SEATTLE, Jul 23, 2002 (BUSINESS WIRE) -- Plum Creek Timber Company, Inc.(NYSE:PCL) today announced a quarterly cash dividend of $0.57 per share, payableon August 30, 2002, to shareholders of record as of August 16, 2002.

Plum Creek, a real estate investment trust, is one of the largest land owners inthe nation, with over 7.8 million acres of timberlands in every region of theUnited States and ten wood product manufacturing facilities in the Northwest.

More information on Plum Creek Timber Co. may be accessed at:http://www.businesswire.com/cnn/pcl.shtml.

CONTACT:
Plum Creek Timber Co.
Barbara W. Garland (Investor Relations)
206/467-3600 or 800/858-5347
www.plumcreek.com

URL: http://www.businesswire.com
Copyright (C) 2002 Business Wire. All rights reserved.