SEATTLE--(BUSINESS WIRE)--June 8, 2004--Plum Creek Timber Company,Inc. (NYSE:PCL), one of the largest land and timber owners in thenation, is celebrating the 15th anniversary of its listing on the NewYork Stock Exchange (NYSE). To mark the event, company representativeswill ring The Closing Bell(TM) at the NYSE on Wednesday, June 9 at4:00 p.m. EDT.
In June 1989, Plum Creek spun off from Burlington Resources Inc.to become a master limited partnership and was listed on the NYSE. Atthat time, the company owned 1.4 million acres of timberland and wasthe second largest timber owner in the Pacific Northwest. Since then,the company has grown significantly. Today, Plum Creek is the secondlargest private timber owner in the nation and owns approximately 8million acres of timberland across 21 states.
"The true measure of Plum Creek's performance is the value wedeliver to shareholders," said Rick Holley, president and chiefexecutive officer. "I'm pleased to announce that since the companywent public, Plum Creek has delivered annualized total shareholderreturns of 19.7 percent, outperforming the S&P 500 returns of 11.2percent during this time. In 2003, Plum Creek delivered a totalshareholder return of 37 percent."
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.
CONTACT: Plum Creek Timber Company, Inc.
John Hobbs, 1-800-858-5347 (Investors)
Kathy Budinick, 206-467-3620 (Media)
SOURCE: Plum Creek Timber Company, Inc.