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Plum Creek Invests in Natural Resource Assets in Georgia

  Plum Creek Invests in Natural Resource Assets in Georgia

Business Wire

SEATTLE -- September 25, 2013

Plum Creek Timber Company, Inc., (NYSE: PCL) today announced it has entered
into an agreement to acquire an interest in approximately 255 million tons of
production at four quarries from Vulcan Materials Company (NYSE: VMC) for $154
million. The quarries are located in the metro Atlanta, Ga., market and will
continue to be operated by Vulcan. Beginning in October 2013, Plum Creek will
receive royalty payments from the production and sale of the crushed stone
from the quarries for approximately 25 years.

“This transaction is a unique opportunity for Plum Creek to increase our
interest in construction material production in the attractive southeastern
markets. These quarries are exceptionally well positioned for the recovery in
the infrastructure, industrial and housing sectors in and around Atlanta,”
said Rick Holley, chief executive officer of Plum Creek. “We believe we are
investing at the right time in the cycle, and the returns and long-term cash
flow profile from these assets are compelling.”

“Plum Creek’s unique long term approach to construction materials has allowed
us to build a portfolio of owned and acquired assets with excellent return
characteristics,” continued Holley. “Over the past several months,
institutional investors have expressed interest in investing in similarly
positioned construction material assets. We are exploring the potential to
pursue strategic partnerships that would allow us to leverage our experience
in this area and earn management income, while limiting the total capital
investment we make in this area of our business.”

Plum Creek is among the largest and most geographically diverse private
landowners in the nation with approximately 6.3million 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the Private Litigation Reform Act of 1995 as amended. Some of these
forward-looking statements can be identified by the use of forward-looking
words such as "expects", “will", “approximately”, “believe” and “potential”.
The accuracy of such statements is subject to a number of risks, uncertainties
and assumptions including, but not limited to, the demand for construction
materials, operational risks and the state of the general economy. It is
likely that if one or more of the risks materializes, or if one or more
assumptions prove to be incorrect, the current expectations of Plum Creek and
its management will not be realized. Forward-looking statements are not
guarantees of performance, and speak only as of the date made, and neither
Plum Creek nor its management undertakes any obligation to update or revise
any forward-looking statements.

Contact:

Plum Creek Timber Company, Inc.
Investors: John Hobbs, 1-800-858-5347
Media: Kathy Budinick, 1-888-467-3751
 
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