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Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding Ltd.
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Precious Woods: Increase of operating income below expectations in first semester

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Revenue Report 2nd Quarter 2008
28.07.2008
Precious Woods was able to increase operating income by 50% compared 
to the prior year from USD 42.4 Mio to USD 63.5 Mio. The increase in 
local currencies only amounted to 30% and was thus significantly 
below expectation for two reasons:
1. Technical issues at the rotary veneer plant TGI in Gabon: The 
yield of first grade product was significantly lower than previously 
achieved which led to reduced revenue at constant cost. Specialists 
of the manufacturer have identified the deficiencies and provided 
proposals to rectify these. In the third quarter, a new technical 
director will assume management of the rotary veneer plant.
2. Low supply and too high demand for international shipping 
capacity: This led to significant delays in the shipping of product 
sold by Gabon and consequently to a delay of a portion of the 
revenue. Since the beginning of July this situation has begun to 
slightly ease.
On the other hand, revenue from energy and emission rights increased.
Precious Woods Amazon also increased sales. Precious Woods will issue
the full half year report in the second half of August at which time 
the business development of all segments will be reported.
Precious Woods (SWX: PRWN) 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.
end of announcement                               euro adhoc

Further inquiry note:

Sandra Demi
Sekretariat
Tel. +41/44/245'80'10

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

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