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March 1, 2000 News Release: Pending Issues #1 The March 1999 pending issue contains six sections. The first is a descriptive update of the macroeconomic drivers for the US and Canada used in our December 1999 Long Term Outlook. The update includes information that was not available before the completion of our Long Term Outlook, this includes information from the 3rd and 4th quarters of 1999. Comparisons are also made with the actual 1999 end of year data and our projected 1999 end of year data. A detailed analysis of the definitional and statistical changes of the US Government's data is also presented and the necessary adjustments for returning to the previous basis are given. The second section provides an update of our end use markets and compares actual 1999 end-of-year data with our projected 1999 end-of-year data. Explanations are then presented for the small differences that came about in some markets. The third section addresses the timber supply issues facing the five South Atlantic states (Florida, Georgia, South Carolina, North Carolina, Virginia). In-depth inventory analysis of each state is graphically presented. Historical trends and explanations are also discussed. The fourth section graphically and textually presents what the five South Atlantic individual state harvests should be in order to obtain sustainability. The fifth section titled "Arkansas Timberland Inventory, What Is It?", contains a detailed analysis of the US Forest Service publications for the state of Arkansas. Comparisons of data between the survey/publication periods are made and the differences are noted and explained where possible. Non-descriptive definitional changes in the USFS publications between survey/publication periods are also presented. The sixth section compares and updates our composite product prices and log prices in our 1999 Long Term Outlook, with the end-of-year actual prices. Composite product prices are projected and explained quarterly for the year 2000. West Coast dimension log and southern dimension sawtimber quarterly prices are also presented. Available
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