DIMENSION LUMBER PRICE COMPARISON 2009 to July 2014

Benchmark Western Spruce-Pine-Fir R/L KD 2x4 #2&Btr Douglas fir green 2x4 #2&Btr Western Spruce-Pine-Fir KD 2x4 PET Studs All prices US dollars per thousand board feet net fob mill

US DOUGLAS FIR LOG PRICES July 2009 to June 2014

All prices US dollars per thousand board feet Scribners long log scale

SOURCE: Google Finance

SHARE PRICES:

Deltic Timber, Rayonier, Weyerhaeuser, Plum Creek Timber July 2013 to July 2014

Share prices of American timberland companies in the past year

have ranged from 13% losses to 14% gains