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Weyerhaeuser Tender Offer for Willamette Industries Extended to October 17, 2001

Press release from the issuing company

FEDERAL WAY, Wash.-- Sept. 14, 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 October 17, 2001. As of 5:00 p.m., New York City time, on September 10, 2001, Willamette shareholders had tendered and not withdrawn approximately 32.7 million shares pursuant to Weyerhaeuser's tender offer.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, October 17, 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.