RAYONIER INC — Director's Dealing 2011

Jun 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2011-06-23

Reporting Person: Wilson Nancy L (VP, Forest Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-23	Common Shares	I	1426.6748	$62.7400	Acquired	2710.4161	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	2600.0000	Direct

Footnotes

F1: Shares are held in the Rayonier Investment and Savings Plan, a 401(k) plan, for this person's account.