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RAYONIER INC Director's Dealing 2008

Jul 25, 2008

31153_dirs_2008-07-25_b0fd1ff7-026c-4ff3-95c2-a4c1491baf69.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: 2008-07-25

Reporting Person: MORGAN THOMAS I (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-07-25 Common Shares S 1000 $45.82 Disposed 8332 Direct
2008-07-25 Common Shares S 1400 $45.84 Disposed 6932 Direct
2008-07-25 Common Shares S 5432 $45.8 Disposed 1500 Direct