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Weyerhaeuser Completes Exchange Offer for Debt Securities

Press release from the issuing company

FEDERAL WAY, Wash.--May 6, 2002--Weyerhaeuser announced today that it has accepted $750,000,000 aggregate principal amount of its outstanding unregistered 5.95 percent notes due in 2008 which have been tendered by holders pursuant to the company's exchange offer. The tendered notes were originally issued by Weyerhaeuser on October 22, 2001, in a private placement. Pursuant to the terms of the exchange offer, Weyerhaeuser will issue $750,000,000 aggregate principal amount of 5.95 percent notes due in 2008 which have been registered under the Securities Act of 1933 in exchange for the tendered unregistered notes.