Strategic Review Update

For immediate release: 31 August 2012

Cambium Global Timberland Limited (the "Company")

Registration Number 95719

Strategic Review Update

The Board has noted the recent marked deterioration in the Company's share price. The ongoing strategic review, announced on 6 July 2012, constrains the Board from repurchasing the Company's own shares until such time as the outcome of the review is published to the market.

The Board remains committed to completing the strategic review as soon as practicable, and in any event for publication no later than 30 November 2012, and with a view to enhancing value for all shareholders. The Board is actively engaged in several initiatives which include an orderly liquidation of the Company's assets.

As previously indicated, the strategic review is being conducted by the independent directors of the Company, advised by Matrix Corporate Capital LLP.

A further announcement will be made in due course.

For further enquires please contact:

Broker and Nominated Adviser

Matrix Corporate Capital LLP

Paul Fincham / Jonathan Becher

+ 44 (0) 20 3206 7000