SOUTHERN HEMISPHERE STRATEGY

• Establish a scale position as one of the lowest-cost global softwood and hardwood timber growers.
• Produce plantation softwood and hardwood raw materials and finished products for structural and appearance uses for the Northern Hemisphere, Australasian and Mercosur markets.

INTERNATIONAL OPERATIONS OVERVIEW

• Total acres owned or managed: 514,000
• Annual harvest from owned or managed forest steady rate: 3,000 acres
• Acres that will be owned or managed after the partitioning of our Uruguay joint ventures: 357,879
• Offshore employees: 2,730 (excluding employees of joint ventures: 1,889)

URUGUAY

• Weyerhaeuser is general partner in:
  - Colonvade S.A. (owned 50 percent by Weyerhaeuser, 50 percent by Global Forest Partners)
  - Los Piques S.A. and Vandora S.A. (owned 50 percent by Weyerhaeuser, 50 percent by GFP GTI6)
  
• Colonvade investment dates back to 1997. Los Piques and Vandora were acquired from West Fraser in 2001.
• The joint ventures collectively manage 128,000 hectares (318,000 acres), of which 87,000 hectares are planted.
• These plantation forests are predominantly loblolly pine and Eucalyptus grandis.
• Los Piques plywood mill is in full operation with a production capacity of 120,000 cubic meters. Construction to almost triple capacity is under way and expected to be completed in 2009.
• Contracts were signed with Global Forest Partners for the partitioning of the Colonvade S.A., Los Piques S.A. and Vandora S.A. joint ventures. Final government approval was received in March 2008.
• After partition of the joint ventures, Weyerhaeuser will own and manage 66,000 hectares (163,090 acres) of the total 128,000 hectares (318,000 acres) previously owned and managed by the joint venture.
• Weyerhaeuser Uruguay S.A. is a wholly owned Weyerhaeuser subsidiary that owns and manages 54,050 hectares (133,560 acres). During 2007, 21,141 acres were planted.

BRAZIL

• Weyerhaeuser is managing partner in Brazil joint venture.
• Ownership is 67 percent Weyerhaeuser and 33 percent Aracruz Celulose SA.
• Hardwood sawmill with 31 million board feet of capacity produces high-value eucalyptus (Lyptus®) lumber and related appearance wood products.

NEW ZEALAND

• New Zealand joint venture — Nelson Forests Joint Venture — was sold to our partners, Global Forest Partners, during 2007.

AUSTRALIA

• Weyerhaeuser wholly owns and manages two sawmills and is the managing partner in the GTFP and PSA joint ventures.
• Emphasis is on softwood manufacturing and marketing; includes some plantation pines (24,000 hectares) and long-term supply contracts.
• Mature forests (20,000 hectares) and converting facilities were acquired from CSR in 1999 and 2000.

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