Press Release


John S. Gilleland Named President of The Campbell Group

PORTLAND, OR - March 19, 2002 - The Campbell Group, one of the nation's leading investment managers of timberland, announced the promotion of John S. Gilleland to President. This announcement was made by Duncan Campbell, who founded the firm in 1981 and serves actively as Chairman of the Board.

"For the last twenty years, John has been actively involved in every aspect of the firm," said Mr. Campbell. "We decided it was time to recognize his efforts. John has the background and experience at The Campbell Group and as an investment professional to provide the leadership necessary to build on the Company's recent success and our challenges well into the future."

Mr. Gilleland, 45, joined the Campbell Group in 1982 as one of the initial handful of employees at the firm's inception. During his tenure, he has been involved at a senior level in virtually all aspects of the firm's activities, most recently as Chief Financial Officer and Vice Chairman. In addition to his new responsibilities as President, he will continue to lead financial and growth activities on behalf of the Company and its investor clients.

Mr. Gilleland graduated from Oregon State University in Business Administration, Accounting and Finances. He is a licensed Certified Public Accountant in Oregon, and has served on a number of charitable boards during his tenure with The Campbell Group.

The Campbell Group also announced today that Stan Renecker has resumed his role as Managing Director of Acquisitions for the firm. Together with Mr. Gilleland and Mr. Campbell, he will serve on the Company's Board of Directors.

Mr. Campbell commented that "These announcements come on the heels of other important developments for the Company, including new client commitments and the firm's emphasis on serving its existing clients at the highest level. We now have over $1.6 billion of timberland under management and look forward to sustaining our growth momentum into the future. We have a very strong group of professionals at The Campbell Group. The promotion of John, together with other recent organizational improvements, will strengthen the firm's ability to grow and, at the same time, provide excellent client service and investment performance."

The Campbell Group (, a subsidiary of Old Mutual (US) Holdings, Inc. (formerly United Asset Management) is a timberland investment management company headquartered in the Pacific Northwest. The Company was founded in 1981 by Duncan Campbell to acquire, manage and dispose of timberland for individuals, trusts and institutional investors. Since 1985, the Company has focused almost exclusively on the institutional investor market.

Contact: Barb Haugen, The Campbell Group, (503)275-9675