12.09.2002 – 08:50

Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding AG, Zug
Mergers - Acquisitions - Takeovers
Precious Woods acquires interest in older teak plantation (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.

Precious Woods has acquired a minority interest in Nibo and thus
indirectly in one of the largest operators of teak plantations in
Costa Rica. Nibo is the controlling shareholder of Panamerican Woods
which owns about 3’000 hectares of teak plantations in the south of
the Nicoya peninsula, Costa Rica. These teak plantations were created
from 1985 until 1993 and are on average about 7 years older than
those of Precious Woods. Precious Woods itself has reforested about
4500 hectares from 1990 until 2002 of which 3300 hectares were
planted with teak. Since two years, Panamerican Woods has been
exporting teak harvested from thinnings to India and is also
processing teak to flooring products in its own local factory. As are
all of the Precious Woods Group companies, Panamerican Woods is also
FSC certified.

In the long term, a closer cooperation between Precious Woods Costa
Rica and Panamerican Woods could lead to significant benefits as the
teak plantations of each company complement each other very well in
respect to their age. The objective of any company active in the area
of sustainable forest management must be to manage reforestations of
all age groups in a planting and harvest cycle. In addition, both
companies possess unique know-how as well as complementary strengths.
In future various type of cooperation are conceivable ranging from
contractual cooperation agreements and further participations to a
full merger.

end of announcement        euro adhoc 12.09.2002

Kontakt:

Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing