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Weyerhaeuser Expects Second Quarter Earnings To Be On Target

Press release from the issuing company

FEDERAL WAY, Wash.-June 26, 2001--Weyerhaeuser Company today said that it expects second quarter earnings to be between 70 to 75 cents per share. Stronger than expected wood products prices and a one-time adjustment due to changes in the Canadian corporate tax rate were the primary reasons the company adjusted its second quarter earnings outlook. These positive effects will be somewhat offset by costs associated with the strike of four West Coast operations by the Association of Western Pulp and Paper Workers (AWPPW), extensive market downtime in the Pulp, Paper and Packaging segment and costs associated with Westwood Shipping Line's transition to a new charter fleet. The company will hold a live conference call at 11 a.m. EDT (8 a.m. PDT) today to discuss the revised earnings outlook. Richard J. Taggart, vice president and treasurer, and Kathryn F. McAuley, managing director-Investor Relations, will participate on the call. To access the conference call, listeners calling from within North America should dial 877/888-3490 at least 15 minutes prior to the start of the conference. Those wishing to access the call from outside North America should dial 1-416/695-5261. Replays of the call will be available for 48 hours following completion of the live call and can be accessed at 888/509-0081 within North America and at 1-416/695-9728 from outside North America.