<B>Willamette Closing Plywood Plant</B>

Willamette Industries announced plans to close its Ruston, La., plywood plant. Plant operations will be phased out over the remainder of the year with an estimated closure date of January 15, 2001. The plant employs 246 people. Willamette expects to take a $4 million pre-tax charge against earnings during the fourth quarter to account for the closure.

Willamette decided to close the plywood plant because it was no longer competitive. ``Our decision to close the plant was due primarily to shrinking markets for plywood products,'' said Duane McDougall, president and CEO. ``The principal product of the mill was commodity grade sheathing. Oriented strand board has made significant inroads into this market and we see this trend continuing.''

Discussions with the union representing the workers at the Ruston plant have begun to determine the details of the shutdown.

Willamette Industries owns nine other building materials operations within a 37-mile radius of the Ruston plant, employing 1,014 people. Displaced Ruston workers will be given the opportunity to apply at these facilities.