THE YORK TIMBER ORGANISATION LIMITED - CAUTIONARY ANNOUNCEMENT

THE YORK TIMBER ORGANISATION LIMITED - CAUTIONARY ANNOUNCEMENT                  
The York Timber Organisation Limited                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1916/004890/06)                                            
Share code YRK   ISIN ZAE000008108                                              
("Yorkcor" or "the company")                                                    
Cautionary Announcement                                                         
Shareholders are advised that the group has reached agreement-in-principle to   
acquire a forestry asset in line with its strategic plan outlined in its        
recently published annual report for 2003. The objectives are to strengthen its 
control of certain raw material requirements and to enhance profitability by way
of vertically integrating certain sawmilling operations.                        
If consummated, the transaction could have a material effect on the price of the
company"s securities.                                                           
Accordingly, shareholders are advised to exercise caution in dealing in their   
shares until a further announcement is made.                                    
PRETORIA                                                                        
5 July 2004                                                                     
SPONSOR                                                                         
SASFIN CORPORATE FINANCE                                                        
A division of Sasfin Bank Limited                                               
Date: 05/07/2004 08:57:39 AM Supplied by www.sharenet.co.za                     
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