<b>Weyerhaeuser Raises Bid for Willamette</b>

Weyerhaeuser Co. increased its takeover offer for rival Willamette Industries to $50 per share from $48 and vowed to press its hostile bid at a meeting of Willamette shareholders next month.

The new offer was outlined in a letter sent today to William Swindells, chairman of Willamette, and to the company's board of directors from Steve Rogel, chairman, president and CEO of Weyerhaeuser.

"Weyerhaeuser is as committed as ever to the proposed transaction, even if that means replacing a majority of your board with directors who respect the wishes of Willamette shareholders," Rogel said.

"Weyerhaeuser firmly believes that a combination of our two companies will result in a global forest products leader based in the Pacific Northwest. In the interests of all of Willamette's constituencies, we again ask that you negotiate a definitive agreement promptly."