Leading agribusiness investment manager, Timbercorp Limited has estimated new sales from its horticulture projects of $76 million for the period from 1 October 2007 to 15 June 2008.

This amount comprises approximately:

• $40m from sales of the balance of the 2007 Timbercorp Almond Project (post June), which sold out early on 10 June; and
• $36m in sales from the 2008 Timbercorp Olive Project, which represents the highest number of sales ever received for a Timbercorp olive project.

Deputy CEO, Sol Rabinowicz said the result was a solid one, representing around 90% of horticulture lots available for sale.

The estimate does not include new sales from the company’s plantation forestry project, which remains open till 30 June 2008. Sales from the project are tracking well, with sales to date higher than at the same time last year.

Further details of sales to 30 June 2008 will be released around 1 July 2008.

For further information call:

Sol Rabinowicz, Deputy CEO & Executive Director, (03) 8615 1200
John Murray, CFO, (03) 8615 1200
Matt Trewin, Communications Manager, 0407 684 765