X0201 4 2004-03-04 0000079716 POTLATCH CORP PCH 0001180484 OLSON JOHN R 601 W. RIVERSIDE AVENUE, SUITE 1100 SPOKANE WA 99201 0 1 0 0 Vice President Phantom Stock 2004-03-04 5 A 0 2748.551 A Common Stock 2748.551 3198.601 D The conversion of the non-derivative security will occur on a one-for-one basis. The reporting person elected to defer receipt of their bonus award into an account in the form of phantom stock units. The phantom stock units will be converted to cash and paid on the dates pre-selected by the reporting person. The bonus award was granted to the reporting person in accordance with the Potlatch Corporation Management Performance Award Plan, pursuant to the stockholder-approved Potlatch Corporation 2000 Stock Incentive Plan. Transaction is exempt under Rule 16(b)-3, as the award was granted by a Committee of the Board of Directors composed solely of non-employee Directors. The bonus award granted to the reporting person was neither a purchase nor a sale of a derivative security, therefore there is no price to report. Malcolm A. Ryerse, Attorney-in-fact 2004-03-08