Land Sale

1 June 2011

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

Corrigan Land Sale

Cambium has entered into an agreement to sell the remaining 7,270 acres of land around Corrigan, Texas. This property represents approximately 20% of the company's property in the southern United States and 8.0% of the value of the company. Net of estimated transaction costs and taxes proceeds will be approximately $10.9 million.

The Corrigan property was acquired in June 2007 and a portion was sold in November 2010. Proceeds from the two land sales equate to 108% of the original purchase price. The latest transaction is anticipated to be accretive to NAV in the financial year ending 30 April 2012 by approximately $700,000.

A portion of the proceeds will be used to pay down principal on the amount borrowed by the company in May 2010. The remaining amounts provide additional flexibility to the Company in the conduct of its business and support for its investment program. 

Post transaction Cambium's portfolio allocation will be approximately 34% in the United States, 35% in Brazil, 10% in Hawaii, 8% in Australia, with 13% in cash reserved for investment and working capital.

The transaction is expected to close by 12 July 2011.

For More Information:

Investment Manager

CP Cogent Asset Management

Rich StandevenÂ

+1 214 871 5400

Broker

Matrix Corporate Capital LLP

Paul Fincham / Jonathan Becher

+44 (0)203 206 7000

Nominated Advisor

PwC

Melville Trimble

+44 (0)207 213 8898