Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WEYERHAEUSER WILLIAM T
   2. Issuer Name and Ticker or Trading Symbol
POTLATCH CORP [PCH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
601 W. FIRST AVENUE, SUITE 1600		 3. Date of Earliest Transaction (Month/Day/Year)
06/30/2008
(Street)

SPOKANE, WA 99201		 4. If Amendment, Date Original Filed(Month/Day/Year)
07/02/2008		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/30/2008   M   37,238.87 A (1) 41,703.87 D  
Common Stock 06/30/2008   D   37,238.87 D $ 45.12 4,465 D  
Common Stock               64,055 I Beneficiary &Trustee of WBW Trust #1
Common Stock               3,433 (2) I Represents shares owned directly by Mr. Weyerhaeuser's wife
Common Stock               27,563 (2) I Represents shares held in trust for Mr. Weyerhaeuser's mother of which Mr. Weyerhaeuser is trustee
Common Stock               39,024 (2) I Represents shares held in trust for Mr. Weyerhaeuser's sister of which Mr. Weyerhaeuser is trustee

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units (1) 06/30/2008   M     37,238.87 06/30/2008 06/30/2008 Common Stock 37,238.87 (1) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WEYERHAEUSER WILLIAM T
601 W. FIRST AVENUE
SUITE 1600
SPOKANE, WA 99201		   X      

Signatures

 /s/ Michael S. Gadd, Attorney-in-Fact   07/08/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each phantom stock unit was the economic equivalent of one share of Potlatch Corporation common stock. On June 30, 2008, 37,238.870 of Mr. Weyerhaeuser's phantom stock units were settled for cash.
(2) Mr. Weyerhaeuser disclaims beneficial ownership of these shares.
 
Remarks:
EXPLANATORY NOTE:

Due to an inadvertent administrative error, the Form 4 originally filed on July 2, 2008 incorrectly showed Mr. Weyerhaeuser as disclaiming beneficial ownership of all securities listed in Table 1.  This amendment corrects this inadvertent error and footnotes only those securities of which Mr. Weyerhaeuser disclaims beneficial ownership.  No other changes have been made to the original Form 4 or the numbers reported therein.

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