The Board of Directors of Weyerhaeuser Company Limited (TSX: WYL) on July 12, 2007, declared a dividend of U.S. $0.60 per share on the exchangeable shares of the corporation payable August 27, 2007, to shareholders of record at the close of business August 3, 2007.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a
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The dividend shall be paid in the Canadian dollar equivalent at the noon spot exchange rate on July 12, 2007, of 1.0469 the Canadian dollar equivalent amount is CDN$0.63.

Weyerhaeuser Company (NYSE: WY), one of the world's largest integrated forest products companies, was incorporated in 1900. In 2005, sales were $27.4 billion ($22.7 billion US). 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. 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.

Contact: Media, Frank Mendizabal, +1-253-924-3357, or Analysts, Kathryn McAuley, +1-253-924-2058.

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SOURCE: Weyerhaeuser Company

CONTACT: Media, Frank Mendizabal, +1-253-924-3357, or Analysts, Kathryn
McAuley, +1-253-924-2058

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