YORKCOR - RESULTS OF BONUS AWARD

RESULT OF BONUS AWARD OF YORKCOR ORDINARY SHARES AND THE RIGHT TO ELECT THE
1997 FINAL CASH DIVIDEND INSTEAD OF THE BONUS SHARES
THE YORK TIMBER ORGANISATION LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 01/04890/06)

RESULT OF BONUS AWARD OF YORKCOR ORDINARY SHARES AND THE RIGHT TO ELECT THE
1997 FINAL CASH DIVIDEND INSTEAD OF THE BONUS SHARES

THE RIGHT TO ELECT THE 1997 FINAL CASH DIVIDEND INSTEAD OF THE BONUS SHARE
AWARD ("BONUS SHARES") MADE TO HOLDERS OF ORDINARY SHARES IN YORKCOR, IN THE
RATIO OF 5,5 BONUS SHARES FOR EVERY 100 SHARES HELD AT THE CLOSE OF BUSINESS ON
THURSDAY, 9 APRIL 1998, CLOSED AT 15:00 ON FRIDAY, 8 MAY 1998. DETAILS OF THE
BONUS SHARE AWARD WERE CONTAINED IN A CIRCULAR POSTED TO SHAREHOLDERS ON
FRIDAY, 17 APRIL 1998.

ELECTIONS TO RECEIVE THE BONUS SHARES WERE MADE IN RESPECT OF 7 327 485
ORDINARY SHARES. ACCORDINGLY, 403 012 NEW YORKCOR ORDINARY SHARES HAVE BEEN
ISSUED, INCREASING THE ISSUED ORDINARY SHARES IN YORKCOR`S CAPITAL TO 11 040
497. THE 1997 FINAL DIVIDEND OF 15 CENTS PER SHARE HAS BEEN PAID IN RESPECT OF
3 310 000 ORDINARY SHARES.
LISTING OF NEW ORDINARY SHARES

THE AFOREMENTIONED NEWLY ISSUED ORDINARY SHARES WILL BE LISTED ON THE

JOHANNESBURG STOCK EXCHANGE WITH EFFECT FROM THE COMMENCEMENT OF BUSINESS TODAY
POSTING OF SHARE CERTIFICATES AND DIVIDEND/FRACTION CHEQUES

SHARE CERTIFICATES IN RESPECT OF THE NEW ORDINARY SHARES AND DIVIDEND/FRACTION
CHEQUES WILL BE POSTED TO SHAREHOLDERS TODAY.
PRETORIA
12 MAY 1998
SPONSORING BROKER
BOE SECURITIES
TRANSFER SECRETARIES
CONSOLIDATED SHARE REGISTRARS