RAYONIER INC — Director's Dealing 2014

Jan 31, 2014

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2013-12-31

Reporting Person: VANDENNOORT HANS E (SR VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-10	Common Shares	G	526.0000	$0.0000	Acquired	116109.1407	Direct
2013-12-10	Common Shares	G	1575.0000	$0.0000	Disposed	0.0000	Indirect
2013-12-10	Common Shares	G	526.0000	$0.0000	Acquired	526.0000	Indirect
2013-12-10	Common Shares	G	526.0000	$0.0000	Acquired	526.0000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	90338.0000	Indirect
Common Shares	7328.0908	Indirect

Footnotes

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