Publication of NAV

21 October 2014

Cambium Global Timberland Limited (the "Company")

Publication of Net Asset Value ("NAV")

The Directors of the Company wish to announce that in the light of the changes to the operational management of the Company approved by shareholders at the AGM on 16th October 2014, it is intended to replace the publication of the "desk top" net asset value as at 31st July 2014 with an accelerated announcement of the 31st October 2014 net asset value (which will still be subject to review by KPMG) based on the independent third party valuations for that date together with consideration by the Board and the Operations Manager of any other relevant information.

A further announcement will be made in due course.

For further enquiries please contact:

Broker and Nominated Adviser

Panmure Gordon

Paul Fincham/Jonathan Becher

0207 886 2500

Administrator and Secretary

Praxis Fund Services Limited

01481 737600