Plum Creek Re-opens USD 225 Million in Bonds

Seattle, Washington, USA, 25 April 2006 -- (BUSINESS WIRE) -- Plum Creek Timberlands, L.P., a subsidiary of Plum Creek Timber Company, Inc. (NYSE:PCL) has re-opened bonds of nominal USD 225 million due 15 November 2015. The coupon of the bond is 5.875% and the issue price is 96.686%.

The bond carries a full guarantee from Plum Creek Timber Company. The net proceeds (without accrued interest) of approximately USD 216 million will be used to prefund upcoming debt maturities. The senior notes will be issued under Plum Creek Timberlands' shelf registration statement in the United States. The offering is expected to close on 02 May 2006.

Banc of America Securities LLC was sole book-running manager on the transaction. Copies of a prospectus relating to this offering may be obtained from Bank of America, Prospectus Department, 100 W 33rd Street, 3rd Floor, New York, NY 10001.

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