RAYONIER INC — Director's Dealing 2013

Feb 14, 2013

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2012-12-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-05	Common Shares	G	5000.0000	$0.0000	Disposed	163858.5000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	97429.0000	Indirect
Common Shares	2390.0000	Indirect
Common Shares	10328.2408	Indirect

Footnotes

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