PLUM CREEK, ROCKEFELLER TO PURSUE JV DEVELOPMENT IN THE SOUTHEAST

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LAKE CITY, FLA. — Plum Creek Timber Co. Inc. and the Rockefeller Group will pursue a joint venture development on 4,722 acres of land in the Southeast. Plans for the property, which is owned by Plum Creek, include manufacturing and distribution facilities, inland ports and office buildings. The agreement covers two large tracts of land: about 2,600 acres near Lake City in Columbia County, Fla., and about 2,122 acres near Dublin, in Laurens County, Ga. The companies have also agreed to review other land parcels owned by Plum Creek for consideration of future development opportunities. No timetable for evaluating potential developments has been announced.

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