W L Houston Parkway Partners

MAXXAM, through its subsidiaries, engages in forest products, real estate investment and development and racing operations. Its forest products operations include growing and harvesting of redwood and Douglas fir timber and milling of logs into lumber. The company owns and manages approximately 217,000 acres of contiguous commercial timberlands in Humboldt County along the northern California coast. It primarily serves housing, construction and remodeling markets. The company s real estate investment and development operations include investment, development, and leasing of residential and commercial properties primarily in Arizona, California, Puerto Rico and Texas. MAXXAM was founded in 1955 and is based in Houston. It trades on the American Stock Exchange under the symbol MXM.

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