Plum Creek Announces Tax Treatment of 2007 Dividend

Business Wire, Jan 9, 2008

SEATTLE -- Plum Creek Timber Company, Inc. (NYSE:PCL) today announced the tax treatment for dividend distributions made in 2007 on its Common Stock.

For shareholders of Plum Creek Timber Company, Inc. stock, the total dividend distribution of $1.68 per share is classified for income tax purposes as follows: $1.68 (100.0000%) is classified as a 15% rate Capital Gain Dividend; and $0.00 (0.0000%) is classified as Return of Capital.

The table below summarizes the income tax treatment of the company's 2007 dividends:

2007 Dividend Tax Reporting Information (Form 1099-DIV)

Plum Creek Timber Company, Inc.

Common Stock

CUSIP # 729251108

Ticker Symbol: PCL

[TABLE OMITTED]

Plum Creek is the largest and most geographically diverse private landowner in the nation with 8.2 million acres of timberlands in major timber producing regions of the United States and 10 wood products manufacturing facilities in the Northwest.