RAYONIER INC — Director's Dealing 2014

Jan 9, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAYONIER INC (RYN)
CIK: 0000052827
Period of Report: 2014-01-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-07	Common Shares	A	9394.0000	$0.0000	Acquired	17112.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	5137.7108	Indirect

Footnotes

F1: Grant of restricted shares to vest January 7, 2017 assuming continued employment with Rayonier.

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