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Weyerhaeuser Reports Net Earnings of $395 Million for 2006, or $1.61 Per Diluted Share, on Net Sales of $21.9 Billion

PRNewswire-FirstCall
FEDERAL WAY, Wash.
Feb 9, 2007

Weyerhaeuser Company (NYSE: WY) today reported net earnings of $395 million for 2006, or $1.61 per diluted share, on net sales of $21.9 billion. This compares with net earnings of $733 million, or $2.98 per diluted share, on net sales of $22 billion for 2005.

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

For the fourth quarter 2006, Weyerhaeuser reported net earnings of $450 million, or $1.88 per diluted share, on net sales of $5.7 billion. Last year, Weyerhaeuser reported a fourth quarter net loss of $211 million, or 86 cents per diluted share, on net sales of $5.7 billion.

Fourth quarter 2006 earnings include 14 weeks of results compared to 13 weeks for the same quarter last year and contain the following after-tax items:

  -- A gain of $227 million, or 95 cents per diluted share, for the refund
     of countervailing and anti-dumping duties on Canadian softwood lumber
     sold in the United States.
  -- A gain of $43 million, or 18 cents per diluted share, from the sale of
     the company's composite panels assets in Ireland.
  -- Charges of $36 million, or 15 cents per diluted share, for asset
     impairments and costs associated with closure of facilities, primarily
     in Wood Products.
  -- Charges of $13 million, or 5 cents per diluted share, for impairment of
     real estate assets.

  The loss for fourth quarter 2005 included the following after-tax items:

  -- Charges of $438 million, or $1.78 per diluted share, for facility
     closures primarily in the Fine Paper, Cellulose Fiber and
     Containerboard businesses
  -- Charges of $32 million, or 13 cents per diluted share, for asset
     impairment charges, including a charge associated with a California
     land development.
  -- A charge of $25 million, or 10 cents per diluted share, associated with
     the settlement of litigation.
  -- A loss of $10 million, or 4 cents per diluted share, for early
     extinguishment of debt.
  -- A gain of $34 million, or 13 cents per diluted share, on the sale of
     the company's composite panels assets in France.
  -- Income of $28 million, or 12 cents per diluted share, for the
     cumulative effect of a change to begin capitalizing Weyerhaeuser
     interest to assets of Weyerhaeuser Real Estate Company.

During fourth quarter 2006, Weyerhaeuser repurchased 5.5 million shares of common stock. As of the end of the fourth quarter, Weyerhaeuser has repurchased 11 million shares of the 18 million-share repurchase previously authorized by the company's board of directors.

"This past year was a time of ongoing dynamic change as we took steps to further improve shareholder value," said Steven R. Rogel, chairman, president and chief executive officer. "These efforts included our work to significantly restructure containerboard packaging and wood products, two of our major segments. To focus our portfolio, we entered into an agreement to combine our fine paper business and related assets with Domtar and began the complex process of implementing this landmark transaction. As part of our growth strategy, we expanded our real estate business and increased our timberlands position in South America. We continue to improve our efficiency by implementing significant changes in how we manage our supply chains and continuing to migrate to a single information technology platform. While we haven't finished our work on many of these efforts, and we may not see their full benefit for several quarters, our continued focus on these initiatives will benefit our shareholders despite challenging market conditions."

DOMTAR TRANSACTION

On Feb. 2, Weyerhaeuser announced an offer to its shareholders for the exchange of some or all of their shares of Weyerhaeuser common stock or exchangeable shares of Weyerhaeuser Company Limited (TSE: WYL) for shares of Domtar Corp. common stock.

The exchange is expected to be tax-free to participating Weyerhaeuser shareholders for U.S. federal income tax purposes. The offer will expire at 12:00 midnight, New York City time, on March 2, unless extended or terminated.

As previously announced on Aug. 23, Weyerhaeuser and Domtar Inc. (NYSE: DTC)(TSE: DTC) entered into a definitive agreement to combine Weyerhaeuser's fine paper business and related assets with Domtar Inc. to form Domtar Corp., which will become North America's largest producer of fine paper.

The Registration Statement on Form S-4 and S-1 filed by Weyerhaeuser with the Securities and Exchange Commission more fully describes the terms and conditions of the exchange offer.

  SUMMARY OF FOURTH QUARTER FINANCIAL HIGHLIGHTS

  Millions (except per share data)     4Q 2006   4Q 2005   Change
                                     (14 weeks) (13 weeks)
  Net earnings (loss)                   $450      ($211)    $661
  Earnings (loss) per diluted share    $1.88     ($0.86)   $2.74
  Net sales                           $5,655     $5,717     ($62)


  SUMMARY OF ANNUAL FINANCIAL HIGHLIGHTS

  Millions (except per share data)      2006       2005    Change
                                     (53 weeks) (52 weeks)
  Net earnings                          $395       $733    ($338)
  Earnings per diluted share           $1.61      $2.98   ($1.37)
  Net sales                          $21,896    $22,046    ($150)


  SEGMENT RESULTS FOR FOURTH QUARTER
  (Contributions to Pre-Tax Earnings)

  Millions                            4Q 2006     4Q 2005   Change
                                     (14 weeks) (13 weeks)
  Timberlands                           $167       $183     ($16)
  Wood Products                         $110        $26      $84
  Cellulose Fiber and White Papers      $120      ($477)    $597
  Containerboard, Packaging and
   Recycling                             $71      ($188)    $259
  Real Estate and Related Assets        $293       $250      $43


  TIMBERLANDS
                                      4Q 2006     3Q 2006   Change
                                     (14 weeks) (13 weeks)
  Contribution to pre-tax
   earnings (millions)                  $167       $178     ($11)



Fourth quarter earnings decreased from the third quarter mainly due to lower domestic log prices, primarily in the West. Higher fee harvest volumes in the South partially offset the decline in log prices. Costs were slightly higher in the fourth quarter due to weather and curtailment of operations in the West to balance harvest with customer demand.

Weyerhaeuser expects the first quarter earnings to be slightly lower for the segment compared to the fourth quarter due to lower demand for lumber resulting in lower domestic log prices, and lower fee harvest volumes in the South.

  WOOD PRODUCTS
                                      4Q 2006     3Q 2006   Change
                                     (14 weeks) (13 weeks)
  Contribution to pre-tax
   earnings (millions)                  $110        $11      $99



Excluding the third and fourth quarter items noted below, fourth quarter contribution to earnings decreased $140 million from the third quarter.

  Fourth quarter included the following pre-tax items:

  -- A refund of $344 million countervailing and anti-dumping duties
     resulting from the settlement of the Canadian Softwood Lumber dispute.
  -- Costs of $48 million for facility closures and related asset
     impairments.

  Third quarter items included the following:

  -- A gain of $51 million on the sale of the company's North American
     composites business.
  -- Income of $23 million related to a reduction in the reserve for
     hardboard siding claims.
  -- Charges of $17 million for the impairment of fixed assets associated
     with mill closures and curtailments.

The downturn in residential housing construction, combined with normal seasonal construction slowing in the fourth quarter, caused a significant reduction in demand and prices for wood products which led to lower earnings. Lumber sales realizations, on average, declined 8 percent from third quarter. Combined with lower sales volume, this decrease accounts for nearly half of the quarter-to-quarter decrease in operating earnings for the segment. On average, sales realizations for oriented strand board declined 17 percent from third quarter and average weekly shipment volumes declined 3 percent. This change in structural panels accounts for 25 percent of the quarter-to-quarter decrease in segment earnings. Shipment volumes for engineered products also declined. To adjust operations to match customer demands, Weyerhaeuser curtailed production at 70 percent of its wood products facilities during the quarter.

Weyerhaeuser anticipates some improvement in market conditions in the first quarter 2007, but still expects to experience significant losses in its wood products business. Weyerhaeuser will continue to balance production to demand which may result in further curtailments.

