SEATTLE--(BUSINESS WIRE)--Aug. 25, 2004--Plum Creek TimberCompany, Inc. (NYSE:PCL) today filed an $800 million universal shelfregistration with the Securities and Exchange Commission (SEC). Oncethe SEC declares the registration effective, the company mayperiodically issue up to $400 million of equity securities and itsoperating partnership may issue up to $400 million of debt securities.

The shelf will provide the company with additional fundingflexibility and timely access to capital markets. No specifictransactions are planned at this time.

Plum Creek is one of the largest land and timber owners in thenation, with approximately 8 million acres of timberlands in majortimber producing regions of the United States and 10 wood productsmanufacturing facilities in the Northwest.

This press release includes forward-looking statements within themeaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended,relating to the filing of a registration statement with the SEC andthe expected benefits associated therewith. The company cannot sell orissue any of the securities registered on the registration statementunless and until it is declared effective by the SEC. There can be noassurance that the SEC will declare the registration statementeffective, or that the benefits of the registration statement willever be realized.

CONTACT: Plum Creek Timber Company, Inc.
Investors: John Hobbs, 1-800-858-5347
Media: Kathy Budinick, 1-206-467-3620

SOURCE: Plum Creek Timber Company, Inc.