Plum Creek Legacy News Releases

Plum Creek and The Timber Company Merger Rescheduled to Close Oct. 6, 2001 Due to NYSE Closure

Sep 16, 2001

ATLANTA and SEATTLE – Sept. 17, 2001 – Plum Creek Timber Company, Inc. (NYSE: PCL) and The Timber Company (NYSE: TGP) today announced that due to the suspension of trading on the New York Stock Exchange, the two companies have rescheduled their pending merger to become effective on Oct. 6, 2001. The Timber Company is a separate operating group of Georgia-Pacific Corp. (NYSE: GP).

As a pre-condition to the merger, Georgia-Pacific will redeem all outstanding shares of common stock of The Timber Company. Under its articles of incorporation, Georgia-Pacific is required to give notice of the redemption of its common stock to its stockholders at least 30 “trading days” prior to the redemption. To make up for the trading days lost, each outstanding share of The Timber Company common stock will be redeemed by Georgia-Pacific on Oct. 5, 2001, rather than Sept. 28, 2001, as previously scheduled.

All other terms and conditions applicable to the redemption of The Timber Company common stock and the merger will continue to remain in full force and effect.

Plum Creek, a real estate investment trust, is one of the largest land owners in the nation, with timberlands in the Northwest, Southern, and Northeast regions of the United States and nine wood product mills in the Northwest.

Headquartered at Atlanta, The Timber Company is a separate operating group of Georgia-Pacific and its performance is reflected in one of the corporation's two common stocks. The Timber Company manages 4.7 million acres of timberland in the United States and sells timber and wood fiber to industrial wood users.

Contacts:
John Hobbs
Director, Investor Relations
(206) 467-3628

Greg Guest
Director, External Communications
Georgia-Pacific Corp
(404) 652-4739

Bob Jirsa
Director, Corporate Affairs
Plum Creek Timber Co.
(206) 467-3626
www.plumcreek.com

Rich Good
Director, Investor Relations
Georgia-Pacific Corp.
(404) 652-4720
www.gp.com

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