Yorkcor Declares Special Dividend, Appoints Black Director

Yorkcor Declares Special Dividend, Appoints Black Director                      
The York Timber Organisation Limited                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1916/004890/06)                                            
Share code YRK   ISIN ZAE000008108                                              
("Yorkcor")                                                                     
At a board meeting on 23 February, the directors of York Timber Organisation    
Limited (Yorkcor) declared a special dividend of 125 cents per share and an     
ordinary dividend of 25 cents per share.  The company did not pay a dividend in 
2003.                                                                           
This follows a trading update issued by the group on 10 February, in which it   
was stated that the group financial results for the year to 31 December 2004    
were expected to show a marked improvement over the previous year.  An increase 
of between 520% and 610% was expected in headline earnings per share, with      
earning per share expected to show an improvement of between 55% and 65%.       
Accordingly, the dividends were declared in the light of the group"s healthy    
financial position and continuing strong operational cash flows.                
The board also announced the appointment of Nthato Motlana as a non-executive   
director of the company.  Motlana is a past national chairman of the South      
African Lumber Millers" Association and a current Councillor of the Institute of
Directors n Southern Africa.  He previously served on the board of Yorkcor and  
left to take up significant opportunities in the timber industry.               
Yorkcor chairman Solly Tucker confirms that the outlook for the company is      
positive, indicating that the company has a cash chest of some R50 million and  
is actively seeking acquisitions with secure log supplies and BEE connections.  
About Yorkcor                                                                   
Yorkcor is a forest products enterprise listed on the JSE Securities Exchange   
SA. It is one of the most experienced and efficient sawmilling companies in     
South Africa, adding value to wood through creative applications and strategic  
focus on niche markets at home and abroad. The company also successfully markets
timber products locally and overseas. Yorkcor timber is manufactured strictly   
from plantations which are renewable resources.                                 
Yorkcor employs over 1 000 people and turnover in 2003 was R117 million.        
Incorporated in 1916 as Katzenellenbogen Limited, the company"s shares have been
listed on the JSE since 1946.                                                   
Ends                                                                            
ISSUED FOR:    YORK TIMBER ORGANISATION LIMITED                                 
CONTACT:       Solly Tucker, Chairman: 012 804 9730 / 083 456 9900              
FAX NO:        012 804 8611                                                     
E-MAIL:        solly@yorkcor.co.za                                              
WEBSITE:       www.yorkcor.co.za                                                
ISSUED BY:     TISH STEWART PR ASSOCIATES                                       
CONTACT:       Tish Stewart   011 325 4195 / 082 443 6399                       
FAX NO:        011 325 4199                                                     
E-MAIL:        tish@tspr.co.za                                                  
DATE:          28 February 2005                                                 
Date: 28/02/2005 09:43:38 AM Supplied by www.sharenet.co.za                     
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