Pope Resources Quarterly Distribution

  
    
  
  
    
      Pope Resources (Nasdaq:POPEZ) announced today a quarterly distribution 
      of 28 cents per unit, effective for unitholders of record on March 9, 
      2007 and payable on March 23, 2007.
    
    
      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.