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Weyerhaeuser Company Completes Acquisition of Willamette Industries

Press release from the issuing company

FEDERAL WAY, Wash.--March 15, 2002--Weyerhaeuser today announced that it has completed its acquisition of Willamette Industries following the filing of articles of merger with the Secretary of State of the State of Oregon and the Secretary of State of the State of Washington. As of the close of business on March 14, Willamette Industries became a wholly owned subsidiary of Weyerhaeuser and shares of Willamette common stock not held by Weyerhaeuser were converted into the right to receive $55.50 in cash without interest when surrendered for payment. On Feb. 11, Weyerhaeuser announced that it had acquired approximately 97 percent of outstanding Willamette shares through a successful tender offer. Former shareholders of Willamette still holding Willamette stock will receive written instructions from Mellon Investor Services LLC, as Paying Agent, regarding the process for surrendering their shares and receiving payment. Trading of Willamette shares on the New York Stock Exchange ceased at the end of trading on March 14.