Exhibit 99.1

[GEORGIA-PACIFIC LOGO]                                                  NEWS


Georgia-Pacific Corporation
133 Peachtree Street, N.E.
Atlanta, Georgia  30303


                                                         Date:  Aug. 15, 2001
                                                         Release No. C-1700


                SHAREHOLDERS OF GEORGIA-PACIFIC AND PLUM CREEK
                          APPROVE TIMBERLANDS MERGER


ATLANTA - The shareholders of The Timber Company (NYSE: TGP) and Plum Creek
Timber Company, Inc. (NYSE: PCL) today approved the merger of the two
companies. The Timber Company is a separate operating group of Georgia-Pacific
Corp. (NYSE: GP). The merger is expected to be effective on Oct. 1, 2001.

The transaction is valued at approximately $4 billion, based on Plum Creek's
closing stock price of $29.99 on Aug. 14, and includes an estimated $715
million of The Timber Company debt that Plum Creek will re-finance at closing.

Addressing Timber Company shareholders, A. D. "Pete" Correll, chairman and
chief executive officer of Georgia-Pacific, said, "Our creation of The Timber
Company in December 1997 resulted in a company that was focused on deriving
the greatest value from our timberlands ... a company that generated
consistent, reliable earnings for its shareholders for 14 consecutive quarters
and an outstanding total return over its history. This merger will provide the
right structure to grow these two companies even further in the future, with
shareholders receiving the benefits of investing in a literally coast-to-coast
manager of diversified timber and land assets when they operate together as
Plum Creek."

Addressing Plum Creek's shareholders, President and CEO Rick R. Holley said,
"Timber is a renewable resource - and a unique and valuable asset. This merger
will make Plum Creek the largest pure timber company in the U. S., with over
7.8 million acres in 19 states. For investors, the new company will offer a
highly advantageous way to own a well-managed and diversified portfolio of
timber and lands.

"Plum Creek will own timber in every growing region of the United States,"
added Holley, "including substantial holdings in the South, where faster
growth rates and strong long-term supply/demand dynamics make owning
timberlands particularly attractive. In addition, the merger will allow for
both short- and long-term increases in the company's sustainable harvest
rates, while the land base will offer diverse opportunities for value creation
and growth.

"The combined company will have the people and resources to maximize the value
of our assets," Holley continued. "Our combined expertise in intensive forest
management, fiber merchandising, land management, environmental management,
and marketing should provide immediate synergies."





Each outstanding share of Timber Company common stock will be redeemed by
Georgia-Pacific on Sept. 28, 2001, for a "unit" consisting of one outstanding
share of common stock of each of the six Georgia-Pacific subsidiaries which
collectively hold the assets and liabilities attributable to The Timber
Company. No action on the part of any Timber Company shareholder will be
necessary to effect the redemption. When the merger becomes effective, Timber
Company shareholders will be entitled to receive 1.37 shares of Plum Creek
common stock for each unit they receive in the redemption. Details and
procedures for surrendering Timber Company stock certificates in order to
receive Plum Creek shares will be mailed directly to Timber Company
shareholders after the merger closes.

Plum Creek, a real estate investment trust, is one of the largest land owners
in the nation, with timberlands in the Northwest, Southern, and Northeast
regions of the United States and nine wood product mills in the Northwest.

Headquartered at Atlanta, The Timber Company is a separate operating group of
Georgia-Pacific and its performance is reflected in one of the corporation's
two common stocks. The Timber Company manages 4.7 million acres of timberland
in the United States and sells timber and wood fiber to industrial wood users.


Investor Contacts:
                           Richard Good
                           Director, Investor Relations
                           Georgia-Pacific Corp.
                           (404) 652-4720

                           Emilio Ruocco
                           Director, Investor Relations
                           Plum Creek Timber Co.
                           (206) 467-3618 or 1-800-858-5347

Media Contacts:
                           Greg Guest
                           Director, External Communications
                           Georgia-Pacific Corp.
                           (404) 652-4739
                           www.gp.com

                           Robert J. Jirsa
                           Director, Corporate and Environmental Affairs
                           Plum Creek Timber Co.
                           206-467-3626
                           www.plumcreek.com