Pope Resources Increases Its Quarterly Distribution by 43%

  
    
  
  
    
      Pope Resources (Nasdaq:POPEZ) announced today a quarterly distribution 
      of 40 cents per unit, effective for unitholders of record on September 
      4, 2007 and payable on September 18, 2007. This represents a 12-cent, or 
      43%, increase from the prior quarterly distribution of 28 cents per 
      unit. “We are pleased to announce this 
      significant increase in our distribution payout, while at the same time 
      assuring that we have adequate capital to facilitate the company’s 
      future growth,” said David L. Nunes, President 
      and CEO.
    
    
      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.