Press Release

11/13/1998

The Campbell Group Enters into Agreement to Purchase 117,000 Acres of Timberland from Willamette Industries

Portland, Oregon - Nov. 13, 1998 - The Campbell Group announced today that it has signed a letter of intent to purchase 117,000 acres of forest lands in the state of Washington in the counties of Pacific, Wahkiakum, Cowlitz and Lewis from Willamette Industries.

The properties include a chipping plant and office located in Cathlamet, Washington. Willamette Industries acquired these assets as part of a larger timberland purchase from Cavenham Forest Industries in 1996.

"The purchase is expected to be completed by year end," said Stanley G. Renecker, Managing Director of Acquisitions for The Campbell Group.

The Campbell Group is a timber investment and management company. In its 17-year history, the company has been involved with over $1 billion of acquisitions and has managed over 600,000 acres.