Net Asset Value(s)

26 October 2012

Cambium Global Timberland Limited (the "Company")

Net Asset Value ("NAV")

The Directors of the Company wish to announce that the unaudited NAV as at 31 July 2012 (calculated under IFRS and including current year revenue) is as follows:

31 July 2012 30 April 2012

£ £

Net asset value per ordinary share 0.65 0.67

For further enquiries please contact:

Investment Manager

CP Cogent Asset Management

Rich Standeven +1 214 871 5400

Broker and Nominated Adviser

Matrix Corporate Capital LLP

Paul Fincham / Jonathan Becher + 44 (0) 20 3206 7000