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FORM 4
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0MB APPROVAL
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OMB Number: 3235-0287
Expires: February 1, 1994
Estimated average burden
hours per response: 0.5
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[_] Check box if no longer subject to Section 16. Form 4 and Form 5
obligations may continue. See Instruction 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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(1) of the Investment Company
Act of 1940
1. Name and Address of Reporting Person:
Last: Cole Street: 16825 Northchase Drive, Suite 800
First: Aubrey City: Houston
Middle: L. State: Texas Zip: 77060
2. Issuer Name and Ticker or Trading Symbol: U.S. Timberlands Company, L.P.
(NASDAQ: TIMBZ)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year: 10/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable):
[X] Director
[ ] 10% Owner
[ ] Officer (give title below)
[ ] Other (specify below)
7. Individual or Joint/Group Filing (Check Applicable)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<S> <C> <C> <C> <C> <C> <C>
1. Title of Security 2. Trans- 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action Code or Disposed of (D) Securities Form; Indirect
Date (Instr. 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Month/ Owned at End or Indirect Ownership
Day/ Code V Amt. (A) or Price of Month (I) (Instr. 4)
Year) (D) (Instr. 3 (Instr. 4)
and 4)
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Units 10/14/99 P 3,000 A $11 9/16 I (1)
Common Units 10/15/99 P 6,000 A $11.4792 I (1)
Common Units 10/27/99 P 2,000 A $11.875 I (1)
56,500 (2)
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1474 (3/91)
<PAGE>
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FORM 4 (CONTINUED)
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<TABLE>
<CAPTION>
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.Title 2.Conver- 3.Trans- 4.Trans- 5.No. of 6.Date Exer- 7.Title and 8.Price 9.No. of 10.Owner- 11.Nature
of sion or action action Deriv- cisable Amount of of Deriv- ship of In-
Deri- Exercise Date Code ative and Ex- Underly- Deri- ative Form direct
vative Price of (Month/ (Instr.8) Securi- piration ing Secur- vative Securi- of Deri- Benefi-
Security Deriva- Day/ ties Ac- Date (Month/ ities Security ties vative cial
(Instr.3) tive Year) quired Day/Year) (Instr.3 (Instr.5) Benefi- Security: Owner-
Security (A) or and 4) cially Direct(D) ship
Disposed Owned or Indi- (Instr.
of (D) at End rect(I) 4)
(Instr.3 of Month (Instr.4)
4, and 5) (Instr.4)
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
Code V (A) (D) Date Expira- Title Amount
Exer- tion
cisable Date
</TABLE>
Explanation of Responses:
(1) Represents shares purchased by U.S. Timberlands Service Company LLC.
(2) This number represents the total number of Common Units purchased by U.S.
Timberlands Services Company, LLC, though the Reporting Person has less
than a 25 percent interest in U.S. Timberlands Services Company, LLC. This
filing shall not be deemed an admission that the Reporting Person is, for
purposes of section 16 of the Securities Exchange Act of 1934 or
otherwise, the beneficial owner of any equity securities covered by this
statement.
/s/ Aubrey L. Cole
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2
SEC 1474 (3/91)
