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Weyerhaeuser News Release

Weyerhaeuser Announces Ex-Dividend Date for Special Dividend

FEDERAL WAY, Wash., July 15, 2010 Weyerhaeuser Company (NYSE: WY) today announced the New York Stock Exchange has notified the company that the ex‑dividend date for its recently declared $5.6 billion special dividend will be July 20, 2010. Weyerhaeuser expects to pay the special dividend, which includes the approximately $11 million regular third quarter dividend on Sept. 1, 2010 to shareholders of record on July 22, 2010.

On July 11, 2010, to satisfy one of the IRS requirements for Real Estate Investment Trust (REIT) election, Weyerhaeuser announced that its board of directors had declared the special dividend of $26.47 per share, based on 211.6 million shares outstanding.

Shareholders can elect stock or cash for the special dividend, with the total cash payment limited to 10 percent, or $560 million, of the total distribution.

Weyerhaeuser intends that the cash and stock portions of the dividend will be treated as a taxable dividend to its shareholders for 2010 federal income tax purposes.

A copy of the company’s prospectus on the special dividend is available on Weyerhaeuser’s website at http://investor.weyerhaeuser.com/phoenix.zhtml?c=92287&p=irol-sec. Select form 424B4 from the list of filings.

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.

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