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Capital Raising Update

Capital Raising Update

BBL is pleased to advise that the recently completed capital raising was successful with approximately $20.5 million raised in total. This is well in excess of the minimum subscription of $12.5 million and slightly below our maximum subscription of $25 million. Timbercorp MIS growers subscribed for approximately $3 million of the total $20.5 million, with the majority of the remainder coming from existing shareholders and other parties close to the company. Allotment of shares is scheduled for 4 January 2010.