  CELLULOSE FIBER AND WHITE PAPERS
                                      4Q 2006    3Q 2006    Change
                                     (14 weeks) (13 weeks)
  Contribution to pre-tax
   earnings (millions)                  $120       $115       $5



Fine paper sales volumes in the fourth quarter remained unchanged on a per-day basis from third quarter while average sales realizations declined $3 per scale weight ton. Pulp sales volume and prices improved during the fourth quarter.

Fourth quarter manufacturing costs increased slightly due to rising raw material costs and a seasonal increase in energy costs. Lower freight and chemical costs, combined with a favorable effect from a weakening Canadian dollar partially, partially offset the higher material and energy costs.

Weyerhaeuser expects that first quarter market conditions for this segment will remain favorable. The company anticipates that fine paper prices will remain relatively unchanged and demand will strengthen. Market conditions for pulp are expected to improve and lead to stronger prices. Weyerhaeuser expects the scheduled completion of the announced Domtar transaction the first week of March to affect first quarter earnings. Upon closing, this transaction will eliminate the earnings of the fine paper business and certain related cellulose fiber assets from this segment. Excluding the assets transferring to Domtar, this segment contributed earnings of approximately $44 million in the fourth quarter. Additionally, Weyerhaeuser expects manufacturing costs to increase due to scheduled annual maintenance outages at several facilities, which will be accounted for on an actual expense incurred basis.

  CONTAINERBOARD, PACKAGING AND RECYCLING
                                                 4Q 2006   3Q 2006   Change
                                               (14 weeks) (13 weeks)
  Contribution to pre-tax earnings (millions)      $71       $96      ($25)



Fourth quarter earnings decreased from the third quarter primarily due to a higher spending at packaging facilities on maintenance and modernizations, and seasonally higher natural gas consumption at the containerboard mills.

Packaging prices decreased slightly due to mix and containerboard prices increased due to higher realizations on export shipments. Packaging shipments declined slightly on a workday basis while containerboard shipments increased 17 percent on a per day basis with strong growth occurring in export markets. During fourth quarter, Weyerhaeuser adjusted containerboard operating rates to match customer demand.

The company expects first quarter earnings to be slightly lower compared with fourth quarter. Price realizations for containerboard and packaging are expected to increase in the first quarter. Weyerhaeuser expects packaging shipments to decline on a workday basis due to the effect of California's cold weather on produce markets. Prices for OCC and wood chips are increasing rapidly from fourth quarter levels. The company expects its cost reduction initiatives to partially offset lower packaging shipments and higher fiber related costs.

  REAL ESTATE AND RELATED ASSETS
                                                 4Q 2006   3Q 2006   Change
                                               (14 weeks) (13 weeks)
  Contribution to pre-tax earnings (millions)     $293       $135     $158



Fourth quarter earnings include approximately $138 million from sales of land, lots and an apartment project. In addition, fourth quarter earnings benefited from seasonally increased single-family home closings and higher average sales prices compared to the prior quarter. Fourth quarter includes asset impairment charges of $19 million compared with $14 million in the third quarter.

New orders for single-family homes declined compared with the third quarter. The backlog of homes sold, but not closed, at the end of the fourth quarter is approximately three months' sales compared with five months' sales a year ago. Traffic declined 29 percent from the fourth quarter last year. The single-family cancellation rate was 36 percent, up from 22 percent at year-end 2005.

Weyerhaeuser expects first quarter real estate earnings to decline significantly from the fourth quarter. During the quarter, Weyerhaeuser anticipates seasonally lower single-family home closings. Discounting and sales concessions in the near term are expected to affect home prices and margins. There are no expected significant land sales transactions in the first quarter.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2006, sales were $21.9 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/.

EARNINGS CALL INFORMATION

The company will hold a live conference call at 7 a.m. Pacific (10 a.m. Eastern) on Feb. 9 to discuss fourth quarter results.

To access the conference call from within North America, dial 1-800-218-0530 at least 15 minutes prior to the call. Those calling from outside North America should dial 1-303-262-2050. Replays will be available for one week at 1-800-405-2236 (access code - 11080278#) from within North America and at 1-303-590-3000 (access code - 11080278#) from outside North America.

The call is being webcast through Weyerhaeuser's Internet site at http://investor.weyerhaeuser.com/ by clicking on the "Q4 2006 Earnings Conference Call" link.

The webcast is available through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at http://www.fulldisclosure.com/ , Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson's password-protected site, StreetEvents (http://www.streetevents.com/).

ADDITIONAL INFORMATION

This announcement is for informational purposes only and is neither an offer to sell nor an offer to buy any securities or a recommendation as to whether you should participate in the exchange offer announced previously. The offer is made solely by a Prospectus-Offer to Exchange and related letters of transmittal.

Investors and shareholders are urged to read the Prospectus-Offer to Exchange, and any other relevant documents filed with the Securities and Exchange Commission, when they become available and before making any investment decisions. None of Weyerhaeuser, Weyerhaeuser Company Limited, Domtar Inc., Domtar Corporation or any of their respective directors or officers makes any recommendation as to whether you should participate in the exchange offer. You can obtain a free copy of the Prospectus-Offer to Exchange and other related documents filed by Weyerhaeuser or Domtar Corporation with the Securities and Exchange Commission at www.sec.gov.

FORWARD LOOKING STATEMENT

This news release contains statements concerning the company's future results and performance that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use of forward-looking terminology such as "expects," "may," "will," "believes," "should," "approximately," "anticipates," "estimates," and "plans," and the negative or other variations of those terms or comparable terminology or by discussions of strategy, plans or intentions. In particular, some of these forward-looking statements deal with expectations regarding the company's markets in the first quarter 2007; expected earnings and performance of the company's business segments during the first quarter 2007, demand and pricing for the company's products in the first quarter 2007, lower domestic log prices in the first quarter 2007, lower to timber fee harvest volumes in the South during the first quarter 2007, timing of closing of transaction with Domtar; increases in manufacturing costs in the Cellulose Fiber and White Paper Business due to scheduled annual maintenance outages at certain facilities in first quarter 2007; decline of packaging shipments due to the effect of California's weather on produce markets; increases in prices for OCC and wood chips, expectations for cost reduction initiatives, and related matters. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to:

  -- The effect of general economic conditions, including the level of
     interest rates and housing starts;
  -- Market demand for the company's products, which may be tied to the
     relative strength of various U.S. business segments;
  -- Energy prices;
  -- Raw material prices;
  -- Chemical prices;
  -- Performance of the company's manufacturing operations including
     unexpected maintenance requirements;
  -- The successful execution of internal performance plans including cost
     reduction initiatives;
  -- The level of competition from domestic and foreign producers;
  -- The effect of forestry, land use, environmental and other governmental
     policies and regulations, and changes in accounting regulations;
  -- The effect of weather;
  -- The risk of loss from fires, floods, windstorms, hurricanes and other
     natural disasters;
  -- Transportation costs;
  -- Legal proceedings;
  -- The failure to obtain governmental approvals of the Domtar transaction
     on the proposed terms and schedule; the failure to obtain approval by
     shareholders and option holders of Domtar and a material adverse change
     in the business, assets, financial condition or results of operations
     of Domtar, or the portion of the Company's Cellulose Fiber and White
     Papers Business to be combined with Domtar;
  -- The effect of timing of retirements and changes in the market price of
     company stock on charges for stock-based compensation; and
  -- Performance of pension fund investments and related derivatives.

The company is also a large exporter and is affected by changes in economic activity in Europe and Asia, particularly Japan, and by changes in currency exchange rates, particularly the relative value of the U.S. dollar to the Euro and the Canadian dollar, and restrictions on international trade or tariffs imposed on imports. These and other factors could cause or contribute to actual results differing materially from such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will occur, or if any of them occurs, what effect they will have on the company's results of operations or financial condition. The company expressly declines any obligation to publicly revise any forward-looking statements that have been made to reflect the occurrence of events after the date of this news release.

