FEDERAL WAY, Wash., Apr 21, 2003 (BUSINESS WIRE) -- Weyerhaeuser Company (NYSE:WY) today said it believes that a number of issues erroneously led a jury to rule against Weyerhaeuser in an antitrust suit involving alder logs in the Pacific Northwest. The company is vigorously contesting the verdict.

Weyerhaeuser has taken a non-cash, after-tax charge of $52 million, or 23 cents per share, against first quarter earnings to cover the damages awarded by the jury. Weyerhaeuser will announce first quarter earnings on April 25 before the market opens.

"We continue to believe that we competed fairly in the marketplace," said Robert A. Dowdy, vice president and general counsel. "Based on this belief, we are vigorously pursuing every opportunity to have this decision reversed."

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2002, sales were $18.5 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.

Weyerhaeuser Company
Bruce Amundson, 253/924-3047 (Media)
Kathryn McAuley, 253/924-2058 (Analysts)

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