growing” at Weyerhaeuser, we’re talking about more than the billions of trees we’ve planted. We’re making a statement about our ability to further increase shareholder returns. We’re stating there’s a company in our industry that represents an outstanding long-term investment opportunity. We’re saying that company is Weyerhaeuser. Few forest products companies can match the resources we’re deploying to meet this objective.

We begin with an outstanding work force. Like you, the men and women of Weyerhaeuser are part owners of this business. Through our Performance Share Plan, employees receive stock if our performance exceeds certain measures relative to our peer group and the Standard and Poor’s 500. This is not automatic, however, as demonstrated by the fact that we have not paid out on the plan in the years where we’ve failed to meet all of the program’s criteria. As owners, employees have an additional incentive to improve performance and better align their interests with those of other shareholders. >