SEATTLE, May 19 /PRNewswire/ -- U.S. Timberlands Company, L.P.
(Nasdaq: TIMBZ) today announced that it made its initial quarterly
distribution to Unitholders. The Minimum Quarterly Distribution is $0.50 for
the first quarter of 1998. In addition to the first quarterly distribution,
Unitholders of record as of May 5, 1998, also received $0.23 as the pro-rata
portion of the Minimum Quarterly Distribution for the period from
November 19, 1997, the day the Company completed its initial public offering,
through December 31, 1997, bringing the total distribution to Unitholders to
$0.73.
U.S. Timberlands Company, L.P. owns 633,000 fee acres of timberland and
cutting rights on 3,000 acres of timberland containing total merchantable
timber volume estimated to be approximately 2.1 billion board feet in Oregon
east of the Cascade Range. U.S. Timberlands specializes in the growing of
trees and the sale of logs and standing timber. Logs harvested from the
timberlands are sold to unaffiliated domestic conversion facilities. These
logs are processed for sale as lumber, molding products, doors, millwork,
commodity, specialty and overlaid plywood products, laminated veneer lumber,
engineered wood I-beams, particleboard, hardboard, paper and other wood
products. These products are used in residential, commercial and industrial
construction, home remodeling and repair and general industrial applications
as well as a variety of paper products. U.S. Timberlands also owns and
operates its own seed orchard and produces approximately five million conifer
seedlings annually from its nursery, approximately half of which are used for
its own internal reforestation programs, with the balance sold to other forest
products companies. Additional information on U.S. Timberlands is available
on the Company's website at http://www.ustimberlands.com.
Certain information discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities law.
Although U.S. Timberlands believes that expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give
no assurance that its expectations will be achieved. Forward-looking
information is subject to certain risks, trends and uncertainties that could
cause actual results to differ materially from those projected. Such risks,
trends and uncertainties include the highly cyclical nature of the forest
products industry, the possibility that timber supply could increase if
governmental, environmental or endangered species policies change, and
limitations on U.S. Timberlands' ability to harvest its timber due to adverse
natural conditions or increased governmental restrictions. For a more
complete description of factors which could impact U.S. Timberlands and the
statements contained herein, reference should be made to U.S. Timberlands'
filings with the Securities and Exchange Commission.
SOURCE U.S. Timberlands Company L.P.
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Related links:
http://www.ustimberlands.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 128507
CONTACT:
John C. McDowell of U.S. Timberlands Company,
L.P., 206-652-5000; or Allison Wey, 212-704-4424, or Stefanie
King, 212-704-8291, both of Edelman Financial for U.S.
Timberlands
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