PLUM CREEK TIMBER (PCL $42.65 rated Overweight with $47 price target maintained) HIGHER LAND BASIS FOR REAL ESTATE SALES MOSTLY OFFSET BY HIGHER SOUTHERN HARVEST VOLUMES 7/29/2014

PLUM CREEK TIMBER (PCL $42.65 rated Overweight with $47 price target
maintained) HIGHER LAND BASIS FOR REAL ESTATE SALES MOSTLY OFFSET
BY HIGHER SOUTHERN HARVEST VOLUMES 7/29/2014