The Campbell Group and Hampton Affiliates Exchange Timberland
Portland, Oregon - March 8, 2002 - The Campbell Group, LLC, on behalf of Lincoln Timber LLC (Lincoln), and Hampton Affiliates are pleased to announce that they have signed a Letter of Intent for Lincoln to acquire approximately 93,500 acres of commercial forestland in southwest Washington from Mid-Valley Resources, Inc. (Mid-Valley), a subsidiary of Hampton Affiliates. The majority of the forestland is located northwest of Longview, Washington in Cowlitz and Lewis Counties. Mid-Valley will receive cash and approximately 68,000 acres of forestland now owned by Lincoln in Whatcom, Skagit and Snohomish Counties in exchange for the forestland sold. The transaction is expected to close on or before April 30, 2002.
"We are pleased to reach agreement to purchase these lands," said Stan Renecker, Managing Director of Acquisitions for The Campbell Group. "They consist of some of the highest quality, most productive forests in the world, and are important contributors to the local and regional economies. Our future management of the properties will focus on continuing the production of high-quality timber for the domestic and export markets."
Ron Parker, CEO of Hampton Affiliates, also expressed enthusiasm for the transaction. "While we are selling an outstanding tree farm, we are acquiring productive timberlands that are strategically important and will provide a valuable base of supply for our mill in Darrington, Washington, that was acquired just last month."
The Campbell Group, LLC (http://www.campbellgroup.com) Is a full-service timberland investment management company headquartered in Portland, Oregon. The company is primarily focused on acquiring and managing investment grade forestland on behalf of institutional investors. TCG currently manages over 800,000 acres in the Pacific Northwest, and is the second largest forestland investment management organization in the United States, with assets of approximately $1.6 billion under management.
Hampton Affiliates (http://www.hamptonaffiliates.com) is a privately owned forest products company based in Portland, Oregon. In 2001 Hampton was ranked as the 9th largest private company by Oregon Business Magazine in its "Private 150" listing. The company owns over 180,000 acres of softwood timberland in the Northwest. The Darrington mill joins Hampton's three Oregon sawmills and two stud mills in Randle and Morton, Washington. The company also has wholesale and distribution operations, and last year marketed over 1.5 billion board feet of lumber.
For more information, contact Jim McCauley or Stan Renecker at The Campbell Group at (503)275-9675, or Ron Parker or Steve Zika at Hampton Affiliates at (503)297-7691.