  For more information contact:
  Media - Bruce Amundson (253) 924-3047
  Analysts - Kathryn McAuley (253) 924-2058



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  CONSOLIDATED
  EARNINGS                 Q1                 Q2                 Q3
  (in millions)    March 26, March 27, June 25, June 26, Sept. 24, Sept. 25,
                      2006     2005     2006     2005      2006      2005
  Net sales and
   revenues:
    Weyerhaeuser (1)  $4,566   $4,577   $4,911   $5,017   $4,579   $4,836
    Real Estate and
     Related Assets      690      655      746      648      749      596
  Total net sales and
   revenues            5,256    5,232    5,657    5,665    5,328    5,432

  Costs and expenses:
    Weyerhaeuser:
     Costs of products
      sold (2)         3,652    3,544    3,855    3,871    3,628    3,841
     Depreciation,
      depletion and
      amortization       306      316      305      319      305      320
     Selling expenses    109      115      126      117      123      116
     General and
      administrative
      expenses           259      225      228      219      237      239
     Research and
      development
      expenses (3)        16       14       15       12       23       18
     Charges for
      restructuring (4)   --        5       18        4        4        2
     Charges for
      closure of
      facilities (5)       1        5       17        3       43       29
     Impairment of
      goodwill (6)       746       --        3       --       --       --
     Refund of
      countervailing
      and anti-dumping
      duties              --       --       --       --       --       --
     Other operating
      costs, net
      (2)(7)(8)           31        9      (23)     (39)     (34)     (33)
                       5,120    4,233    4,544    4,506    4,329    4,532
    Real Estate and
     Related Assets:
     Costs and
      operating
      expenses (9)       482      426      553      441      539      401
     Depreciation and
      amortization         3        3        4        4       10        4
     Selling expenses     37       34       43       36       44       36
     General and
      administrative
      expenses            30       24       35       25       30       28
     Other operating
      costs, net          (3)      --        3       (2)      (2)      (2)
     Impairment of
      long-lived
      assets              --       --        3       --       14       --
                         549      487      641      504      635      467
  Total costs and
   expenses            5,669    4,720    5,185    5,010    4,964    4,999

  Operating income      (413)     512      472      655      364      433

  Interest expense and
   other:
    Weyerhaeuser:
     Interest expense
      incurred (10)     (152)    (196)    (152)    (179)    (149)    (193)
     Less: interest
      capitalized (2)     16       --       20        2       21        3
     Interest income
      and other (11)      19       27       15       20       17      143
     Equity in income
      (loss) of
      affiliates (12)      3       --        6        4       --        2
    Real Estate and
     Related Assets:
     Interest expense
      incurred           (14)     (14)     (14)     (14)     (12)     (13)
     Less: interest
      capitalized         14       14       14       14       12       13
     Interest income
      and other           10        5        3       (2)       7        4
     Equity in income
      of unconsolidated
      entities (13)       21       10       15       13       14       14
  Earnings (loss) from
   continuing
   operations before
   income taxes         (496)     358      379      513      274      406
  Income tax (expense)
   benefit  (14)         (87)    (125)     (82)    (225)     (89)    (119)
  Earnings (loss) from
   continuing
   operations           (583)     233      297      288      185      287
  Earnings (loss) from
   discontinued
   operations, net of
   taxes  (15)             3        6       17      132       26       (2)
  Net earnings (loss)  $(580)    $239     $314     $420     $211     $285

  Basic net earnings
   (loss) per share:
    Continuing
     operations       $(2.37)   $0.96    $1.20    $1.18    $0.75    $1.17
    Discontinued
     operations         0.01     0.02     0.07     0.54     0.10    (0.01)
    Net earnings
     (loss) per
     share            $(2.36)   $0.98    $1.27    $1.72    $0.85    $1.16

  Diluted net earnings
   (loss) per share:
    Continuing
     operations       $(2.37)   $0.96    $1.19    $1.17    $0.75    $1.17
    Discontinued
     operations         0.01     0.02     0.07     0.54     0.10    (0.01)
    Net earnings
     (loss) per
     share            $(2.36)   $0.98    $1.26    $1.71    $0.85    $1.16

  Dividends paid per
   share               $0.50    $0.40    $0.50    $0.50    $0.60    $0.50

  Weighted average
   shares outstanding
   (in thousands)
    Basic            245,794  242,863  248,147  244,702  247,428  245,009
    Diluted          245,794  244,185  249,194  245,881  247,900  246,190



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  CONSOLIDATED
  EARNINGS                                     Q4           Year-to-date
  (in millions)                         Dec. 31, Dec. 25, Dec. 31, Dec. 25,
                                          2006     2005     2006     2005
  Net sales and
   revenues:
    Weyerhaeuser (1)                     $4,505   $4,701  $18,561  $19,131
    Real Estate and
     Related Assets                       1,150    1,016    3,335    2,915
  Total net sales and
   revenues                               5,655    5,717   21,896   22,046

  Costs and expenses:
    Weyerhaeuser:
     Costs of products
      sold (2)                            3,665    3,877   14,800   15,133
     Depreciation,
      depletion and
      amortization                          331      326    1,247    1,281
     Selling expenses                       134      107      492      455
     General and
      administrative
      expenses                              266      224      990      907
     Research and
      development
      expenses (3)                           15       17       69       61
     Charges for
      restructuring (4)                      --       10       22       21
     Charges for
      closure of
      facilities (5)                         51      656      112      693
     Impairment of
      goodwill (6)                           --       --      749       --
     Refund of
      countervailing
      and anti-dumping
      duties                               (344)      --     (344)      --
     Other operating
      costs, net
      (2) (7)(8)                            (12)      19      (38)     (44)
                                          4,106    5,236   18,099   18,507
    Real Estate and
     Related Assets:
     Costs and
      operating
      expenses (9)                          764      678    2,338    1,946
     Depreciation and
      amortization                            8        5       25       16
     Selling expenses                        56       46      180      152
     General and
      administrative
      expenses                               29       28      124      105
     Other operating
      costs, net                             (1)       1       (3)      (3)
     Impairment of
      long-lived
      assets                                 19       33       36       33
                                            875      791    2,700    2,249
  Total costs and
   expenses                               4,981    6,027   20,799   20,756

  Operating income                          674     (310)   1,097    1,290

  Interest expense and
   other:
    Weyerhaeuser:
     Interest expense
      incurred (10)                        (162)    (171)    (615)    (739)
     Less: interest
      capitalized (2)                        28       54       85       59
     Interest income
      and other (11)                         19       24       70      214
     Equity in income
      (loss) of
      affiliates (12)                        (2)     (12)       7       (6)
    Real Estate and
     Related Assets:
     Interest expense
      incurred                              (15)     (14)     (55)     (55)
     Less: interest
      capitalized                            15       14       55       55
     Interest income
      and other                              10        5       30       12
     Equity in income
      of unconsolidated
      entities (13)                           8       20       58       57
  Earnings (loss) from
   continuing
   operations before
   income taxes                             575     (390)     732      887
  Income tax (expense)
   benefit (14)                            (177)     151     (435)    (318)
  Earnings (loss) from
   continuing
   operations                               398     (239)     297      569
  Earnings (loss) from
   discontinued
   operations, net of
   taxes (15)                                52       28       98      164
  Net earnings (loss)                      $450    $(211)    $395     $733

  Basic net earnings
   (loss) per share:
    Continuing
     operations                           $1.67   $(0.98)   $1.21    $2.33
    Discontinued
     operations                            0.21     0.12     0.40     0.67
    Net earnings
     (loss) per
     share                                $1.88   $(0.86)   $1.61    $3.00

  Diluted net earnings
   (loss) per share:
    Continuing
     operations                           $1.67   $(0.98)   $1.21    $2.32
    Discontinued
     operations                            0.21     0.12     0.40     0.66
    Net earnings
     (loss) per
      share                               $1.88   $(0.86)   $1.61    $2.98

  Dividends paid per
   share                                  $0.60    $0.50    $2.20    $1.90

  Weighted average
   shares outstanding
   (in thousands)
    Basic                               238,824  245,215  244,931  244,447
    Diluted                             239,525  246,198  245,707  245,559



