FEDERAL WAY, WA - Weyerhaeuser Company on Feb. 8 reported net earnings of $790 million for 2007, or $3.59 per diluted share, on net sales of $16.3 billion. This compares with net earnings of $453 million for 2006, or $1.84 per diluted share, on net sales of $18.7 billion.

For the fourth quarter 2007, Weyerhaeuser reported a net loss of $63 million, or $0.30 per diluted share, on net sales of $3.9 billion. Last year, Weyerhaeuser reported fourth quarter net earnings of $507 million, or $2.12 per diluted share, on net sales of $4.8 billion.

"Two-thousand seven was a challenging year for our industry and another busy one for Weyerhaeuser," said Steven Rogel, chairman and CEO. "We continued implementing international repositioning and growth strategies in timberlands, improved our Containerboard Packaging business operating performance and focused our Cellulose Fibers business on specialty grades of pulp. In addition, we completed our Fine Paper transaction with Domtar, which created meaningful value for our shareholders.

"But the continuing erosion of the U.S. housing market created very unfavorable market conditions for our Timberlands, Wood Products and Real Estate businesses," Rogel said. "Despite difficult market conditions, which we expect to continue through 2008, Weyerhaeuser remains focused on managing through the downturn and positioning the company to take full advantage of stronger markets once conditions improve."

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