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 referred to Yorkcor"s announcement dated 24 October 2002       
regarding the Government"s termination of York Timbers Limited"s ("York"s")     
`evergreen" supply contract for sawlogs to the company"s York Lumber sawmill    
near Bushbuckridge. The Government has given 5 years" notice of termination and,
as a result, the contract now expires on 31 December 2006.                      
The contract provides for the payment of compensation for the termination. The  
amount of compensation is to be determined on the basis of the value of the     
business on a going concern basis, enjoying the benefits of this contract       
without interruption.  The intention is to place York in at least the same      
financial position as if the contract had not been terminated.                  
The arbitration hearing to determine the quantum of compensation payable by the 
Government in respect of the termination which commenced in March 2003 ended on 
Friday, 19 March 2004. The arbitrator is expected to hand down his award in     
about a fortnight"s time.                                                       
Shareholders are advised to exercise caution in dealing in their shares until a 
further announcement is made.                                                   
PRETORIA                                                                        
24 March 2004                                                                   
SPONSOR                                                                         
SASFIN CORPORATE FINANCE                                                        
A division of Sasfin Bank Limited                                               
Date: 24/03/2004 11:39:16 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department