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RAYONIER INC Director's Dealing 2006

May 19, 2006

31153_dirs_2006-05-19_c4222964-6e8b-48f2-a411-c395995fe47d.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2006-05-19

Reporting Person: KINCAID RICHARD D (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-05-19 Common Shares A 1500 Acquired 3876 Direct