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  FOOTNOTES TO CONSOLIDATED EARNINGS
    (in millions)

                                     Q1     Q1     Q2     Q2     Q3     Q3
                                    2006   2005   2006   2005   2006   2005
  (1)  Includes countervailing and
       anti-dumping duties and
       related costs:                $11    $22    $10    $27     $7    $19


  (2)  In the fourth quarter of 2005, Weyerhaeuser began capitalizing
       interest on qualifying assets of Weyerhaeuser Real Estate Company
       (WRECO).  These amounts are included in Weyerhaeuser capitalized
       interest.  Weyerhaeuser cost of products sold includes amounts
       recognized to expense previously capitalized interest in connection
       with the sale of WRECO assets.  The year-to-date 2005 amounts were
       recorded in the fourth quarter of 2005.  The net cumulative effect
       for years prior to 2005 was recorded in Weyerhaeuser other operating
       costs, net.  Weyerhaeuser results include the following related to
       capitalized interest on WRECO assets:


                                     Q1     Q1     Q2     Q2     Q3     Q3
                                    2006   2005   2006   2005   2006   2005
       Cost of products sold:         $7    $--     $7    $--     $8    $--
       Interest capitalized:         (14)    --    (15)    --    (17)    --
       Other operating costs, net:    --     --     --     --     --     --
                                     $(7)   $--    $(8)   $--    $(9)   $--


  (3)  The third quarter of 2006 includes a $9 million charge related to the
       acquisition of OrganicID, a research and development company.

  (4)  The second quarter of 2006 includes an $18 million charge related to
       the restructuring of the Containerboard, Packaging and Recycling
       business model.

  (5)  See detail of closure charges by segment on page 4.

  (6)  The first and second quarters of 2006 include charges of $746 million
       and $3 million, respectively, for the impairment of goodwill
       associated with the fine paper business.


                                     Q1     Q1     Q2     Q2     Q3     Q3
                                    2006   2005   2006   2005   2006   2005
  (7)  Includes net foreign exchange
       gains (losses), primarily
       from fluctuations in
       Canadian and New Zealand
       exchange rates:              $(26)   $13    $21   $(13)   $17    $37


  (8)  The third quarter of 2006 includes $23 million of income related to a
       reduction of the reserve for hardboard siding claims and charges of
       $7 million for the impairment of fixed assets related to production
       curtailments.  The first quarter of 2005 includes a $12 million
       charge related to the settlement of a linerboard antitrust lawsuit.
       The second quarter of 2005 includes an $18 million charge related to
       alder litigation and $57 million of income related to the recognition
       of a deferred gain from previous timberlands sales.  The fourth
       quarter of 2005 includes a $38 million charge related to the
       settlement of linerboard antitrust litigation.

  (9)  The first quarter of 2006 includes income of $8 million related to
       a warranty insurance recovery.

  (10) The third and fourth quarters of 2005 include charges of $21 million
       and $15 million, respectively, related to the early extinguishment of
       debt.

  (11) The third quarter of 2005 includes a $115 million gain on the sale
       of an investment in a joint venture.

  (12) The third quarter of 2006 includes a $2 million charge and the fourth
       quarter of 2005 includes a $15 million charge related to the
       impairment of investments in equity affiliates.

  (13) The first quarter of 2006 includes recognition of $9 million of
       deferred income in connection with partnership restructurings.

  (14) The second quarter of 2006 includes a one-time tax benefit of
       $48 million related to a change in Texas state income tax law, a
       reduction in the Canadian federal income tax rate and a deferred
       tax adjustment related to the Medicare Part D subsidy.  The second
       quarter of 2005 includes a charge of $44 million related to the
       repatriation of $1.1 billion of eligible Canadian earnings under the
       provisions of the American Jobs Creation Act of 2004.  The third
       quarter of 2005 includes a one-time tax benefit of $14 million
       related to a change in the Ohio state income tax law.

  (15) Discontinued operations includes the net operating results of the
       company's coastal British Columbia operations and its North
       American and European composites operations.  The third quarter of
       2006 includes a pretax gain of $51 million and related tax expense of
       $18 million associated with the sale of the North American composites
       operations and an $8 million charge to write off additional goodwill
       associated with the coastal British Columbia operations.  The fourth
       quarter of 2006 includes a pretax gain of $45 million and related tax
       expense of $4 million associated with the sale of the Irish
       composites operations.  The second quarter of 2005 includes a gain of
       $110 million, including a tax benefit of $46 million, related to the
       sale of the coastal British Columbia operations.  The fourth quarter
       of 2005 includes a pretax gain of $57 million and related tax expense
       of $23 million associated with the sale of the French composites
       operations.



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  FOOTNOTES TO CONSOLIDATED EARNINGS
    (in millions)
                                                   Q4     Q4   Year-to-date
                                                  2006   2005   2006   2005
  (1)  Includes countervailing and
       anti-dumping duties and related
       costs:                                      $--    $16    $28    $84


  (2)  In the fourth quarter of 2005, Weyerhaeuser began capitalizing
       interest on qualifying assets of Weyerhaeuser Real Estate Company
       (WRECO).  These amounts are included in Weyerhaeuser capitalized
       interest.  Weyerhaeuser cost of products sold includes amounts
       recognized to expense previously capitalized interest in connection
       with the sale of WRECO assets.  The year-to-date 2005 amounts were
       recorded in the fourth quarter of 2005.  The net cumulative effect
       for years prior to 2005 was recorded in Weyerhaeuser other operating
       costs, net.  Weyerhaeuser results include the following related to
       capitalized interest on WRECO assets:


                                                   Q4     Q4   Year-to-date
                                                  2006   2005   2006   2005
       Cost of products sold:                      $13    $32    $35    $32
       Interest capitalized:                       (22)   (50)   (68)   (50)
       Other operating costs, net:                  --    (25)    --    (25)
                                                   $(9)  $(43)  $(33)  $(43)


  (3)  The third quarter of 2006 includes a $9 million charge related to the
       acquisition of OrganicID, a research and development company.

  (4)  The second quarter of 2006 includes an $18 million charge related to
       the restructuring of the Containerboard, Packaging and Recycling
       business model.

  (5)  See detail of closure charges by segment on page 4.

  (6)  The first and second quarters of 2006 include charges of $746 million
       and $3 million, respectively, for the impairment of goodwill
       associated with the fine paper business.


                                                   Q4     Q4   Year-to-date
                                                  2006   2005   2006   2005
  (7)  Includes net foreign exchange
       gains (losses), primarily from
       fluctuations in Canadian and New
       Zealand exchange rates:                     $16   $(21)   $28    $16


  (8)  The third quarter of 2006 includes $23 million of income related to a
       reduction of the reserve for hardboard siding claims and charges of
       $7 million for the impairment of fixed assets related to production
       curtailments.  The first quarter of 2005 includes a $12 million
       charge related to the settlement of a linerboard antitrust lawsuit.
       The second quarter of 2005 includes an $18 million charge related to
       alder litigation and $57 million of income related to the recognition
       of a deferred gain from previous timberlands sales.  The fourth
       quarter of 2005 includes a $38 million charge related to the
       settlement of linerboard antitrust litigation.

  (9)  The first quarter of 2006 includes income of $8 million related to
       a warranty insurance recovery.

  (10) The third and fourth quarters of 2005 include charges of $21 million
       and $15 million, respectively, related to the early extinguishment of
       debt.

  (11) The third quarter of 2005 includes a $115 million gain on the sale
       of an investment in a joint venture.

  (12) The third quarter of 2006 includes a $2 million charge and the fourth
       quarter of 2005 includes a $15 million charge related to the
       impairment of investments in equity affiliates.

  (13) The first quarter of 2006 includes recognition of $9 million of
       deferred income in connection with partnership restructurings.

  (14) The second quarter of 2006 includes a one-time tax benefit of
       $48 million related to a change in Texas state income tax law, a
       reduction in the Canadian federal income tax rate and a deferred
       tax adjustment related to the Medicare Part D subsidy.  The second
       quarter of 2005 includes a charge of $44 million related to the
       repatriation of $1.1 billion of eligible Canadian earnings under the
       provisions of the American Jobs Creation Act of 2004.  The third
       quarter of 2005 includes a one-time tax benefit of $14 million
       related to a change in the Ohio state income tax law.

