Longview Fibre Company

LONGVIEW, Wash.--(BUSINESS WIRE)--Feb. 20, 2007--Longview Fibre Company (NYSE: LFB), a real estate investment trust (REIT), directs investors to its web site, www.longviewfibre.com, to confirm the tax treatment for its dividend distributions made in 2006 on its common stock. This information has been provided previously for Form 1099-DIV purposes but some brokers may have distributed 1099-DIV tax forms based on preliminary data.

The Company made regular quarterly dividends reflecting distributions of capital gains, taxable to most taxpayers at a 15% rate. A special dividend, made on August 7, 2006, had the primary purpose of distributing the pre-REIT earnings and profits which, for income tax purposes, is classified as ordinary qualified dividend. The special dividend also included a small capital gain distribution. The quarterly dividend with a record date of December 15, 2006, that was paid on January 3, 2007, will be reported in 2007. The table below summarizes the tax treatment of each of the company's dividends declared in 2006:

		
	Distribution
	Date           April 4, July 3, August 7, October 3,    January 3,
	                 2006    2006     2006       2006          2007
	               -------- ------- --------- ---------- -----------------
	
	Distribution
	Per share       $.25     $.30    $7.54      $.23           $.23
	
	Capital gain
	Distribution     100%    100%    5.2264%     100%    To report in 2007
	
	Qualified
	Dividend
	distribution                    94.7736%
	
	The taxability of the company's 2006 dividends on common stock
	should not be considered to be indicative of future tax treatment of
	dividends. Shareholders are encouraged to consult with their tax
	advisers as to their specific tax treatment of Longview Fibre Company
	dividends.
	
	
	    CONTACT: Longview Fibre Company
	             Steve Buhaly, Senior Vice President and Chief Financial
	             Officer
	             360-425-1550
	
	    SOURCE: Longview Fibre Company