New Forests Supports Investment in Second Eucalyptus Plantation in Hawaii

Further Development on Big Island of Hawaii

Thursday, May 21, 2008

SYDNEY – New Forests Pty Limited announces it has completed the acquisition of a 4,500 acre Eucalyptus plantation in Hawaii on behalf of Cambium Global Timberland Ltd (Cambium). The “Pinnacle” asset is located on the Big Island of Hawaii and complements the “Pahala” asset that was acquired in August 2007. Cambium is managed by Cogent Partners with New Forests acting in an advisory and asset management role.

Pinnacle is a Eucalyptus plantation and has an age-class distribution that balances the Pahala project. When taken together these two assets provide a consistent cash flow distribution beginning in 2012 when the oldest trees begin to mature.

The property will be managed for future timber production in response to market needs. This is expected to include replanting of Eucalypt species and yield enhancement through the establishment of high-value tropical hardwood plantations, which are experiencing increasing demand worldwide. New Forests will manage the Pinnacle asset on an ongoing sustainable basis, while actively working to monetize values associated with emerging environmental markets.

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, Washington D.C. and San Francisco. 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.