Press Release

10/31/2007

The Campbell Group, LLC Completes Acquisition of 1.55 Million Acres of Southern Timberlands

PORTLAND, Ore. - October 31, 2007 - The Campbell Group, LLC, a Portland, Oregon-based timber investment management firm, announced today that The Campbell Opportunity Timber Fund has completed the acquisition of approximately 1.55 million acres of timberland from Austin, Texas-based Temple-Inland Inc. The timberland purchased is located in Texas, Louisiana, Georgia, and Alabama.

"The Temple-Inland forests represent some of the best managed, highest quality timberlands in the world.  Acquiring these forests allows us to further our commitment to timberland as a long-term asset and to continue our history of sound environmental stewardship," said John Gilleland, President of The Campbell Group.

"We believe that a program of sound environmental stewardship will help maximize the long-term value of these timberland assets. The Campbell Group will continue to manage and certify these timberlands under the requirements of the Sustainable Forestry Initiative®, a program established by foresters, conservationists, and scientists who support sustainable forestry practices," said Gilleland.

As part of the transaction, a portion of the harvest from the forests will supply pulp and sawlogs to the Temple-Inland mills under long-term supply agreements at market prices.

"We plan on continuing the excellent management practices incorporated by Temple-Inland. A majority of the forestry staff who worked for Temple-Inland have been offered job opportunities with The Campbell Group. These properties are important to the local economies, and we are looking forward to producing a high quality product for our customers and excellent results for our clients," said Gilleland.

With this acquisition, The Campbell Group's assets under management will span across 13 states with a total market value of over $4 billion. Twenty-six years ago, the firm began with five professionals and now will have more than 250 employees in 21 offices. The Campbell Group is built on a foundation of providing quality service and focusing on client objectives while emphasizing integrity. "Our ability to complete this acquisition is a testament to this foundation and focus," said Gilleland.

Morrison & Foerster LLP served as lead legal advisor to The Campbell Group and its investment Fund, along with Schwabe, Williamson & Wyatt. American AgCredit and Barclays Capital provided financing for a portion of the transaction.

The Campbell Group, LLC (www.campbellgroup.com) is a full-service timberland investment management company headquartered in Portland, Oregon.  The company is focused exclusively on acquiring and managing high quality, investment grade forestland on behalf of institutional investors to produce excellent risk-adjusted returns.

Temple-Inland Inc. operates four business segments: corrugated packaging, forest products, real estate, and financial services. Temple-Inland's common stock (TIN) is traded on the New York Stock Exchange. Temple-Inland's address on the World Wide Web is www.templeinland.com.

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Contact: Angie Davis
(503)275-9675
The Campbell Group, LLC
One SW Columbia, Suite 1700
Portland, Oregon 97258 USA