Change of Administrator and Registered Office

3 February 2011

Cambium Global Timberland Limited ("Cambium" or "Company")

Change of Administrator and Company Secretary and Change of Registered Office

Cambium Global Timberland Limited (the "Company") announces that with effect from 3 February 2011, Bedell Fund Services Limited ("Bedell") has been appointed as Administrator and Secretary of the Company in place of Investec Trust (Jersey) Limited.

Bedell is regulated to carry out fund services business by the Jersey Financial Services Commission.

Pursuant to the new Administration Agreement dated 3 February 2011, between Cambium and Bedell Fund Services Limited, the annual remuneration fee will remain the same as stated in the previous Administration Agreement and with immediate effect the new Registered Office of the Company will be:

26 New Street

St Helier

Jersey

JE2 3RA

For more information:

Investment Manager

CP Cogent Asset Management

Richard Standeven

+1 214 871 5400

Broker

Matrix Corporate Capital LLP

Paul Fincham / Jonathan Becher

+ 44 (0) 20 3206 7000

Nominated Adviser

PwC

Melville Trimble

+ 44 (0) 20 7 213 8898