RYN Rayonier Inc

Rayonier (NYSE:RYN) announced today tax reporting information for its 2006 cash dividends which consisted of 47 cents per share per quarter ($1.88 per share annualized). For 2006, the company said that 100 percent of the dividends is classified as Capital Gain Distribution, which is taxed at a maximum rate of 15 percent. Shareholders are encouraged to consult with their tax advisers as to their specific tax treatment of Rayonier dividends. Taxability of the company�s 2006 common stock dividends should not be presumed to be indicative or predictive of the taxability of future company dividends. About Rayonier Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. It owns, leases or manages 2.7 million acres of timber and land in the U.S., New Zealand and Australia. The company�s holdings include approximately 200,000 acres with residential and commercial development potential along the fast-growing Interstate 95 corridor between Savannah, Georgia, and Daytona Beach, Florida. Its Performance Fibers business is the world�s leading producer of high-value specialty cellulose fibers. Approximately 40 percent of the company�s sales are outside the U.S. to customers in more than 50 countries. For further information, visit the company�s website at www.rayonier.com. Complimentary copies of Rayonier press releases and other financial documents are available by calling 1-800-RYN-7611.