YRK - The York Timber Organisation Limited - York reports on fire damage

    YRK - The York Timber Organisation Limited - York reports on fire damage    
                                                                                
    The York Timber Organisation Limited                                        
(Registration number 1916/004890/06)                                        
    Share code: YRK                                                             
    ISIN: ZAE000008108                                                          
    ("York" or "the company")                                                   


    YORK REPORTS ON FIRE DAMAGE                                                 
                                                                                
    Severe fires since the week-end have caused substantial damage to           
plantations in Mpumalanga, Swaziland and KwaZulu-Natal.                     
                                                                                
    Against this background, York CEO Lance Cooper, has said that one of the    
    company`s plantations and sawmills had been affected and that these fires   
would compound the long term softwood lumber shortage already facing South  
    Africa. He added that several of the fires had been brought under control   
    in recent hours.                                                            
                                                                                
Cooper said that fire damage had been suffered by an estimated 6 000        
    hectares of York`s 90 000 hectares, or less than 7% of the company`s total  
    plantations.  In addition, a portion of York`s Driekop sawmill near Graskop 
    was damaged by the fire.  "The wetmill started burning at about 5am on      
Saturday morning," said Cooper.  "However, fire teams were able to          
    extinguish the flames before they reached the drymill and the auxiliary     
    mill.  Limited production will be restored to the mill this week and extra  
    shifts at the group`s other seven mills are being planned to bolster        
production volumes and avoid disruption of supplies. The mill is insured    
    for loss of profits and asset insurance," confirmed Cooper.                 
                                                                                
    York`s fire teams were activated at about 21h00 on Friday night as two      
large fires started in Sabie and Graskop and a third in the Warburton area  
    near Piet Retief.  Exhausted fire fighters worked in difficult conditions   
    to contain the fires all weekend and numerous volunteers from the           
    communities have added to the numbers.                                      


    Cooper explains that the situation is not as bad as it might appear: "The   
    burnt timber can be processed, as the trees are scorched by the fire and do 
    not burn away," he explains. "In order to maximise recoveries all planned   
felling of unburnt timber will be stopped in order to focus on processing   
    the burnt timber before the trees die and start to deteriorate," says       
    Cooper.  York will also store a large volume of logs under irrigation. "We  
    have previously successfully stored logs for up to three years under        
sprayers without a deterioration in quality."                               
    The plantations are insured by way of an internal self-insurance risk pool, 
    due to the high cost of premiums and the ability of the company to salvage  
    a lot of the burnt timber. "We will therefore ensure that the salvage       
operations are effective and the wastage of timber is kept to a minimum,"   
    he asserts.                                                                 
                                                                                
    As soon as the fire fighting teams have brought all the fires under         
control, York will be able to more accurately assess the nature and extent  
    of the affected areas.  "Our provisional estimate of fire damage to 6 000   
    hectares will be updated, together with information on the age and quality  
    of the scorched timber," concludes Cooper.                                  


    Further announcements may be published by York in due course should         
    additional important information relating to the fire damage and its impact 
    on the operations of York become known to management.                       


    YORK ORDINARY SHARES COMMENCE TRADING EX-RIGHTS                             
                                                                                
    Shareholders are advised that today, being Monday 30 July 2007, is the      
first day that York ordinary shares trade ex-rights with regards to the     
    rights offer in terms of which 2.1134123 rights offer shares at a           
    subscription price of R15 per rights offer share were offered for each York 
    ordinary share held at the close of business on Friday 27 July 2007,        
details of which are included in the circular issued to York shareholders   
    on 15 June 2007.                                                            
    White River                                                                 
    30 July 2007                                                                
Date: 30/07/2007 13:01:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.