New Forests Supports Eucalyptus Plantation Investment in Hawaii

Mature Plantation Provides Short-Term Returns and Future Development Options

August 8, 2007

SYDNEY – New Forests Pty Limited announces it has completed the acquisition of a 3,700-acre Eucalyptus grandis plantation in Hawaii on behalf of Cambium Global Timberland Ltd (Cambium). Cambium has entered into a leasehold agreement with Kamehamaha Schools, Hawaii’s largest landowner, and expects to begin harvesting the mature plantation in 2008. The property is on the island of Hawaii and was previously under lease to Hancock Natural Resource Group.

Timber will be sold under a long-term supply agreement to Tradewinds Forest Products LLC, developer of a local rotary cutting veneer mill. The property will be managed for future timber production in response to market needs. This may include replanting of Eucalypt species or the establishment of high- value tropical hardwood plantations, which are experiencing increasing demand worldwide.

“This is a key investment for Cambium because the asset can deliver short-term cash flow and then be developed over the longer term based on evolving market demands,” says David Brand, Managing Director of New Forests. New Forests, an advisor to Cambium, will manage the investment and oversee operations. “Conditions for forestry in Hawaii are extremely promising due to high rainfall, volcanic soils and the location in the middle of the Pacific Rim markets. It is a unique US-domiciled tropical forest investment.”

New Forests’ will aim to monetize values associated with emerging environmental markets. The property includes over 2,400 acres of intact native forest with significant biodiversity value. The forest also may qualify for carbon trading, as it was originally established on abandoned sugar cane plantation land. A recent bill enacted by the state government of Hawaii requires the reduction of greenhouse gas emissions to 1990 levels by 2020. This should stimulate the development of a carbon market in the state.

There is also significant opportunity for bio-energy developments, as Hawaii currently has the highest electricity prices in the US and has significant policy targets for expansion of renewable energy production. New Forests has direct experience in the creation, management and marketing of both regulatory and voluntary environmental products and would bring this experience to the forestry sector in Hawaii.

New Forests, on behalf of Cambium, expects to expand its investment program in Hawaii and to secure additional existing plantation assets or to establish new plantations projects in the coming months.

Cambium Global Timberland Limited

Cambium Global Timberland Limited is a fund established to invest in a global portfolio of forestry based properties that can be managed on an environmentally and socially sustainable basis and seeks to exploit environmental option values, such as the sale of carbon credits. The fund is listed on the AIM of the London Stock Exchange (ticker symbol: TREE). Cambium is managed by CP Cogent Asset Management, LP, which is wholly owned by Cogent Partners, LP, an independent investment bank specializing in alternative assets. Cogent Partners will continue to build an optimized portfolio of timberland investments – diversified by location, age, class and species – to generate superior total returns to the fund’s investors. New Forests acts as a global adviser and has a specific acquisitions mandate in Australia and the Asia-Pacific region.

New Forests Pty Limited

New Forests Pty Limited is a forestry investment management and advisory services firm with offices in Sydney, Australia and Washington D.C. The company’s investment thesis is unique in seeking assets that deliver traditional timber returns, as well as returns from emerging environmental markets and preferences, such as certified timber, carbon, biodiversity and water. In addition to world-leading forestry investment expertise in the areas of acquisitions, modeling, operations, silviculture and ecosystem services, New Forests is at the forefront of developing and commercializing environmental products and evaluating opportunities from emerging environmental markets. The company holds an Australian Financial Services License. For more information, please see www.newforests.com.au.

Cogent Partners

Cogent Partners is a leading private equity-focused investment bank that specializes in secondary market transactions and related private equity research products for institutional investors. Recognized globally as the leader in private equity sell-side advisory services, Cogent Partners has earned a reputation for successfully initiating, marketing, negotiating, structuring and closing the sale of private equity assets. Since inception, the company has advised on more than $12 billion in private equity commitments. The firm’s research group offers a range of private equity monitoring and due diligence services. Cogent Partners is headquartered in Dallas, with offices in New York, London and Tokyo. For more information, please visit www.cogent-partners.com.