Timbercorp Board Changes
12 January 2009

Timbercorp Limited today announced changes relating to its Board of Directors.

Dr David McKinna will join the Timbercorp Board as a non-executive director, effective 19 January 2009. Dr McKinna’s appointment fills a casual vacancy on the Board.

Dr McKinna is a director and principal of McKinna et al Pty Ltd, a global strategy consultancy company, which he founded 25 years ago. He has undertaken high level consulting projects at every link in the agribusiness supply chain from farm gate to end-user, both in Australia and overseas and is actively engaged in most traditional and emerging markets of the world.

Dr McKinna has been involved in a number of high profile strategic marketing solutions for Australian agribusiness, including Meat and Livestock Australia’s red meat consumption strategy, Woolworths’ Fresh Food program, and the award-winning Big M milk strategy for Australian Milk Marketing.

The appointment of Dr McKinna increases the qualifications and experience in agribusiness of the Timbercorp Board, as consistent with the Company’s strategy to develop into an integrated agribusiness company.

As previously foreshadowed at the February 2008 AGM, Mr Kevin Hayes will retire from the Board, effective 30 January 2009. Mr Hayes was appointed a Director in October 2002 and was the Chairman of Timbercorp Limited from 2002 until October 2008.

The Board would like to thank Mr Hayes for his insight and leadership and the significant contribution he has made to the Company across all areas of corporate activity.

For further information visit call:

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