  (15) Discontinued operations includes the net operating results of the
       company's coastal British Columbia operations and its North
       American and European composites operations.  The third quarter of
       2006 includes a pretax gain of $51 million and related tax expense of
       $18 million associated with the sale of the North American composites
       operations and an $8 million charge to write off additional goodwill
       associated with the coastal British Columbia operations.  The fourth
       quarter of 2006 includes a pretax gain of $45 million and related tax
       expense of $4 million associated with the sale of the Irish
       composites operations.  The second quarter of 2005 includes a gain of
       $110 million, including a tax benefit of $46 million, related to the
       sale of the coastal British Columbia operations.  The fourth quarter
       of 2005 includes a pretax gain of $57 million and related tax expense
       of $23 million associated with the sale of the French composites
       operations.



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  Net sales and revenues (in millions):

                                   Q1              Q2              Q3
                              March   March   June    June    Sept.   Sept.
                               26,     27,     25,     26,     24,     25,
                              2006    2005    2006    2005    2006    2005
  Timberlands:
     Logs                     $201    $182    $198    $195    $200    $188
     Other products             62      82      71      63      46      65
                               263     264     269     258     246     253
  Wood Products:
     Softwood lumber           782     892     857   1,032     733     889
     Plywood                   135     183     147     196     134     184
     Veneer                     13      13      13      10       9       9
     Composite panels          121     120     140     132      71     122
     OSB                       287     288     273     306     203     267
     Hardwood lumber            99      94     105     102      96      95
     Engineered I-Joists       169     150     202     202     162     186
     Engineered Solid
      Section                  204     179     231     228     190     226
     Logs                        7      27       5      24       5       6
     Other products            256     270     327     340     302     325
                             2,073   2,216   2,300   2,572   1,905   2,309
  Cellulose Fiber and White
   Papers:
     Pulp                      394     376     402     355     404     381
     Paper                     613     599     601     611     604     604
     Coated groundwood          40      42      44      47      42      45
     Liquid packaging board     46      47      62      52      59      50
     Other products             14      14      17      12      21      16
                             1,107   1,078   1,126   1,077   1,130   1,096
  Containerboard, Packaging
   and Recycling:
     Containerboard             82     117      84     101      92      86
     Packaging                 911     898   1,002     969     997     929
     Recycling                  80      92      85      92      89      87
     Bags                       20      22      20      21      23      20
     Other products             34      34      46      40      44      47
                             1,127   1,163   1,237   1,223   1,245   1,169

  Real Estate and Related
   Assets                      690     655     746     648     749     596

  Corporate and Other          116     149     117     151     123     146

  Less: sales of
   discontinued operations    (120)   (293)   (138)   (264)    (70)   (137)

                            $5,256  $5,232  $5,657  $5,665  $5,328  $5,432

  Contribution (charge) to
   pre-tax earnings:
   (in millions)                    Q1             Q2              Q3
                              March   March   June    June    Sept.   Sept.
                               26,     27,     25,     26,     24,     25,
                              2006    2005    2006    2005    2006    2005

  Timberlands (1) (2) (4)     $198    $200    $224    $210    $178    $191
  Wood Products (1) (2) (5)    117     131     131     204      11     124
  Cellulose Fiber and White
   Papers (1) (2) (6)         (763)     19      23      16     115      (2)
  Containerboard, Packaging
   and Recycling
   (1) (2) (7)                  22      48      74      99      96      36
  Real Estate and Related
   Assets (2) (8)              172     183     123     156     135     145
  Corporate and Other
   (1) (2) (3) (9)            (102)    (17)    (40)     99     (78)    101
                             $(356)   $564    $535    $784    $457    $595



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  Net sales and revenues (in millions):           Q4          Year-to-date
                                             Dec.    Dec.     Dec.     Dec.
                                              31,     25,      31,      25,
                                             2006    2005     2006     2005
  Timberlands:
      Logs                                   $182    $196     $781     $761
      Other products                           56      76      235      286
                                              238     272    1,016    1,047
  Wood Products:
      Softwood lumber                         625     811    2,997    3,624
      Plywood                                 113     172      529      735
      Veneer                                    7      12       42       44
      Composite panels                         25     123      357      497
      OSB                                     176     303      939    1,164
      Hardwood lumber                          98      99      398      390
      Engineered I-Joists                     137     166      670      704
      Engineered Solid
       Section                                169     200      794      833
      Logs                                      6       5       23       62
      Other products                          268     290    1,153    1,225
                                            1,624   2,181    7,902    9,278
  Cellulose Fiber and White
   Papers:
      Pulp                                    457     370    1,657    1,482
      Paper                                   652     603    2,470    2,417
      Coated groundwood                        45      46      171      180
      Liquid packaging board                   62      54      229      203
      Other products                           22      12       74       54
                                            1,238   1,085    4,601    4,336
  Containerboard, Packaging
   and Recycling:
      Containerboard                          119      91      377      395
      Packaging                             1,021     914    3,931    3,710
      Recycling                                91      81      345      352
      Bags                                     25      20       88       83
      Other products                           47      46      171      167
                                            1,303   1,152    4,912    4,707

  Real Estate and Related
   Assets                                   1,150   1,016    3,335    2,915

  Corporate and Other                         128     154      484      600

  Less: sales of
   discontinued operations                    (26)   (143)    (354)    (837)

                                           $5,655  $5,717  $21,896  $22,046

  Contribution (charge) to
   pre-tax earnings:
   (in millions)                                  Q4          Year-to-date
                                             Dec.    Dec.     Dec.     Dec.
                                              31,     25,      31,      25,
                                             2006    2005     2006     2005
  Timberlands (1) (2) (4)                    $167    $183     $767     $784
  Wood Products (1) (2) (5)                   110      26      369      485
  Cellulose Fiber and White
   Papers (1) (2) (6)                         120    (477)    (505)    (444)
  Containerboard, Packaging
   and Recycling
   (1) (2) (7)                                 71    (188)     263       (5)
  Real Estate and Related
   Assets (2) (8)                             293     250      723      734
  Corporate and Other
   (1) (2) (3) (9)                             (3)    (17)    (223)     166
                                             $758   $(223)  $1,394   $1,720



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)
  FOOTNOTES TO CONTRIBUTION (CHARGE) TO PRE-TAX EARNINGS
  (in millions)

  (1)  Closure charges by segment:        Q1    Q1    Q2    Q2    Q3    Q3
                                         2006  2005  2006  2005  2006  2005
       Timberlands                        $--    $3   $--   $--   $--   $--
       Wood Products                       --     1     1     1    10     6
       Cellulose Fiber and White Papers    (1)   --    11    --     4    22
       Containerboard, Packaging and
        Recycling                           2     4     5     2     3     1
       Corporate and Other                 --    --    --    --    26    --
                                           $1    $8   $17    $3   $43   $29

       The above closure charges for the third quarter of 2006 includes a
       $26 million charge in the Corporate and Other segment for the
       impairment of corporate assets related to the Prince Albert pulp and
       paper facility.  The first quarter and full year 2005 includes
       $3 million of costs incurred within the company's discontinued
       operations.


  (2)  Share-based compensation charges   Q1    Q1    Q2    Q2    Q3    Q3
        (income) recognized by segment:  2006  2005  2006  2005  2006  2005
       Timberlands                         $1   $--   $--   $--   $--   $--
       Wood Products                        2    --    --    --    --    --
       Cellulose Fiber and White Papers     1    --    --    --     1    --
       Containerboard, Packaging and
        Recycling                           2    --    (1)   --     1    --
       Real Estate and Related Assets      --    --     2    --    --    --
       Corporate and Other                 15     2    (5)   (6)    1     3
                                          $21    $2   $(4)  $(6)   $3    $3


                                          Q1    Q1    Q2    Q2    Q3    Q3
                                         2006  2005  2006  2005  2006  2005
  (3)  Net foreign exchange gains
       (losses) included in Corporate
       and Other:                        $(26)  $13   $20  $(12)  $17   $38


  (4)  Additional Timberlands notes:
       (a) Hurricane related losses were $5 million in third quarter 2005
           and $6 million in fourth quarter 2005.

