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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
849213	Plum Creek Timber Co Inc	PCL	Real Estate Investment Trusts (6798)	911912863

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1212981	A James Kilberg	999 Third Ave, Ste 4300 Seattle WA 98104-4096	Svp, Real Estate	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2011-02-10	9,000	$30.91	35,924	No	4	M	Direct
Common Stock	Disposition	2011-02-10	9,000	$41.80	26,924	No	4	S	Direct
Common Stock	Acquisiton	2011-02-10	10,000	$35.74	36,924	No	4	M	Direct
Common Stock	Disposition	2011-02-10	10,000	$41.80	26,924	No	4	S	Direct
Common Stock	Acquisiton	2011-02-10	10,000	$33.75	36,924	No	4	M	Direct
Common Stock	Disposition	2011-02-10	10,000	$41.80	26,924	No	4	S	Direct
Common Stock	Acquisiton	2011-02-10	5,500	$35.22	32,424	No	4	M	Direct
Common Stock	Disposition	2011-02-10	5,500	$41.80	26,924	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (2004 SIP)	Disposition	2011-02-10	9,000	$0.00	9,000	$30.91
Common Stock	Stock Option (2006 SIP)	Disposition	2011-02-10	10,000	$0.00	10,000	$35.74
Common Stock	Stock Option (2009 SIP)	Disposition	2011-02-10	10,000	$0.00	10,000	$33.75
Common Stock	Stock Option (2010 SIP)	Disposition	2011-02-10	5,500	$0.00	5,500	$35.22

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2014-02-02	No	4	M	Direct
0	2016-02-03	No	4	M	Direct
10,000	2019-02-09	No	4	M	Direct
16,500	2020-02-08	No	4	M	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (2005 SIP)	$37.49	2015-02-09	9,000	9,000	Direct
Common Stock	Stock Option (2007 SIP)	$40.42	2017-02-05	15,000	15,000	Direct
Common Stock	Stock Option (2008 SIP)	$42.98	2018-02-04	15,000	15,000	Direct
Common Stock	Stock Option (2011 SIP)	$41.55	2021-02-07	22,000	22,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2015-02-09	9,000	9,000	Direct
2017-02-05	15,000	15,000	Direct
2018-02-04	15,000	15,000	Direct
2021-02-07	22,000	22,000	Direct

Footnotes

The sales of common stock reported in this Form 4 were executed through several individual broker transactions and are being disclosed in Table I on an aggregated basis. All sale transactions occurred within a one dollar price range and the reported sale price of $41.7975 represents the weighted average sale price for the aggregated sale transactions reported herein. The range of sale prices for the sale of 34,500 shares was $41.72 to $41.8560. The Reporting Person hereby undertakes to provide the SEC Staff, the Issuer or any security holder of the Issuer with full information regarding the number of shares of common stock sold by the Reporting Person at each separate price upon request.
The option granted under the Plum Creek Stock Incentive Plan provides the right to purchase common stock at the fair market value thereof on the date of grant and becomes exercisable after vesting. The option vests in four equal annual installments beginning one year after the date of grant.