RAYONIER INC — Director's Dealing 2005

Dec 8, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2005-12-06

Reporting Person: NUTTER WALLACE LEE (Director, CHMN, PRES & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-06	Common Shares	S	100	$40.72	Disposed	769308.105	Direct
2005-12-06	Common Shares	S	100	$40.61	Disposed	769208.105	Direct
2005-12-06	Common Shares	S	100	$40.74	Disposed	769108.105	Direct
2005-12-06	Common Shares	S	100	$40.62	Disposed	769008.105	Direct
2005-12-06	Common Shares	S	100	$40.71	Disposed	768908.105	Direct
2005-12-06	Common Shares	S	200	$40.66	Disposed	768708.105	Direct
2005-12-06	Common Shares	S	400	$40.64	Disposed	768308.105	Direct
2005-12-06	Common Shares	S	1000	$40.67	Disposed	767308.105	Direct
2005-12-06	Common Shares	S	1481	$40.68	Disposed	765827.105	Direct
2005-12-06	Common Shares	S	2600	$40.65	Disposed	763227.105	Direct