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, publication of the Company's net asset value as 31 July 2013 is being withheld pending completion of the review.

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

Investment Manager

CP Cogent Asset Management

Rich Standeven

+ 1 214 871 5400