Flakeboard Company Ltd.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
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The sale, which is subject to regulatory and board approval, is expected to close in the third quarter. Terms of the sale were not disclosed.

The locations to be sold include Albany, Ore.; Bennettsville, S.C.; Eugene, Ore.; Malvern, Ark.; and Simsboro, La. The mills, which produce medium density fiberboard (MDF) or particleboard, have the capacity to produce a total of 1.1 billion square feet annually.

"As part of our review to align our resources, we have determined that the composite panels business is no longer a strategic fit for Weyerhaeuser," said Steven R. Rogel, chairman, president and chief executive officer. "We believe that the skilled employees at these highly competitive and efficient mills will provide greater value to Flakeboard, which is more focused on this line of business products."

Flakeboard is headquartered in Markham, Ontario and currently has manufacturing facilities in Ontario and New Brunswick.

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2005, sales were $22.6 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/.

  Weyerhaeuser:
   Media - Bruce Amundson (253) 924-3047
   Analysts - Kathryn McAuley (253) 924-2058

  Flakeboard:
   Kelly Shotbolt, 800-268-9830

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SOURCE: Weyerhaeuser Company

CONTACT: press, Bruce Amundson, +1-253-924-3047, or analysts, Kathryn
McAuley, +1-253-924-2058, both of Weyerhaeuser; or Kelly Shotbolt of
Flakeboard, 800-268-9830

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