  (5)  Additional Wood Products notes:
       (a) Refer to footnote 1 to Consolidated Earnings on page 1 regarding
           countervailing duty and anti-dumping costs included in Wood
           Products.
       (b) The fourth quarter of 2006 includes $344 million of income from
           the refund of countervailing and anti-dumping duties.
       (c) The third quarter of 2006 includes $23 million of income related
           to a reduction of the reserves for hardboard siding claims.  The
           second quarter of 2005 includes an $18 million charge related to
           alder litigation.  The third quarter of 2005 includes $9 million
           of income related to the reduction of reserves for alder
           litigation and an insurance settlement related to product
           liability claims.
       (d) The third quarter of 2006 includes a $51 million gain on the
           sale of the company's North American composites operations.
       (e) The third quarter of 2006 includes charges of $7 million for
           the impairment of fixed assets related to production
           curtailments.
       (f) The second quarter of 2005 includes a $6 million gain related
           to a tenure reallocation agreement with the British Columbia
           government.

  (6)  Additional Cellulose Fiber and White Papers notes:
       (a) The first and second quarters of 2006 include charges of
           $746 million and $3 million, respectively, for the impairment of
           goodwill associated with the fine paper business.

  (7)  Additional Containerboard, Packaging and Recycling notes:
       (a) The second and third quarters of 2006 include charges of
           $18 million and $3 million, respectively, related to the
           restructuring of the Containerboard, Packaging and Recycling
           business model.
       (b) The first and fourth quarters of 2005 include charges of
           $12 million and $38 million, respectively, associated with the
           settlement of linerboard antitrust lawsuits.
       (c) The third quarter of 2005 had a charge of $1 million related
           to hurricane damage.

  (8)  Additional Real Estate and Related Assets notes:
       (a) The first quarter of 2006 includes income of $8 million related
           to a warranty insurance recovery and income of $9 million related
           to recognition of deferred income in connection with partnership
           restructurings.
       (b) The first, second, third and fourth quarters of 2006 include net
           gains (losses) on land and lot sales of $33 million,
           ($1) million, $0, and $110 million, respectively, or $142 million
           year-to-date.  The fourth quarter of 2006 includes a $28 million
           gain on the sale of an apartment building.  The first, second,
           third and fourth quarters of 2005 include net gains (losses) on
           land and lot sales of $57 million, $21 million, ($1) and
           $2 million, respectively, or $79 million year-to-date.
       (c) The second, third, and fourth quarters of 2006 include charges
           for the impairment of assets of $3 million, $14 million, and
           $19 million, respectively, or $36 million year-to-date.
           The fourth quarter of 2005 includes a $33 million charge for the
           impairment of unimproved land.

  (9)  Additional Corporate and Other notes:
       (a) The fourth quarter of 2006 includes a $45 million pretax gain on
           the sale of the company's Irish composites operations.
           The second quarter of 2005 includes a $64 million pretax gain on
           the sale of the company's operations in coastal British Columbia
           and $57 million of income related to the recognition of a
           deferred gain from previous timberlands sales.  The third quarter
           of 2005 includes a $115 million gain on the sale of an investment
           in a joint venture.  The fourth quarter of 2005 includes a
           $57 million gain on the sale of the company's French composites
           operations.
       (b) The third quarter of 2006 includes an $8 million charge to write
           off additional goodwill associated with the coastal British
           Columbia operations.
       (c) The third quarter of 2006 includes a $2 million charge and the
           fourth quarter of 2005 includes a $15 million charge related to
           the impairments of investments in equity affiliates.
       (d) The third quarter of 2006 includes a $9 million charge related to
           the acquisition of OrganicID, a research and development company.



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)
  FOOTNOTES TO CONTRIBUTION (CHARGE) TO PRE-TAX EARNINGS
  (in millions)
                                              Q4      Q4      Year-to-date
                                             2006    2005     2006     2005
  (1)  Closure charges by segment:
       Timberlands                             $1      $3       $1       $6
       Wood Products                           48      91       59       99
       Cellulose Fiber and White Papers        (2)    427       12      449
       Containerboard, Packaging and
        Recycling                               4     130       14      137
       Corporate and Other                     --       5       26        5
                                              $51    $656     $112     $696

       The above closure charges for the third quarter of 2006 includes a
       $26 million charge in the Corporate and Other segment for the
       impairment of corporate assets related to the Prince Albert pulp and
       paper facility. The first quarter and full year 2005 includes
       $3 million of costs incurred within the company's discontinued
       operations.


                                              Q4      Q4      Year-to-date
                                             2006    2005     2006     2005
  (2)  Share-based compensation charges
       (income) recognized by segment:
       Timberlands                            $--     $--       $1      $--
       Wood Products                            1      --        3       --
       Cellulose Fiber and White Papers         1      --        3       --
       Containerboard, Packaging and
        Recycling                              --      --        2       --
       Real Estate and Related Assets          --      --        2       --
       Corporate and Other                      7      12       18       11
                                               $9     $12      $29      $11


                                              Q4      Q4      Year-to-date
                                             2006    2005     2006     2005
  (3)  Net foreign exchange gains
       (losses) included in Corporate
       and Other:                             $14    $(20)     $25      $19


  (4)  Additional Timberlands notes:
       (a) Hurricane related losses were $5 million in third quarter 2005
           and $6 million in fourth quarter 2005.

  (5)  Additional Wood Products notes:
       (a) Refer to footnote 1 to Consolidated Earnings on page 1 regarding
           countervailing duty and anti-dumping costs included in Wood
           Products.
       (b) The fourth quarter of 2006 includes $344 million of income from
           the refund of countervailing and anti-dumping duties.
       (c) The third quarter of 2006 includes $23 million of income related
           to a reduction of the reserves for hardboard siding claims.  The
           second quarter of 2005 includes an $18 million charge related to
           alder litigation.  The third quarter of 2005 includes $9 million
           of income related to the reduction of reserves for alder
           litigation and an insurance settlement related to product
           liability claims.
       (d) The third quarter of 2006 includes a $51 million gain on the
           sale of the company's North American composites operations.
       (e) The third quarter of 2006 includes charges of $7 million for
           the impairment of fixed assets related to production
           curtailments.
       (f) The second quarter of 2005 includes a $6 million gain related
           to a tenure reallocation agreement with the British Columbia
           government.

  (6)  Additional Cellulose Fiber and White Papers notes:
       (a) The first and second quarters of 2006 include charges of
           $746 million and $3 million, respectively, for the impairment of
           goodwill associated with the fine paper business.

  (7)  Additional Containerboard, Packaging and Recycling notes:
       (a) The second and third quarters of 2006 include charges of
           $18 million and $3 million, respectively, related to the
           restructuring of the Containerboard, Packaging and Recycling
           business model.
       (b) The first and fourth quarters of 2005 include charges of
           $12 million and $38 million, respectively, associated with the
           settlement of linerboard antitrust lawsuits.
       (c) The third quarter of 2005 had a charge of $1 million related
           to hurricane damage.

  (8)  Additional Real Estate and Related Assets notes:
       (a) The first quarter of 2006 includes income of $8 million related
           to a warranty insurance recovery and income of $9 million related
           to recognition of deferred income in connection with partnership
           restructurings.
       (b) The first, second, third and fourth quarters of 2006 include net
           gains (losses) on land and lot sales of $33 million,
           ($1) million, $0, and $110 million, respectively, or $142 million
           year-to-date.  The fourth quarter of 2006 includes a $28 million
           gain on the sale of an apartment building.  The first, second,
           third and fourth quarters of 2005 include net gains (losses) on
           land and lot sales of $57 million, $21 million, ($1) and
           $2 million, respectively, or $79 million year-to-date.
       (c) The second, third, and fourth quarters of 2006 include charges
           for the impairment of assets of $3 million, $14 million, and
           $19 million, respectively, or $36 million year-to-date.  The
           fourth quarter of 2005 includes a $33 million charge for the
           impairment of unimproved land.

