June 1, 2001

News Release:

June 2001 Short Term Outlook - 6 Year Projection

Resource Economics LLC is pleased to announce the completion of the June 2001 Short Term Outlook of our Timber Supply and Product Demand Service. Our Short Term Outlook includes 126 pages of text which includes 83 explanatory figures printed in color. Our Appendix Tables, numbering 109 pages, provide our detailed annual and quarterly analysis including illustrations in color that are instrumental in interpreting our data tables.

Our Short Term forecast includes quarterly projections for the next two years on a quarterly basis and also includes annual forecast data for the next six years. The forecast has six major sections, Macroeconomic Assumptions, Wood Products End Use Markets, Wood Products Production, Timber Supply, Products and Stumpage Prices and Costs, and Breakeven Analysis.

The Short Term Outlook also present summary forecast results for key manufacturing and producing states/areas. The following states/areas are included, Western Oregon, Western Washington, Idaho, Georgia, Mississippi, Alabama, Louisiana, North Carolina, Maine, and Wisconsin.

The results from our timber supply constrained equilibrium solution and accompanying log breakeven analysis will be an integral part of your corporate planning, operations, and financial strategy development. Please review our Table Of Contents, List Of Figures, and our Index Of Appendices which provides an overview of the depth and completeness of our Short Term Outlook.