2007-05-04 14:40:29 -

FEDERAL WAY, Wash., May 4 /PRNewswire-FirstCall/ -- Weyerhaeuser Company today announced that its board of directors has authorized a process to consider a broad range of strategic alternatives for its Containerboard, Packaging and Recycling business. Alternatives range from continuing to hold and operate the assets to a possible sale or combination.

"We are positioning Weyerhaeuser to grow in areas that present the greatest opportunities for our shareholders and employees," said Steven R. Rogel, chairman, president and chief executive officer. "The Containerboard, Packaging and Recycling segment is operated by some

of the finest people in the industry, and I appreciate their ongoing efforts to improve the performance of these businesses throughout this process."

(Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b)

Weyerhaeuser will not speculate on the outcome of the review or whether it will result in any specific course of action.

Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2006, sales were $21.9 billion. It has offices or operations in 18 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 http://www.weyerhaeuser.com/.

For more information contact: Media - Bruce Amundson (253) 924-3047 Analysts - Kathryn McAuley (253) 924-2058

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Source: Weyerhaeuser Company