Plum Creek Announces Tax Treatment of 2007 Dividend

SEATTLE--(Business Wire)--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

-0-
*T
February May August November
Distri- Distri- Distri- Distri-
bution bution bution bution Total
-------------------------- ---------- ---------- ---------- ----------
Capital Gain
Distributions
(long-term 15%
rate) 100.00000% 100.00000% 100.00000% 100.00000% 100.00000%
-------------------------- ---------- ---------- ---------- ----------
Nondividend
Distributions
(return of
capital) 0.00000% 0.00000% 0.00000% 0.00000% 0.00000%
-------------------------- ---------- ---------- ---------- ----------
Total 100.00000% 100.00000% 100.00000% 100.00000% 100.00000%
-------------------------- ---------- ---------- ---------- ----------
*T

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.

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

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