Yorkcor And Safcol Resolve All Litigation And Arbitration Matters

Yorkcor And Safcol Resolve All Litigation And Arbitration Matters               
PRESS RELEASE                                                                   
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")                                                    
Yorkcor And Safcol Resolve All Litigation And Arbitration Matters               
The York Timber Organisation Limited (Yorkcor) and the South African Forestry   
Company Limited (Safcol) today announced that they have settled all litigation  
and arbitration matters outstanding between the companies. In terms of the      
settlement agreement Yorkcor agreed to pay Safcol an undisclosed amount.        
Ivor Tucker, Chief Executive Officer of Yorkcor, commented: "Adequate provision 
was made in our 2005 year-end balance sheet for the agreed payments, details of 
which will be disclosed in Yorkcor"s interim results to 30 June 2006 that are   
due to be released towards the end of August 2006."                             
Spokespersons for both companies expressed their satisfaction that all          
litigation and arbitration proceedings have been finalised and look forward to  
building a successful relationship in the future.                               
Ends                                                                            
ISSUED FOR:      YORK TIMBER ORGANISATION LIMITED                               
CONTACT   :      John Lehman: 012 804 9730                                      
FAX NO    :      012 804 8611                                                   
E-MAIL    :      john@yorkcor.co.za                                             
WEBSITE   :      www.yorkcor.co.za                                              
ISSUED BY :      LETSEMA COMMUNICATIONS                                         
CONTACT   :      Tish Stewart   011 325 4195 / 082 443 6399                     
FAX NO    :      011 325 4199                                                   
E-MAIL    :      tish@letsemacom.co.za                                          
DATE      :      03 August 2006                                                 
Date: 04/08/2006 01:02:43 PM Supplied by www.sharenet.co.za                     
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