Recent Actions

• Actions Completed in 2008
• Actions Announced in 2008 and First Quarter 2009

Actions Completed in 2008

Acquisitions/New Capacity

• Partitioned Uruguay investment and increased our ownership of forestlands and operation

Sales/Divestitures

• Containerboard, packaging and recycling business
• Australian operations
• Select U.S. distribution facilities
• 5,000 U.S. real estate lots

Closures

• Select U.S. distribution facilities
• 3 softwood lumber sawmills (OR, WA, SK)
• 2 oriented strand board facilities (AB, NB)
• 1 veneer facility (SK)
• 1 hardwood lumber sawmill (BC)
• 2 packaging locations (HI, MD)

Actions Announced in 2008 and First Quarter 2009

Acquisitions/New Capacity

• Completed construction of 2 new softwood lumber sawmills (OR, WA)

Sales/Divestitures

• Trus Joist® Commercial division (offered for sale)
• Railroads (offered for sale)

Closures

• Select U.S. distribution facilities
• 3 softwood lumber sawmills (OK, OR, WA)
• 1 veneer facility (WA)
• Select U.S. Weyerhaeuser Realty Investors offices