October 2, 2008
Plum Creek Completes Formation of Joint Venture
Plum Creek Timber Co., Inc. (NYSE:PCL) today announced that on Oct. 1, it completed the formation of the previously announced joint venture with The Campbell Group LLC. The transaction allows Plum Creek to capture the value of approximately 454,000 acres in six southern states and values these timberlands at $783 million or approximately $1,725 per acre.
Additional information on the transaction is posted on the company's Web site at www.plumcreek.com/investors.