Forestar to Begin Trading on NYSE

Forestar Real Estate Group Inc. has announced the completion of its spin-off as an independent company from Temple-Inland Inc. Forestar will begin trading on the New York Stock Exchange today, trading under the symbol FOR.

Forestar Real Estate Group is a growth company focused on maximizing long-term shareholder value through entitlement and development of real estate, realization of value from natural resources and accelerated growth through strategic and disciplined investment in real estate. The company currently has approximately 374,000 acres of real estate located primarily in growth corridors in the southern half of the United States. The company also owns oil and gas mineral interests in about 622,000 net mineral acres in Texas, Louisiana, Alabama and Georgia.

In making the announcement, James M. DeCosmo, President and Chief Executive Officer of Forestar Real Estate Group Inc., said, "Our management team is excited about our spin-off from Temple-Inland Inc., and is committed to realizing the potential that exists as an independent company."