Chart Plum Creek Legacy News Releases

Plum Creek Announces Tax Treatment of 2005 Dividend

Jan 17, 2006

SEATTLE--(BUSINESS WIRE)--Jan. 17, 2006--Plum Creek TimberCompany, Inc. (NYSE:PCL) today announced the tax treatment fordividend distributions made in 2005 on its Common Stock.

For shareholders of Plum Creek Timber Company, Inc. stock, thetotal dividend distribution of $1.52 per share is classified forincome tax purposes as follows: $1.324 (87.13340%) is classified as a15% rate Capital Gain Dividend; and $0.196 (12.86660%) is classifiedas Return of Capital.

The table below summarizes the income tax treatment of thecompany's 2005 dividends:

2005 Dividend Tax Reporting Information (Form 1099-DIV)Plum Creek Timber Company, Inc.Common StockCUSIP #  729251108Ticker Symbol:  PCL                February     May      August     November                 Distri-   Distri-     Distri-    Distri-                 bution     bution     bution     bution     Total-------------- ---------- ---------- ---------- ---------- ----------Capital Gain Distributions (long-term 15% rate)          87.13340%  87.13340%  87.13340%  87.13340%  87.13340%-------------- ---------- ---------- ---------- ---------- ----------Nondividend Distributions (return of capital)       12.86660%  12.86660%  12.86660%  12.86660%  12.86660%-------------- ---------- ---------- ---------- ---------- ----------Total          100.00000% 100.00000% 100.00000% 100.00000% 100.00000%-------------- ---------- ---------- ---------- ---------- ----------

Plum Creek is one of the largest private timberland owners in thenation, with more than 8 million acres of timberlands in major timberproducing regions of the United States and 10 wood productsmanufacturing facilities in the Northwest.

CONTACT: Plum Creek Timber Company, Inc.
Investors: John Hobbs, 800-858-5347
Media: Kathy Budinick, 206-467-3620

SOURCE: Plum Creek Timber Company, Inc.

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