Plum Creek Timber Company, Inc. Announces Quarterly Dividend of $0.42 Per Share

SEATTLE--(BUSINESS WIRE)--Plum Creek Timber Company, Inc. (NYSE: PCL) today announced a quarterly cash dividend of $0.42 per share. The dividend is payable on Aug. 29, 2008, to shareholders of record as of Aug. 15, 2008. Plum Creek’s dividend is expected to be characterized as long-term capital gain income primarily because the income generated by the sale of Plum Creek’s timber is considered long-term capital gain. As such, Plum Creek’s dividend is expected to be taxed at a maximum rate of 15 percent for most U.S. taxpayers.

Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 8 million acres of timberlands in major timber producing regions of the United States and 10 wood products manufacturing facilities in the Northwest.

Plum Creek Timber Company, Inc.
Investors:
John Hobbs, 1-800-858-5347
or
Media:
Robin Keegan, 1-888-467-3751