Press Release

6/28/2002

The Campbell Group Completes Exchange of Washington Forestland with Hampton Affiliates

PORTLAND, OR - June 28, 2002 - The Campbell Group, LLC, on behalf of Lincoln Timber LLC (Lincoln), announced today that it has successfully completed the acquisition of approximately 92,000 acres of commercial forestland in southwest Washington, primarily in Cowlitz and Lewis counties, from Mid-Valley Resources, Inc. (Mid-Valley), a subsidiary of Hampton Affiliates. The acquisition included a transfer to Mid-Valley of approximately 64,800 acres of forestland previously owned by Lincoln in Whatcom, Skagit and Snohomish Counties.

Announcing the closing, Stan Renecker, Managing Director of Acquisitions for The Campbell Group said, "This acquisition and exchange transaction represents a strategic repositioning by Lincoln and Mid-Valley and is a true 'win-win' for both companies.

The timberlands acquired by Lincoln are some of the most productive forestlands in the world and have a number of other attributes that complement Lincoln's portfolio objectives. Our management of the properties will focus on continuing the production of high-quality timber for the domestic and export markets."

The Campbell Group, LLC (http://www.campbellgroup.com) is a full-service Timberland Investment Management Organization (TIMO) headquartered in Portland, Oregon. The company is primarily focused on acquiring and managing high quality forestland on behalf of institutional investors. TCG currently manages over 800,000 acres in the Pacific Northwest, and is the second largest TIMO in the United States, with assets of over $1.5 billion. Lincoln Timber LLC is a Sustainable Forestry Initiative (SFISM) program participant and plans to include the acquired forestland in this forest certification system.

For more information, contact Jim McCauley or Stan Renecker at The Campbell Group at (503) 275-9675.