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PLUM CREEK TIMBER CO., L.P., ANNOUNCES SPECIAL MEETING VOTING RESULTS

 SEATTLE, Aug. 12 /PRNewswire/ -- Plum Creek Timber Co., L.P., (NYSE: PCL) announced today that its unitholders approved two proposals at a special meeting held today.
 The Special Meeting of Unitholders, announced in April, had been called by the board of directors of Plum Creek to obtain unitholder approval of two proposed actions, the first being the authorization of the partnership to redeem up to 1,250,000 of its deferred participation interests (DPIs). The second proposal involves an amendment to the partnership agreement.
 The first proposal received an affirmative vote of at least 10,090,501 units, representing approximately 75 percent of the units entitled to vote. Proposal 2 received an affirmative vote of at least 9,979,483 units, representing approximately 74 percent of the units entitled to vote.
 With respect to the proposed redemption of the DPIs, the independent Conflicts Committee of the board of directors will negotiate with the holder of the DPIs the terms of a redemption taking into account current market conditions and other relevant factors. There can be no assurances that the negotiators will be successful or that a transaction will occur.
 Plum Creek is an integrated forest products company with timberlands and mills located in the Pacific Northwest.
 -0- 8/12/93
 /CONTACT: Shelley Monfor of Plum Creek Timber Co., L.P., 206-467-3613/
 (PCL)


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

AL-SB -- SE003 -- 2160 08/12/93 13:58 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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