Plum Creek Legacy News Releases

Plum Creek Announces Tax Treatment of 2007 Dividend

Jan 9, 2008

SEATTLE--(BUSINESS WIRE)--Jan. 9, 2008--Plum Creek Timber Company,Inc. (NYSE:PCL) today announced the tax treatment for dividenddistributions made in 2007 on its Common Stock.

For shareholders of Plum Creek Timber Company, Inc. stock, thetotal dividend distribution of $1.68 per share is classified forincome tax purposes as follows: $1.68 (100.0000%) is classified as a15% rate Capital Gain Dividend; and $0.00 (0.0000%) is classified asReturn of Capital.

The table below summarizes the income tax treatment of thecompany's 2007 dividends:

2007 Dividend Tax Reporting Information (Form 1099-DIV)
Plum Creek Timber Company, Inc.
Common Stock
CUSIP # 729251108
Ticker Symbol: PCL

             February      May      August    November                  Distri-   Distri-     Distri-    Distri-                  bution     bution     bution     bution     Total-------------------------- ---------- ---------- ---------- ----------Capital Gain Distributions(long-term 15% rate)          100.00000% 100.00000% 100.00000% 100.00000% 100.00000%-------------------------- ---------- ---------- ---------- ----------Nondividend Distributions(return of capital)         0.00000%   0.00000%   0.00000%   0.00000%   0.00000%-------------------------- ---------- ---------- ---------- ----------Total           100.00000% 100.00000% 100.00000% 100.00000% 100.00000%-------------------------- ---------- ---------- ---------- ----------

Plum Creek is the largest and most geographically diverse privatelandowner in the nation with 8.2 million acres of timberlands in majortimber producing regions of the United States and 10 wood productsmanufacturing facilities in the Northwest.

CONTACT:
Plum Creek Timber Company, Inc.
Investors: John Hobbs, 1-800-858-5347
Media: Robin Keegan, 1-888-467-3751

SOURCE: Plum Creek Timber Company, Inc.

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