RYN Rayonier Inc

Rayonier (NYSE:RYN) announced today that the company's Board of Directors has declared a third quarter cash dividend of 62 cents per common share. The dividend is payable September 30, 2005, to shareholders of record on September 9, 2005. Rayonier has more than 2 million acres of timber and land in the U.S. and New Zealand and is the world's premier supplier of high performance specialty cellulose fibers. With customers in 50 countries, nearly 40 percent of the company's sales are outside the U.S. For further information, visit the company's website at http://www.rayonier.com. Complimentary copies of Rayonier press releases and other financial documents are available by calling 1-800-RYN-7611.