RISI announces new senior economist

September 16, 2014, Boston, Mass. – RISI announced the
addition of Senior International Timber Economist John Turland to its wood
products and timber economic analysis group.

Turland comes to RISI from Greenwood Resources Inc., where
he most recently held the position of Director of Resource Planning &
Analysis. John has over 25 years of experience in the forestry sector,
including roles in China, Australia, New Zealand, SE Asia, Fiji, Brazil, Poland
and the United States. In his new role, John will work with current Director of
International Timber, Bob Flynn, to expand and enhance RISI's International
Timber services and offerings.

"We are delighted to welcome John to RISI. His wealth
of timber economic analysis, forecasting and modeling, along with the extensive
experience living in working in some key international timberland markets makes
him a perfect fit," said Dan Blenk, Director Wood & Timber Economic
Analysis, RISI.

"More and more of our clients are looking into, or
already are investing heavily into international timber markets, bringing John
onto the team really underscores RISI's continued focus and investment in this
market," continued Blenk.

"I'm pleased to join the RISI International Timber team
at a dynamic time as the forest products trade emerges from the global
recessionary conditions, and as the level of international timberland
investment rapidly increases and diversifies into new investment zones,"
stated Turland. He continued, "I hope to draw on my forestry investment
and management experience to provide additional insight on drivers in timber
pricing and the patterns of supply, demand and trade of various timber products."

Turland began his forestry career in 1988 at the New Zealand
Ministry of Forestry as a forestry analyst. John has also held roles at
Forestry Corporation NSW (formerly State Forests of NSW), Poyry, Rayonier New
Zealand, World Forestry Institute, Washington State Department of Natural
Resources and Greenwood Resources. He holds both a Bachelors and a Masters of
Forestry Sciences from the University of Canterbury New Zealand, as well as a
Bachelors of Applied Economics from Massey University New Zealand.