The Timber Thread

STILL 72 MILLION SHARES O/S?? (x$0.05 = $3.6 million MktCap)

NEW YORK, Sep 17, 2003 (BUSINESS WIRE) -- Timber Resources International, Inc. (TMBN) confirms its plans for revitalizing the company's wood business. The company is currently in negotiations with several potential acquisition targets and is focused on accelerating sales. Full details of these transactions will be announced in the near future.

In 2001, following the slowdown in the paper and forestry product industry, the company sold its non-strategic lumber manufacturing unit and has undergone the transition from bricks-and-mortar operations to a new business model focusing on developing Web-enabling solutions that optimize information retrieval and handling. As part of its new business strategy, the company plans to use its Internet know-how to build a wood portal to buy and sell the widest range of goods online.

"In the last few months, we have been analyzing potential acquisitions and other business opportunities with a view toward enhancing shareholder value," said Aziz Hirji, Chairman and President of Timber Resources International. "After reviewing and considering various alternatives, we have determined to focus on the wood products industry, including e-commerce transactions. We believe that combining our expertise and acquisition strategy with promising companies will create a stimulating environment for the growth of potential partner entities."

Aziz Hirji added, "The new Timber Resources will pursue realistic growth targets. Over the next 12 to 18 months, we will build a rock-solid foundation that can deliver reliable growth, and improve returns on invested capital. All this will deliver superior returns to shareholders."

As of September 12, 2003 the company has approximately 73,281,185 shares of common stock outstanding, with a float of approximately 18,030,346. In addition, the company had previously authorized an issuance of 2 million shares of common stock in a private placement, which has been subsequently rescinded. The company believes that Timber Resources' stock is undervalued and continues to represent an attractive investment opportunity.

LATER:
WILMINGTON, Del., Dec 2, 2003 (BUSINESS WIRE) -- Timber Resources International, Inc. (TMBN) today announced the repurchase and retirement of 1 million shares of common stock. This repurchase has reduced the float to 17,030,346 common shares. The company's board of directors authorized a stock repurchase program of up to 5 million shares in September 2003. Since the program's inception, Timber Resources International has rescinded the issuance of 2 million shares of common stock pursuant to a private placement. In addition, the company purchased and retired 5 million shares of common stock from one of its directors.