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Weyerhaeuser Announces Expiration of Early Tender Period for the Maximum Tender Offer
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Federal Way, Washington, USA, 23 May 2007 -- /PRNewswire/ -- Weyerhaeuser Company (NYSE:WY) announced the expiration of the early tender period for its Maximum Tender Offers.

According to the information provided by Global Bondholder Services Corporation, the depositary for the tender offers, USD 834,655,000 in aggregate principal amount of the notes were validly tendered and not validly withdrawn in the Maximum Tender Offers at or before 5:00 p.m. Eastern time, on 22 May 2007 (the Early Tender Date). The consideration to be paid pursuant to the Maximum Tender Offers will be determined at 2:00 p.m. Eastern time, on 04 June 2007.

Under the terms and conditions specified in the Offer to Purchase dated 09 May 2007, the maximum principal amount to be accepted in the Maximum Tender Offers and any and all offers (which expired at 5:00 p.m., Eastern time, on 16 May 2007) will be USD 825,000,000. The maximum principal amount to be accepted by Weyerhaeuser pursuant to the Maximum Tender Offers will be USD 519,483,000. USD 305,517,000 had previously been validly tendered and accepted for purchase in the any and all offers.

The table below sets forth more fully the amount of securities validly tendered and accepted in the tender offers. Because the principal amount of 6.95% Debentures due 01 August 2017, validly tendered and not validly withdrawn on or before the early tender date exceeded the Maximum Principal Amount to be accepted, Weyerhaeuser will not purchase any of its 7.375% Debentures due 15 March 2032, in the Maximum Tender Offers. Securities of this class that have been tendered will be returned promptly to the tendering holders. Depending on the number of securities tendered before the expiration of the Maximum Tender Offers, Weyerhaeuser may not purchase securities of additional series.

Offer for Securities Listed Below: Maximum Tender Offers ($ = USD)
Percentage of
Principal Outstanding
Acceptance Principal Amount Amount
Priority Title of Amount Tendered to Tendered to
Level Security Outstanding date date


7.50%
Debentures
due 01 March
1 2013 $250,000,000 $93,571,000 37.43%

7.950%
Debentures
due 15 March
2 2025 $250,000,000 $113,967,000 45.59%

7.85%
Debentures
due 01 July
3 2026 $200,000,000 $99,901,000 49.95%

5.95%
Debentures
due 01 November
4 2008 $524,873,000 $191,295,000 36.45%

6.95%
Debentures
due 01 August
5 2017 $300,000,000 $94,720,000 31.57%

7.375%
Debentures
due 15 March
6 2032 $1,250,000,000 $241,201,000 19.30%


Holders of securities subject to the Maximum Tender Offers who validly tendered and did not validly withdraw their securities on or before the Early Tender Date, will receive the applicable Tender Offer Consideration. Holders of securities subject to the Maximum Tender Offers who validly tender their securities after the Early Tender Date and on or before the Maximum Tender Offers expiration date will receive the applicable Late Tender Offer Consideration, which is the applicable Tender Offer Consideration minus the applicable Early Tender Premium per USD 1000 principal amount of securities tendered by such holder that are accepted for purchase. Holders of securities subject to the Maximum Tender Offers who validly tendered their securities on or before the Early Tender Date may not withdraw their securities after the Early Tender Date except in the limited circumstances described fully in the Offer to Purchase. Holders of the securities subject to the Maximum Tender Offers who validly tender their securities after the Early Tender Date but on or before the Maximum Tender Offers expiration date may not withdraw their securities except in the limited circumstances described in the Offer to Purchase.

J.P. Morgan Securities Inc. and Banc of America Securities LLC are the dealer managers for the offers. Morgan Stanley & Co. Inc. and Citigroup Global Markets, Inc. are the co-dealer managers for the offers. Global Bondholder Services Corporation is the Depositary and Information Agent.

Persons with questions regarding the offers should contact J.P. Morgan Securities Inc. toll free at (866) 834-4666 or collect at (212) 834-4077, Attn. Liability Management Group or Banc of America Securities LLC toll free at (866) 475-9886 or collect at (704) 386-3244, Attn. Liability Management Group. Requests for documents should be directed to Global Bondholder Services Corporation toll free at (866) 804-2200 or collect at (212) 430-3774.

Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2006, sales were USD 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 www.weyerhaeuser.com.

Source: Weyerhaeuser Company


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