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Plum Creek and The Rockefeller Group to Pursue Development of 4,722 Acres in the Southeastern U.S.



  Plum Creek and The Rockefeller Group to Pursue Development of 4,722 Acres in
  the Southeastern U.S.

Business Wire

SEATTLE -- January 31, 2013

Plum Creek Timber Company, Inc. (NYSE: PCL), and The Rockefeller Group, the
global real estate investment and development company, today announced a
memorandum of understanding to evaluate and pursue joint venture development
projects on 4,722 acres of land in the southeastern United States owned by
Plum Creek.

The initial agreement covers two large tracts of land, including approximately
2,600 acres in Columbia County, Fla., near the municipality of Lake City, as
well as approximately 2,122 acres in Laurens County, Ga., near the
municipality of Dublin. The companies have also agreed to review other land
parcels owned by Plum Creek for consideration of future development
opportunities. The tracts are intended for commercial development, including
manufacturing and distribution facilities as well as inland ports and office
buildings.

“As a large landowner, we recognize that a portion of our lands are well
suited for commercial development,” said Rick Holley, president and chief
executive officer at Plum Creek. “During this important stage of economic
recovery, the time is right to collaborate with The Rockefeller Group on this
forward-looking venture. Given their experience and expertise, we are
confident in their ability to pursue development of these select parcels and
identify other potential opportunities.”

“The Rockefeller Group is very pleased to join with Plum Creek to enhance the
value of these parcels to the benefit of the joint venture, its investors and
the local communities,” said Kevin R. Hackett, president and chief executive
officer of The Rockefeller Group.

“We are proud to have established this initiative with Plum Creek and hope
that it represents the start of a successful and long-term relationship,” said
Leslie E. Smith Jr., executive vice president of national development for The
Rockefeller Group.

Plum Creek is one of the largest landowners in the nation and the most
geographically diverse, with approximately 6.4 million acres of timberlands in
major timber producing regions of the United States and wood products
manufacturing facilities in the Northwest. For more information, visit
www.plumcreek.com.

The Rockefeller Group is a leading global real estate owner, developer and
investment manager. For more than 80 years the company has played a major role
in some of America’s most significant and recognizable real estate endeavors,
beginning with the development of Rockefeller Center in midtown Manhattan,
which remains widely regarded as among the world’s finest urban mixed-use
complexes. Since 2008, the company has completed approximately 5 million
square feet of industrial development in the United States.

Contact:

Plum Creek Timber Company, Inc.
Investors: John Hobbs, 1-800-858-5347
Media: Kathy Budinick, 1-888-467-3751
or
The Rockefeller Group
Media: Dwayne Doherty, 1-212-282-2130
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