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PLUM CREEK ANNOUNCES INTENT TO PURCHASE CHAMPION'S MONTANA TIMBERLANDS

 SEATTLE, July 19 /PRNewswire/ -- Plum Creek Timber Co., L.P., (NYSE: PCL) announced today that it has signed a letter of intent to purchase approximately 867,000 acres of timberland owned by Champion International Corp. in western Montana for approximately $260 million. Plum Creek said the purchase would not include Champion's Montana mills.
 The proposed acquisition is subject to a number of material conditions. Should all conditions be satisfied, the transaction is expected to close in the fourth quarter of 1993.
 David D. Leland, chairman, president and chief executive officer said, "This acquisition fits the company from a strategic point of view and also makes good financial sense -- that is, providing satisfactory returns and not putting our cash distribution at risk.
 "The location and age of the Champion timberlands complements our current timberland holdings in Montana very well," Leland stated. "The expanded timber resource base would allow more flexibility in the management of our lands and reduce our reliance on public timber. We will employ our innovative 'Environmental Forestry' program as we do throughout our lands, using advanced standards of forest management and stewardship."
 Plum Creek is an integrated forest products company with timberlands and mills located in the Pacific Northwest.
 -0- 7/19/93
 /CONTACT: Shelley Monfor, 206-467-3613, or Sharon Kanareff, 800-535-0631, of Plum Creek Timber/
 (PCL)


CO: Plum Creek Timber Co. ST: Washington IN: PAP SU:

SB-AL -- SE009 -- 3276 07/19/93 17:30 EDT
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Date:Jul 19, 1993
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