RAYONIER INC — Director's Dealing 2012

Oct 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2012-10-26

Reporting Person: BOYNTON PAUL G (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-26	Common Shares	G	97429.0000	$0.0000	Acquired	97429.0000	Indirect
2012-10-26	Common Shares	G	97429.0000	$0.0000	Disposed	2390.0000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	168858.5000	Direct
Common Shares	10385.4196	Indirect

Footnotes

F1: Mr. Boynton is the trustee and holds a pecuniary interest in the trust.

F2: Shares are held in the Rayonier Investment and Savings Plan, a 401(k) plan, for this person's account.