Pope Resources Announces Reduced Harvest for 2008

  
    
  
  
    
      Pope Resources (Nasdaq:POPEZ) announced today its plan to reduce 2008 
      timber harvest volume by 33% from its long-term sustainable level. This 
      reduction in harvest volume is planned in response to expected soft 
      prices for logs in the coming year as the slowdown in housing starts has 
      curtailed demand for solid wood products. Rather than absorb materially 
      lower log prices on comparable year-to-year volumes, the Partnership is 
      opting instead to allow timber that otherwise would have been harvested 
      in 2008 to continue to grow. The Partnership’s 
      expectation is that when the Partnership ultimately harvests this 
      deferred volume, unitholders will benefit, from a discounted cash flow 
      perspective, through both biological growth and improved price 
      realization by waiting to harvest that timber when markets recover.
    
    
      About Pope Resources
    
    
      Pope Resources, a publicly traded limited partnership, and its 
      subsidiaries Olympic Resource Management and Olympic Property Group, own 
      or manage over 430,000 acres of timberland and development property in 
      Washington and Oregon. In addition, we provide forestry consulting and 
      timberland management services to third-party owners and managers of 
      timberland in Washington, Oregon, and California. The company and its 
      predecessor companies have owned and managed timberlands and development 
      properties for more than 150 years. Additional information on the 
      company can be found at www.orm.com. 
      The contents of our website are not incorporated into this release or 
      into our filings with the Securities and Exchange Commission.