Federal Way, Washington, USA 12 July 2007 — The board of directors of Weyerhaeuser Company Limited (TSX: WYL) on 12 July 2007, declared a dividend of USD 0.60 per share on the exchangeable shares of the corporation, payable 27 August 2007, to shareholders of record at the close of business 03 August 2007.

The dividend shall be paid in the Canadian dollar equivalent at the noon spot exchange rate on 12 July 2007, of 1.0469. The Canadian dollar equivalent amount is CAD 0.63.

Weyerhaeuser Company (NYSE: WY), one of the world's largest forest products companies, was incorporated in 1900. In 2006, sales were CAD 24.8 billion (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. Weyerhaeuser Company Limited, a wholly owned subsidiary, has Exchangeable Shares listed on the Toronto Stock Exchange under the symbol WYL. Additional information about Weyerhaeuser's businesses, products, and practices is available at http://www.weyerhaeuser.com.