Seattle, Washington, USA, 08 November 2010 -- (BUSINESS WIRE) -- Plum Creek Timberlands, L.P., a wholly owned subsidiary and operating partnership of Plum Creek Timber Company, Inc. (NYSE:PCL), announced today the pricing of its public offering of USD 575 million aggregate principal amount of senior unsecured notes due 2021.

The notes will bear interest at 4.70% per year and mature on 15 March 2021. The offering is expected to close on 15 November 2010. Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and RBS Securities Inc. acted as joint book-running managers of the offering.

The notes will be senior unsecured obligations of Plum Creek Timberlands, L.P. and will be fully and unconditionally guaranteed by Plum Creek Timber Company, Inc. Plum Creek Timberlands, L.P. intends to use the net proceeds from the offering primarily to repay a portion of certain outstanding indebtedness.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. A prospectus supplement and accompanying prospectus describing the terms of this offering will be filed with the SEC. Copies of the prospectus supplement and the accompanying prospectus may be obtained, at no cost, by viewing the filings of Plum Creek Timberlands, L.P. and Plum Creek Timber Company, Inc. on the SEC Web site at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus for the offering can be obtained from Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; Merrill Lynch, Pierce, Fenner & Smith Incorporated, 100 West 33rd Street, 3rd Floor, New York, NY 10001, Attention: Prospectus Department, telephone: 1-800-294-1322 or by e-mailing dg.prospectus_requests@baml.com; or RBS Securities Inc., toll-free: 1-866-884-2071.

Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.