SCOTTISH WOODLANDS

	UK Woodland Assurance Standard, 2nd Edition A second edition of the UK Woodland Assurance Standard has been developed by the UKWAS Steering Group and supersedes the first edition from 1 November 2006. For further information on how this affects our certification process, please refer to the FSC Group Scheme page, or the UKWAS website. New entrants to the Scottish Woodlands Ltd Group certification scheme from 1st November 2006 will be judged against the 2nd edition of the Standard, existing Group Scheme members will have a period of transition to allow for changes to be made to working practices and management systems. Scottish Woodlands Limited achieves MBO The executive directors of Scottish Woodlands Limited, Scotland's largest forestry management company, are delighted to announce a successful management buy-out. SWL Limited, the buy-out vehicle established to effect the transaction, is 90% owned by Scottish Woodlands? management and staff, with a 10% stake held as an investment by James Jones & Sons Limited, Scotland's largest sawmilling company. SWL Limited is chaired by Tom Bruce Jones CBE, Chairman of James Jones and Sons Limited, and Colin Mann has been appointed its chief executive. The other directors are Geoff Craythorne, Stuart Johnston and Robin Stevenson, Finance Director of James Jones and Sons Limited. SWL Limited will act as the holding company of Scottish Woodlands Limited. Scottish Woodlands Limited continues to trade as before, the key difference being that it is now wholly owned by SWL Limited. Scottish Woodlands Limited will have a separate board comprising its previous six executive directors but in a restructuring announcement, Neil Campbell has taken up a new position as Timber Marketing Director in response to the accelerating volumes of timber being handled by the company. Colin Mann, previously the Investment Director, becomes Managing Director. The other board members are Geoff Craythorne (Finance Director), Stuart Johnston (Operations Director, North Scotland & Ireland), Colin Kennedy (Operations Director, South Scotland & Flintshire Woodlands) and Jim Nicol (Utilities Director). SWL Ltd's combination of predominant staff ownership, coupled with a trade investor, places the company in a unique position within the UK forest industry and will allow the Company to deliver significantly enhanced service benefits to its clients. Colin Mann said: "I believe the changes to our ownership structure will bring a new dimension to the strategic development of the Company, with a greater focus on the future harvesting of the UK?s softwood resource which has now reached 10 million cubic metres per annum." "Being able to sustain our client, customer and staff support has been paramount throughout this process. We are grateful for the strong commitment shown to us by all our customers and look forward to continuing to serve them in the future." Scottish Woodlands Limited, a leading player in the UK forest industry, operates from 17 offices throughout the United Kingdom. As well as providing a comprehensive range of forest management services, the company also operates in the estate management and utility sectors and has a growing European business centred round its office near Kosice in eastern Slovakia. The unaudited consolidated results of Scottish Woodlands Limited for the year ended 30 September 2004 show a turnover of £31,316,000 and a profit before interest and tax of £514,000 SWL Limited and the management team were advised by Deloitte Corporate Finance and Brodies LLP. For further information, please contact: Colin Mann, Managing Director, Scottish Woodlands Limited Tel: 0131 451 5154 (switchboard) Email: colin.mann@scottishwoodlands.co.uk Tom Bruce Jones, CBE, Chairman (Left) Colin Mann, Managing Director (Right)