  (9)  Additional Corporate and Other notes:
       (a) The fourth quarter of 2006 includes a $45 million pretax gain on
           the sale of the company's Irish composites operations.  The
           second quarter of 2005 includes a $64 million pretax gain on the
           sale of the company's operations in coastal British Columbia and
           $57 million of income related to the recognition of a deferred
           gain from previous timberlands sales.  The third quarter of 2005
           includes a $115 million gain on the sale of an investment in a
           joint venture.  The fourth quarter of 2005 includes a $57 million
           gain on the sale of the company's French composites operations.
       (b) The third quarter of 2006 includes an $8 million charge to write
           off additional goodwill associated with the coastal British
           Columbia operations.
       (c) The third quarter of 2006 includes a $2 million charge and the
           fourth quarter of 2005 includes a $15 million charge related to
           the impairments of investments in equity affiliates.
       (d) The third quarter of 2006 includes a $9 million charge related to
           the acquisition of OrganicID, a research and development company.



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  Third party              Q1                 Q2                 Q3
  sales volumes:   March 26, March 27, June 25, June 26, Sept. 24, Sept. 25,
                      2006     2005     2006     2005      2006      2005

  Timberlands
  (thousands):
    Logs - cunits      935      864      808      863       850       886

  Wood Products
  (millions):
    Softwood lumber
     - board feet    1,921    2,057    2,113    2,355     1,974     2,179
    Plywood - square
     feet (3/8")       389      537      458      600       437       558
    Veneer - square
     feet (3/8")        61       60       63       59        48        51
    Composite panels
      - square
      feet (3/4")      302      299      324      317       139       308
    Oriented strand
     board - square
     feet (3/8")     1,000      908    1,069    1,041       989     1,008
    Hardwood lumber
     - board feet      103      102      110      114       100       105
    Engineered
      I-Joists -
      lineal feet      114      108      137      138       110       125
    Engineered Solid     1
      Section - cubic
      feet               9        9       11       10         9        10
    Logs - cunits
     (in thousands)     55      187       46      177        26        41

  Cellulose Fiber
  and White Papers
  (thousands):
    Pulp - air-dry
     metric tons       651      629      647      587       625       653
    Paper - tons       753      736      662      742       641       757
    Coated
     groundwood
     - tons             52       58       59       62        59        56
    Liquid packaging
     board - tons       56       60       71       65        72        64
    Paper converting
     - tons            511      475      474      494       462       494

  Containerboard,
  Packaging and
  Recycling
  (thousands):
    Containerboard
     - tons            211      295      189      259       202       238
    Packaging
     - MSF          18,342   17,354   19,168   18,600    18,425    18,560
    Recycling
     - tons            733      692      719      695       678       665
    Kraft bags and
     sacks - tons       20       23       20       22        22        22

  Real Estate and
  Related Assets:
    Single-family
     homes sold      1,472    1,378    1,325    1,525       906     1,608
    Single-family
     homes closed    1,161    1,189    1,483    1,279     1,439     1,257
    Single-family
     homes sold
     but not
     closed at end
     of period       3,105    2,561    2,947    2,807     2,414     3,158


  Total                    Q1                 Q2                 Q3
  production       March 26, March 27, June 25, June 26, Sept. 24, Sept. 25,
  volumes             2006     2005     2006     2005      2006      2005

  Timberlands
  (thousands):
    Fee Depletion
     - cunits        2,132    2,248    2,083    2,231     2,040     2,098

  Wood Products
  (millions):
    Softwood
     lumber
     - board feet    1,663    1,821    1,650    1,869     1,559     1,651
    Plywood
     - square
     feet (3/8")       241      303      245      302       237       296
    Veneer
     - square feet
     (3/8") (1)        455      517      455      529       494       486
    Composite panels
     - square feet
     (3/4")            278      267      288      282       100       268
    Oriented strand
     board - square
     feet (3/8")     1,073    1,007    1,062    1,019     1,009     1,017
    Hardwood lumber
     - board feet       82       92       83       96        82        91
    Engineered
     I-Joists
     - lineal feet     121      133      136      132       130       108
    Engineered
     Solid Section
     - cubic feet       11       11       12       10        10        10

  Cellulose Fiber
  and White Papers
  (thousands):
    Pulp - air-dry
     metric tons       676      621      588      614       660       663
    Paper - tons (2)   724      763      672      752       675       765
    Coated
     groundwood
     - tons             56       55       56       59        59        60
    Liquid packaging
     board - tons       61       60       75       64        73        69
    Paper converting
     - tons            498      475      461      487       485       483

  Containerboard,
  Packaging and
  Recycling
  (thousands):
    Containerboard
     - tons (3)      1,575    1,503    1,533    1,581     1,544     1,597
    Packaging
     - MSF          19,550   18,628   20,290   19,915    19,341    19,416
    Recycling
     - tons (4)      1,716    1,624    1,684    1,673     1,641     1,716
    Kraft bags and
     sacks - tons       19       23       20       22        18        21

  (1) Veneer production represents lathe production and includes volumes
      that are further processed into plywood and engineered lumber products
      by company mills.
  (2) Paper production includes unprocessed rolls and converted paper
      volumes.
  (3) Containerboard production represents machine production and includes
      volumes that are further processed into packaging and kraft bags and
      sacks by company facilities.
  (4) Recycling production includes volumes processed in Weyerhaeuser
      recycling facilities that are consumed by company facilities and
      brokered volumes.



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION (unaudited)

  Third party                                Q4          Year-to-date
  sales volumes:                      Dec. 31, Dec. 25, Dec. 31, Dec. 25,
                                        2006     2005     2006     2005

  Timberlands
  (thousands):
    Logs - cunits                        843      939     3,436     3,552

  Wood Products
  (millions):
    Softwood lumber
     - board feet                      1,863    2,059     7,871     8,650
    Plywood  - square
     feet (3/8")                         379      485     1,663     2,180
    Veneer - square
     feet (3/8")                          43       61       215       231
    Composite panels
     - square
     feet (3/4")                          37      305       802     1,229
    Oriented strand
     board - square
     feet (3/8")                       1,038      991     4,096     3,948
    Hardwood lumber
     - board feet                         99      106       412       427
    Engineered
     I-Joists -
     lineal feet                          95      113       456       484
    Engineered Solid
     Section - cubic
     feet                                  7        9        36        38
    Logs - cunits
     (in thousands)                       42       46       169       451

  Cellulose Fiber
  and White Papers
  (thousands):
    Pulp - air-dry
     metric tons                         698      633     2,621     2,502
    Paper - tons                         693      761     2,749     2,996
    Coated
     groundwood
     - tons                               64       56       234       232
    Liquid packaging
     board  - tons                        76       69       275       258
    Paper converting
     - tons                              485      501     1,932     1,964

  Containerboard,
  Packaging and
  Recycling
  (thousands):
    Containerboard
     - tons                              254      254       856     1,046
    Packaging
     - MSF                            18,932   19,117    74,867    73,631
    Recycling
     - tons                              745      676     2,875     2,728
    Kraft bags and
     sacks - tons                         27       22        89        89

  Real Estate and
  Related Assets:
    Single-family
     homes sold                          838    1,174     4,541     5,685
    Single-family
     homes closed                      1,753    1,922     5,836     5,647
    Single-family
     homes sold
     but not
     closed at end
     of period                         1,499    2,410     1,499     2,410


  Total                                      Q4           Year-to-date
  production                          Dec. 31, Dec. 25, Dec. 31, Dec. 25,
  volumes:                              2006     2005     2006     2005

  Timberlands
  (thousands):
    Fee Depletion
     - cunits                          2,195    2,153     8,450     8,730

