SEATTLE–(EMWNews)–Plum Creek Timber Company, Inc. (NYSE:PCL) today announced a quarterly

cash dividend of $0.42 per share. The dividend is payable on Aug. 29,

2008, to shareholders of record as of Aug. 15, 2008. Plum Creek’s

dividend is expected to be characterized as long-term capital gain

income primarily because the income generated by the sale of Plum Creek’s

timber is considered long-term capital gain. As such, Plum Creek’s

dividend is expected to be taxed at a maximum rate of 15 percent for

most U.S. taxpayers.

Plum Creek is the largest and most geographically diverse private

landowner in the nation with approximately 8 million acres of

timberlands in major timber producing regions of the United States and

10 wood products manufacturing facilities in the Northwest.

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