R&D Program Wins Government Award TIMBERCORP LIMITED 2002-08-05...

R&D Program Wins Government Award

TIMBERCORP LIMITED 2002-08-05 ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
Federal Government agency AusIndustry has awarded Timbercorp Limited
an Innovation Certificate recognising the ongoing development of new
technologies that improve the productivity and profitability of blue
gum plantations.

Strategic investment in new technology delivers significantly
improved results from eucalypt plantations, demonstrating that the
plantation industry can provide high quality wood fibre for export
markets and is a real alternative to harvesting natural forests.

The award covers projects across the value chain of Timbercorp's blue
gum business - genetic advances in tree breeding, precision in the
establishment, nutrition and pest management of treefarms and the
in-field wood processing system now being used in Western Australia
for Timbercorp's first plantation harvests.

Timbercorp, Australia's largest agribusiness investment manager,
operates a eucalypt plantation estate of more than 70,000 hectares in
south-west Victoria, south-east South Australia and Western
Australia. The company also manages major olive and almond projects
in central and north-west Victoria.

AusIndustry, as the Federal Government's main business assistance
agency, operates the R&D tax concession program, in which Timbercorp
is a participant along with 3,500 other Australian companies.

For further information, contact:

Robert Hance
CHIEF EXECUTIVE OFFICER
Telephone: (03) 8615 1200

Sol Rabinowicz
EXECUTIVE DIRECTOR
Telephone: (03) 8615 1200
Or refer to the Timbercorp website: www.timbercorp.com.au