Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding Ltd.
other
Temporary shut-down of the Precious Woods´ Pará sawmill (Brazil)

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Plant Closings

14.02.2008

Due to insufficient supplies of roundwood, Precious Woods Pará has been necessitated to temporarily close its sawmill. 255 staff will be affected by the decision. Precious Woods Pará is committed to fulfill its obligations according to the Brazilian law as well as those of the social plan that was agreed upon with the trade unions.

The late arrival of the concession agreement and consequently the delay of the harvest´s start into October 2007 are the reasons for this measure.

The remaining stocks are not large enough to keep the sawmill loaded until the beginning of the coming harvest in May 2008. The original hope to harvest through the end of January 2008 in spite of the beginning of the rainy season could not be fulfilled as the Brazilian Forest Authorities did not grant any timber company the right to extend the harvest period beyond 31 December 2007.

Precious Woods plans to resume the harvest in May 2008 with the option of operating the sawmill on reduced capacity. However, this decision will depend on the possibility of gaining access to additional forest concessions.

Precious Woods is an international company active in the sustainable management and use of tropical forests. The company's core activities include reforestation and sustainable management of tropical forests, timber processing and the trading of FSC-certified timber products. The generation of emission rights and electricity from recovery wood represent further integral elements of the company's business. The shares of Precious Woods Holding have been traded on the SWX Swiss Exchange since March 2002. Further information about Precious Woods is available at www.preciouswoods.com.

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ots Originaltext: Precious Woods Holding Ltd.
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Contact:
Precious Woods Holding AG, Zug
Dr. Andres Gut, Chairman
Tel.  +41 44 2458010 / +41 44 2458120
mailto: office@preciouswoods.com

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



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