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Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding AG, Zug
Mergers - Acquisitions - Takeovers
Precious Woods Continues to Expand (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
In March Precious Woods was again able to acquire a further 750 km2
of forest in the Federal State of Amazonas. Precious Woods Amazon now
owns more than 2,450 km2 of forest which should provide sufficient
raw material to meet all future requirements of the company's own
timber processing operations. For comparison: the surface area of the
canton of Zurich, Switzerland covers 1,729 km2. Together with the
purchase of additional forest announced in February and the expansion
of the forest owned by Precious Woods Pará in 2002, the forested land
per share has now risen from 1,042 m2 per share (at the end of 2001)
to 1,796 m2 per share, and this despite the capital increase in 2002.
Precious Woods is convinced that the acquisition of forest in
favourable locations in the Amazonas area is not only a strategically
sound investment but also a way to save the forest from destruction
due to clear cutting and burning.
Precious Woods has founded a new subsidiary: Precious Woods
Nicaragua. In Nicaragua Precious Woods plans to continue the
reforestation programme which was begun in 1990 in Costa Rica.
Whereas the price of land in Costa Rica has risen sharply, interest
in acquiring land in Nicaragua is generally subdued.  Labour costs
are very low in Nicaragua and there is a pressing need for new jobs,
especially in rural areas. Furthermore, reforestation is a matter of
urgency because large-scale deforestation is having a negative impact
on the water balance. On the one hand, rivers which used to run water
all year round are drying out. On the other hand, heavy rainfalls
lead to catastrophic flooding. Precious Woods plants mainly teak, as
the conditions for growth for this species of timber are excellent in
Central America and teak fetches a good price. At the same time many
indigenous species, some of which are threatened with extinction, are
also planted on a small scale. Precious Woods expects to obtain CO2
credits for the new plantations as growing trees absorb considerable
amounts of CO2.
end of announcement        euro adhoc 10.04.2003

Kontakt:

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

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