Weyerhaeuser Announces the Estimated Number of Shares for the Stock Portion of the Special Dividend

Weyerhaeuser Company (NYSE:WY) today announced that it will distribute
approximately 324 million shares to pay the stock portion of the special
dividend.

This distribution is based on the average closing price for Weyerhaeuser
common stock on Aug. 24, 25, and 26 of $15.54.

The special dividend is payable to shareholders of record as of July 22
in connection with the company's previously announced intent to convert
to a real estate investment trust (REIT).

After paying the dividend, the company will have approximately 536
million common shares outstanding.

Weyerhaeuser expects to pay the special dividend on Sept. 1.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world′s largest forest products
companies, began operations in 1900. We grow and harvest trees, build
homes and make a range of forest products essential to everyday lives.
We manage our timberland on a sustainable basis in compliance with
internationally recognized forestry standards. At the end of 2009, we
employed approximately 14,900 employees in 10 countries. We have
customers worldwide and generated $5.5 billion in sales in 2009. Our
stock trades on the New York Stock exchange under the symbol WY.
Additional information about us is available at http://www.weyerhaeuser.com.

Weyerhaeuser Company

Media

Bruce Amundson, 253-924-3047

or

Analysts

Kathryn
McAuley, 253-924-2058