euro adhoc: Precious Woods Holding Ltd. / other / Precious Woods: Increase of operating income below expectations in first semester

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Revenue Report 2nd Quarter 2008

28.07.2008

Precious Woods was able to increase operating income by 50% compared
to the prior year from USD 42.4 Mio to USD 63.5 Mio. The increase in
local currencies only amounted to 30% and was thus significantly
below expectation for two reasons:

1. Technical issues at the rotary veneer plant TGI in Gabon: The
yield of first grade product was significantly lower than previously
achieved which led to reduced revenue at constant cost. Specialists
of the manufacturer have identified the deficiencies and provided
proposals to rectify these. In the third quarter, a new technical
director will assume management of the rotary veneer plant.

2. Low supply and too high demand for international shipping
capacity: This led to significant delays in the shipping of product
sold by Gabon and consequently to a delay of a portion of the
revenue. Since the beginning of July this situation has begun to
slightly ease.

On the other hand, revenue from energy and emission rights increased.
Precious Woods Amazon also increased sales. Precious Woods will issue
the full half year report in the second half of August at which time
the business development of all segments will be reported.

Precious Woods (SWX: PRWN) is an international company active in the
sustainable management and use of tropical forests. The company's
core activities include reforestation and sustainable management of
tropical forests, timber processing and the trading of FSC-certified
timber products. The generation of emission rights and electricity
from recovery wood represent further integral elements of the
company's business. The shares of Precious Woods Holding have been
traded on the SWX Swiss Exchange since March 2002. Further
information about Precious Woods is available at
www.preciouswoods.com.

end of announcement euro adhoc
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ots Originaltext: Precious Woods Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Sandra Demi

Sekretariat

Tel. +41/44/245'80'10

Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing