TREE.L Regulatory News (TREE)

6 Aug 2007 10:05

Cambium Global Timberland Limited06 August 2007 Cambium Invests in Hawaiian Eucalyptus Plantation Mature Plantation Provides Cash Flow in 2008 and Future Development Options Jersey - The Directors of Cambium Global Timberland Ltd are pleased to announceit has completed the acquisition of a 6,100 acres of timberland in Hawaii forapproximately 3,000,000 Sterling. Cambium has entered into a leaseholdagreement with Kamehamaha Schools, Hawaii's largest landowner, and expects tobegin harvesting the mature plantation in 2008. The property is on the island ofHawaii and was previously under lease to Hancock Natural Resource Group. The property includes a 3,700-acre plantation to be managed for timberproductions and 2,400-acres of intact native Hawaiian forest with significantbiodiversity value which will be conserved. Timber will be sold under along-term supply agreement to Tradewinds Forest Products LLC, developer of alocal sliced veneer mill. The property will be managed for future timberproduction in response to market needs. This may include replanting of Eucalyptspecies or yield enhancement through the establishment of high-value tropicalhardwood plantations, which are experiencing increasing demand worldwide. Cambium will continue to professionally manage the timber on an ongoingsustainable basis while also actively working to monetize values associated withemerging environmental markets. This information is provided by RNS The company news service from the London Stock Exchange