  Wood Products
  (millions):
    Softwood
     lumber
     - board feet                      1,483    1,645     6,355     6,986
    Plywood
     - square
     feet (3/8")                         177      254       900     1,155
    Veneer
     - square feet
     (3/8") (1)                          335      447     1,739     1,979
    Composite panels
     - square feet
     (3/4")                                0      263       666     1,080
    Oriented strand
     board - square
     feet (3/8")                       1,022    1,035     4,166     4,078
    Hardwood lumber
     - board feet                         77       85       324       364
    Engineered
     I-Joists
     - lineal feet                        86      110       473       483
    Engineered
     Solid Section
     - cubic feet                          8       10        41        41

  Cellulose Fiber
  and White Papers
  (thousands):
    Pulp - air-dry
     metric tons                         664      604     2,588     2,502
    Paper - tons (2)                     725      780     2,796     3,060
    Coated
     groundwood
     - tons                               59       60       230       234
    Liquid packaging
     board - tons                         73       71       282       264
    Paper converting
     - tons                              487      505     1,931     1,950

  Containerboard,
  Packaging and
  Recycling
  (thousands):
    Containerboard
     - tons (3)                        1,608    1,587     6,260     6,268
    Packaging
     - MSF                            20,670   20,130    79,851    78,089
    Recycling
     - tons (4)                        1,788    1,730     6,829     6,743
    Kraft bags and
     sacks - tons                         25       22        82        88

  (1) Veneer production represents lathe production and includes volumes
      that are further processed into plywood and engineered lumber products
      by company mills.
  (2) Paper production includes unprocessed rolls and converted paper
      volumes.
  (3) Containerboard production represents machine production and includes
      volumes that are further processed into packaging and kraft bags and
      sacks by company facilities.
  (4) Recycling production includes volumes processed in Weyerhaeuser
      recycling facilities that are consumed by company facilities and
      brokered volumes.



  WEYERHAEUSER COMPANY
  STATISTICAL INFORMATION

  CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
  (in millions)
                          March 26,  June 25,  Sept. 24,  Dec. 31, Dec. 25,
  Assets                    2006      2006       2006      2006      2005
  Weyerhaeuser
     Current assets:
      Cash and short-term
       investments          $105      $113       $114      $223      $818
      Receivables, less
       allowances          1,807     1,920      1,816     1,569     1,707
      Inventories          2,036     1,899      1,983     1,929     1,885
      Prepaid expenses       433       427        440       437       414
      Assets of discontinued
       operations             53        51         36        --        52
         Total current
          assets           4,434     4,410      4,389     4,158     4,876
     Property and
      equipment           10,124    10,107      9,926    10,009    10,345
     Construction in
      progress               640       607        640       407       527
     Timber and timberlands
      at cost, less fee
      stumpage charged
      to disposals         3,702     3,696      3,665     3,682     3,705
     Investments in and
      advances to equity
      affiliates             475       479        490       499       486
     Goodwill              2,235     2,243      2,254     2,203     2,982
     Deferred pension
      and other assets     1,284     1,303      1,265     1,400     1,314
     Restricted assets
      held by special
      purpose entities       914       916        914       917       916
     Non current assets
      of discontinued
      operations             169       168         52                 171
                          23,977    23,929     23,595    23,275    25,322

  Real Estate and Related
   Assets
     Cash and short-term
      investments             39        36         13        20       286
     Receivables, less
      allowances             143       141        145       144        42
     Real estate in
      process of
      development and
      for sale             1,341     1,590      1,636     1,449     1,055
     Land being processed
      for development      1,298     1,282      1,355     1,365     1,037
     Investments in
      unconsolidated
      entities, less
      reserves                60        66         74        72        61
     Other assets            353       420        422       423       296
     Assets not owned,
      consolidated under
      FIN 46R                170       154        132       151       130
                           3,404     3,689      3,777     3,624     2,907
     Total assets        $27,381   $27,618    $27,372   $26,899   $28,229

  Liabilities and
   Shareholders'
   Interest

  Weyerhaeuser
     Current liabilities:
      Notes payable and
       commercial paper       $1        $2       $222       $72        $3
      Current maturities
       of long-term debt     693       551        492       494       381
      Accounts payable     1,181     1,210      1,142     1,048     1,227
      Accrued liabilities  1,252     1,326      1,098     1,515     1,622
      Liabilities of
       business held
       for sale               19        15         14        --        22
         Total current
          liabilities      3,146     3,104      2,968     3,129     3,255
     Long-term debt        6,938     7,075      7,082     7,069     7,404
     Deferred income
      taxes                3,998     3,909      3,848     3,691     4,032
     Deferred pension,
      other
      postretirement
      benefits and
      other liabilities    1,651     1,674      1,628     1,891     1,591
     Liabilities
      (nonrecourse to
      Weyerhaeuser) held
      by special purpose
      entities               763       765        762       765       764
     Non current
      liabilities of
      discontinued
      operations               3         4          4                   3
                          16,499    16,531     16,292    16,545    17,049
  Real Estate and
   Related Assets
     Notes payable and
      commercial paper        63       125        385        --         3
     Long-term debt          878       628        601       606       851
     Other liabilities       568       707        766       606       417
     Liabilities not
      owned, consolidated
      under FIN 46R          144       127        107       115       109
                           1,653     1,587      1,859     1,327     1,380
     Total liabilities    18,152    18,118     18,151    17,872    18,429
     Shareholders'
      interest             9,229     9,500      9,221     9,027     9,800
     Total liabilities
      and shareholders'
      interest           $27,381   $27,618    $27,372   $26,899   $28,229



  STATEMENT OF CASH FLOWS
  SELECTED INFORMATION (unaudited)

  (in millions)            Q1                 Q2                 Q3
                   March 26, March 27, June 25, June 26, Sept. 24, Sept. 25,
                      2006     2005     2006     2005      2006      2005
  (Weyerhaeuser only,
  excludes Real
  Estate & Related
  Assets)

    Net cash from
     operations      $(209)   $(203)    $565     $723      $102      $452
    Cash paid for
     property and
     equipment       $(182)   $(117)   $(184)   $(196)    $(173)    $(220)
    Cash paid for
     timberlands
     reforestation    $(12)    $(12)     $(9)     $(6)      $(6)      $(6)
    Cash received
     from issuances
     of debt           $--      $--      $--       $1        $3       $--
    Revolving credit
     facilities,
     notes and
     commercial
     paper
     borrowings,
     net              $(68)     $19      $19      $23      $195      $(40)
    Payments on
     debt            $(158)   $(404)    $(10)   $(206)     $(58)    $(986)
    Proceeds from
     the sale of
     operations        $--      $--      $--   $1,107      $187       $--
    Repurchases of
     common stock      $--      $--      $--      $--     $(332)      $--



  STATEMENT OF CASH FLOWS
  SELECTED INFORMATION (unaudited)

  (in millions)                              Q4          Year-to-date
                                      Dec. 31, Dec. 25, Dec. 31, Dec. 25,
                                        2006     2005     2006     2005
  (Weyerhaeuser only,
  excludes Real
  Estate & Related
  Assets)

    Net cash from
     operations                         $771     $648    $1,229    $1,620
    Cash paid for
     property and
     equipment                         $(273)   $(310)    $(812)    $(843)
    Cash paid for
     timberlands
     reforestation                      $(10)     $(8)     $(37)     $(32)
    Cash received
     from issuances
     of debt                              $1     $172        $4      $173
    Revolving credit
     facilities,
     notes and
     commercial
     paper
     borrowings,
     net                                $(95)     $73       $51       $75
    Payments on
     debt                                $(5)   $(582)    $(231)  $(2,178)
    Proceeds from
     the sale of
     operations                          $86     $102      $273    $1,209
    Repurchases of
     common stock                      $(340)    $(11)    $(672)     $(11)
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

CONTACT: media, Bruce Amundson, +1-253-924-3047, or investors, Kathryn
McAuley, +1-253-924-2058, both of Weyerhaeuser Company

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

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