YORKCOR COMPLETES "BLUECHIP TIMBER" ACQUISITION

YORKCOR COMPLETES "BLUECHIP TIMBER" ACQUISITION                                 
York Timber Organisation Limited                                                
(Registration number 1916/004890/06)                                            
ISIN:       ZAE000008108                                                        
Share code: YRK                                                                 
Yorkcor shareholders have unanimously ratified the acquisition of the assets of 
two sawmilling undertakings in liquidation, Bluechip Timbers Mpumalanga (Pty)   
Ltd and Bluechip Industrial Timbers (Pty) Ltd.                                  
The acquisition is of strategic benefit to Yorkcor, complementing the sawmilling
activities of group company York Timbers.  It also represents a cost effective  
expansion opportunity for Yorkcor to apply its extensive knowledge and goodwill 
in revitalising the two sawmilling operations.  "For us to have established     
these sawmills from grassroots level would have been extremely costly," points  
out Yorkcor chairman Solly Tucker.                                              
Situated in Amsterdam and Lothair, the two acquisitions have been styled        
Roburnia Forest Products and Golden Rhino Lumber, respectively.  "Well located  
in respect of the Gauteng and KwaZulu-Natal markets, the acquisitions open the  
way for exciting strategic prospects for Yorkcor," concludes Tucker.            
Ends                                                                            
ISSUED    Yorkcor Limited                                                       
FOR   :                                                                         
CONTACT   Solly Tucker (012) 804 9730/083 456 9900                              
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FAX NO    (012) 804 8611                                                        
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E-MAIL    sol@yorkcor.co.za                                                     
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WEBSITE   www.yorkcor.co.za                                                     
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ISSUED    TISH STEWART PR ASSOCIATES                                            
BY   :                                                                          
CONTACT   Tish Stewart   (011) 325 4195   Cell:  082 443 6399                   
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FAX NO    (011) 325 4199                                                        
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E-MAIL    tish@tspr.co.za                                                       
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DATE :    13 January 2003                                                       
Date: 13/01/2003 01:22:04 PM Supplied by www.sharenet.co.za                     
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