euro adhoc: Precious Woods Holding Ltd. / other / Precious Woods continues to grow strongly, but earnings suffer in the second quarter

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6-month report

21.08.2008

Compared to the prior year, Precious Woods increased total first-half
operating income in US dollar terms by 50%. In local currencies,
operating income increased by 30%. First-half profit from operating
activities declined from USD 5.4 million in the prior year to USD 4.7
million in the current year. Net income decreased from USD 5.1
million to USD 3.7 million.

The following one-off developments had a negative impact on operating
profit and net income: - Technical problems at the veneer factory in
Gabon led to production losses amounting to EUR 2.2 million, while
costs remained unchanged. - Shipping delays, due to an exceptional
shortage of shipping capacity in June, led to a loss of turnover
amounting to USD 2.2 million, negatively impacting operating profit
and net income by USD 0.3 million. These losses will be compensated
in the third quarter.

Order intake in Holland declined slightly compared to the prior year
as a result of slowing construction activity. In addition, the
particularly high margins achieved a year earlier decreased due to
higher purchase costs.

On the other hand, there were also positive developments:

- Precious Woods Amazon performed significantly better than in the
prior year, achieving a profit of USD 0.3 million compared to a loss
of USD 1.2 million in the same period a year earlier. - On the back
of rising prices, revenues from sales of emission rights were
significantly higher in first-half 2008. - CEB, the Gabonese forestry
and sawmill operation, successfully completed an initial FSC audit
and is therefore on schedule for FSC certification.

For full-year 2008, Precious Woods continues to anticipate that sales
and operating profit will grow by 30-50%.

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