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Weyerhaeuser Tender Offer for Willamette Industries Extended

Monday, October 22, 2001

Press release from the issuing company

FEDERAL WAY, Wash.--Oct. 18, 2001--Weyerhaeuser Company today announced that it has extended its $50 per share cash tender offer for all of the outstanding common stock of Willamette Industries, Inc. until midnight, New York City time, on December 5, 2001. As of midnight, New York City time, on October 17, 2001, Willamette shareholders had tendered and not withdrawn approximately 51.7 million shares pursuant to Weyerhaeuser's tender offer. IMPORTANT INFORMATION Company Holdings, Inc. ("CHI''), a wholly owned subsidiary of Weyerhaeuser Company, has commenced a tender offer for all the outstanding shares of common stock of Willamette Industries, Inc. at $50.00 per share, net to the seller in cash, without interest. The offer currently is scheduled to expire at 12:00 midnight, New York City time, on Wednesday, December 5, 2001. CHI may extend the offer. If the offer is extended, CHI will notify the depositary for the offer and issue a press release announcing the extension on or before 9:00 a.m. New York City time on the first business day following the date the offer was scheduled to expire. Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2000, sales were $16 billion. It has offices or operations in 17 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at www.weyerhaeuser.com.




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