SEC Form 5/A

FORM 5
[X] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).
[ ]Form 3 Holdings Reported
[X]Form 4 Transactions Reported UNITED STATES 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(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person* Berry, William     S. (Last)                      (First)                      (Middle) 50 North Laura Street 19th Floor (Street) Jacksonville, FL     32202-664 (City)                      (State)                      (Zip) U.S.	2. Issuer Name and Ticker or Trading Symbol Rayonier Inc.   RYN		6. Relationship of Reporting Person(s) to Issuer (Check all applicable)                         Director                           10% Owner            X          Officer                             Other Officer/Other Description           Executive Vice President (Retired) 7. Individual or Joint/Group     Filing (Check Applicable Line) X   Individual Filing       Joint/Group Filing
	3. I.R.S. Identification     Number of Reporting     Person, if an entity     (voluntary)	4. Statement for     Month/Day/Year     December 31, 2002 5. If Amendment,     Date of Original     (Month/Day/Year)     02/11/2003

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 (D) Of     (Instr. 3, 4, and 5)         Amount      |         A/D         |         Price	5. Amount of     Securities     Beneficially     Owned at     End of     Issuer's Fiscal     Year     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct(D)     or     Indirect (I)     (Instr. 4)	7. Nature of      Indirect      Beneficial      Ownership     (Instr. 4)
Common Shares	02/01/2002		M4 (1)	15000.00   |           A           |   $30.0000		D
Common Shares	02/01/2002		S4 (1)	15000.00   |           D           |   $49.0441	0.00	D
Common Shares	03/12/2002		I	4799.00   |           D           |   $52.2700	0.00	I	In Trust (2)

If the form is filed by more than one reporting person, see instruction 4(b)(v). Persons who respond to the collection of information contained in this form are not required to
respond unless the form displays a currently valid OMB control number. (over)
SEC 2270 (7-02)

Berry, William S. - December 31, 2002

Form 5 (continued)

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. Conver-     sion or     Exercise     Price of     Deri-     vative     Security	3. Transaction     Date     (Month/     Day/     Year)	3A. Deemed       Execution       Date, if       any       (Month/       Day/       Year)	4. Transaction     Code	5. Number of Derivative     Securities Acquired (A)     or Disposed (D) Of     (Instr. 3,4 and 5)	6. Date Exercisable(DE) and     Expiration Date(ED)     (Month/Day/Year)   (DE)     |     (ED)	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     at End of     Year     (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I) (Instr.4)	11. Nature of       Indirect       Beneficial       Ownership       (Instr.4)
01/03/95 Employee Stock Options	$30.0000	02/01/2002		M4 (1)	(D) 15000.00	01/03/1996 | 01/05/2005	Common Shares - 15000.00		0.00	D

Explanation of Responses :

** 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 is insufficient,
            see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number. By: W. Edwin Frazier, III, Attorney-in-Fact               __________________
** Signature of Reporting Person                         Date

Power of Attorney

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Berry, William S. - December 31, 2002

Form 5 (continued)

FOOTNOTE Descriptions for Rayonier Inc. RYN

Form 5 - December 2002

William S. Berry
50 North Laura Street
19th Floor
Jacksonville, FL 32202-664

Explanation of responses:

(1)   Exercise and sale of Employee Stock Options inadvertently omitted from Mr. Berry's Form 4 filed March 11, 2002.
(2)   Shares were held in the Rayonier Investment and Savings Plan for this person's account.

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