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WILLAMETTE REPORTS HIGHER FIRST-QUARTER EARNINGS

 PORTLAND, Ore., April 13 /PRNewswire/ -- Willamette Industries' (NASDAQ: WMTT) first-quarter earnings before two accounting changes were $30,896,000, or 56 cents per share, up 22 percent from first-quarter 1992 results of 46 cents per share and more than double the previous quarter's earnings of 24 cents per share, the company said today.
 Accounting changes to record FASB 106 and FASB 109, relating to post-retirement benefits and income taxes, added another 48 cents per share to bring total first-quarter earnings to $1.04 per share.
 Sales for the quarter were $633,022,000, up 13 percent over the first quarter of 1992.
 Strong lumber and plywood prices were a significant factor in the company's excellent first-quarter results, according to William Swindells, Willamette's chief executive officer. The log shortage in the Northwest and demand created by low home mortgage interest rates combined to drive lumber and plywood prices up during the quarter.
 The company's pulp and paper products continued to be plagued by weak markets. However, white paper product markets have shown recent signs of strength.
 Willamette Industries is a forest products company with 1.2 million acres of timberland in Oregon and the South. Its 92 manufacturing facilities make lumber, plywood, composite panels, pulp, paper, corrugated boxes, bags and communication papers.
 WILLAMETTE INDUSTRIES INC.
 FINANCIAL HIGHLIGHTS
 Quarter Ended March 31: 1993 1992
 Share Earns:
 Before accounting changes $ 0.56 $ 0.46
 Accounting changes 0.48 0.00
 Net earnings $ 1.04 $ 0.46
 Sales $ 633,022,000 $ 561,025,000
 Earnings before taxes 49,832,000 38,262,000
 Earnings after taxes and
 before accounting changes 30,896,000 23,722,000
 Accounting change -
 Net of tax 26,364,000 ---
 Net earnings 57,260,000 23,722,000
 Average shares outstanding 54,780,254 51,097,784
 -0- 4/13/93
 /CONTACT: J.A. Parsons of Willamette Industries, 503-273-5635/
 (WMTT)


CO: Willamette Industries ST: Oregon IN: PAP SU: ERN

LM -- SE010 -- 5229 04/13/93 12:29 EDT
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Date:Apr 13, 1993
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