-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KKFqnlS1ULpC3maKAVrz3it3kYQ8SNgBJ+uCaE/yafgB+FbQ/0g4BgslFNFlnCkQ
 xP6Z0BGdGy2VrpoAohVqgg==

<SEC-DOCUMENT>/in/edgar/work/0000950123-00-009189/0000950123-00-009189.txt : 20001009
<SEC-HEADER>0000950123-00-009189.hdr.sgml : 20001009
ACCESSION NUMBER:		0000950123-00-009189
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20000922
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		20001006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAYONIER INC
		CENTRAL INDEX KEY:			0000052827
		STANDARD INDUSTRIAL CLASSIFICATION:	 [2400
]		IRS NUMBER:				132607329
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		8-K
			SEC ACT:		
			SEC FILE NUMBER:	001-06780
			FILM NUMBER:		735733
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		50 NORTH LAURA ST
				CITY:			JACKSONVILLE
				STATE:			FL
				ZIP:			32202
				BUSINESS PHONE:		9043579100
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		50 NORTH LAURA ST
					CITY:			JACKSONVILLE
					STATE:			FL
					ZIP:			32202
</MAIL-ADDRESS>

					FORMER COMPANY:	
						FORMER CONFORMED NAME:	ITT RAYONIER INC /CT/
						DATE OF NAME CHANGE:	19940422
</FORMER-COMPANY>

						FORMER COMPANY:	
							FORMER CONFORMED NAME:	ITT RAYONIER INC
							DATE OF NAME CHANGE:	19920703
</FORMER-COMPANY>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y41115e8-k.txt
<DESCRIPTION>RAYONIER INC.
<TEXT>

<PAGE>   1
                 UNITED STATES SECURITIES AND EXCHANGE COMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                       DATE OF REPORT - SEPTEMBER 22, 2000



                          COMMISSION FILE NUMBER 1-6780


                                  RAYONIER INC.



                   Incorporated in the State of North Carolina
                I.R.S. Employer Identification Number 13-2607329

               50 North Laura Street, Jacksonville, Florida 32202
                          (Principal Executive Office)


                        Telephone Number: (904) 357-9100




<PAGE>   2



                                  RAYONIER INC.

                                TABLE OF CONTENTS



                                                                           PAGE

                  Item 5.           Other Events                             1

                  Item 7.           Financial Statements and Exhibits        1

                                    Signature                                1

                                    Exhibit Index                            2




























                                        i


<PAGE>   3

         ITEM 5.  OTHER EVENTS

         Incorporated by reference is a news release issued by the Registrant
         two weeks ago on September 22, 2000, attached as Exhibit 99.1.


         ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

                  See Exhibit Index on Page 2.



                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
         the Registrant has duly caused this Report to be signed on its behalf
         by the undersigned hereunto duly authorized.


                                                      RAYONIER INC. (Registrant)

                                                      BY /s/ George C. Kay
                                                         ----------------------
                                                           George C. Kay
                                                           Vice President and
                                                           Corporate Controller


October 6, 2000



                                       1
<PAGE>   4






                                 EXHIBIT INDEX




EXHIBIT NO.                    DESCRIPTION                       LOCATION
- -----------                    -----------                       --------

      99.1                     News Release issued               Filed herewith
                               September 22, 2000








                                        2


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y41115ex99-1.txt
<DESCRIPTION>NEWS RELEASE
<TEXT>

<PAGE>   1



                                                                   EXHIBIT 99.1








FOR RELEASE AT 4:15 P.M.                  For further information
FRIDAY, SEPTEMBER 22, 2000                Media Contact:    Jay A. Fredericksen
                                                            904-357-9106
                                          Investor Contact: Parag Bhansali
                                                            904-357-9155

                        RAYONIER LOWERS EARNINGS ESTIMATE
                        ---------------------------------

         JACKSONVILLE, FL September 22, 2000 -- Rayonier (NYSE:RYN) said today
its third quarter earnings will be below the First Call consensus estimate due
to a slowing U.S. economy and a strong dollar which has resulted in lower wood
products' prices, reduced demand for timber, and foreign exchange translation
losses. Fourth quarter results also are expected to be affected. The Company
said demand remains strong for its specialty pulp products, although the
appreciated U.S. dollar may delay or preclude a fourth quarter price increase
for its fluff pulps.

         Rayonier said third quarter earnings could be 5 to 7 cents per share
below the September 22 First Call consensus estimate of 49 cents per share, with
the earnings shortfall from operations partially offset by a lower effective tax
rate due to the favorable resolution of outstanding tax issues and an improved
current year tax provision.

         The Company plans to issue its third quarter earnings' announcement on
October 23 after the market closes.

         Rayonier is a global supplier of specialty pulps, timber and wood
products. The company has 2.4 million acres of timber in the U.S. and New
Zealand. About half of Rayonier's sales are to international customers in 60
countries.

         Comments about market trends, anticipated earnings, price changes and
other future activities are forward looking and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. The
following important factors,


                                       3
<PAGE>   2



among others, could cause actual results to differ materially from those
expressed in the forward-looking statements: changes in global market trends;
interest rate and currency movements; fluctuations in demand for specialty
chemical cellulose and fluff pulps, export and domestic logs, and wood products;
the impact of such market factors on the Company's timber sales in the U.S. and
New Zealand; adverse weather conditions; changes in production costs for wood
products and for specialty pulps, particularly for raw materials such as wood
and chemicals; and governmental policies and regulations affecting the
environment, import and export controls and taxes.

         For further information about Rayonier, visit the company's web site at
www.rayonier.com. Complimentary copies of Rayonier press releases and other
financial documents are available by mail or fax by calling 1-800-RYN-7611.

                                      # # #




                                       4
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
