Net Asset Value(s)

23 October 2013

Cambium Global Timberland Limited (the "Company")

Publication of Net Asset Value ("NAV")

The Directors of the Company wish to announce that in light of the review of the Company's timber portfolio currently being undertaken by the Board and the realisation strategy adopted by the Company in February, the practice of publishing quarterly "desk top" portfolio valuations is being discontinued.

Accordingly valuations will in future be announced as part of the Company's final and interim results. Consistent with the valuation policy outlined in the Company's 2007 Admission Document, these will be based on formal third-party valuations.

[The next valuation is therefore expected to be as at the end of October 2013 and to be published with the Company's interim results. It will reflect any changes arising from the work of independent third party valuers, including an independent assessment of the property providing security to cover the lien on the 3R Tocantins asset in Brazil]

For further enquiries please contact:

Broker and Nominated Adviser

Panmure Gordon

Paul Fincham/Jonathan Becher

0207 886 2500

Investment Manager

CP Cogent Asset Management

Rich Standeven

+ 1 214 871 5400