Yearly Report :: Greenplan

Forest Data For 2000 Plantings

Partnership Name	Average Prune Height (APH)	Pruned SPH	Average DV	Average Tree Height
Millennium Partnership 44	6.4000	294.0000	19.2000	12.9000
Tunnel Rock Partnership 46	6.4000	297.0000	21.3000	13.9000

Key Management Activities Completed 2009 Third lift pruning, final thin and final audits completed in Partnerships 44 & 46 Continued observations of forest health and monitoring of pests Key Management Activities for 2010 Continued observations of forest health and monitoring of pests Revisit and collect data from permanent record plots Average unit price * Prices listed in Thousands Secondary Market Activity Sold Since: 1 January 2009 Average Price: $6,650 Price Range: $6,500 - $6,800 Number Sold: 2 Forest Manager's Comments: At the completion of all operations forest consultants P F Olsen & Company Ltd perform a final audit. The audit is performed to ensure all management requirements within the prospectus have been achieved. A (PRP) plot has now been established in Partnership 47 Dunmore West. The sample area selected will help assist us when forecasting growth rates and potential yields. Data will be collected from the same trees each year. GFM Ltd Forest Manager April 2010

Key Management Activities Completed 2009

Third lift pruning, final thin and final audits completed in Partnerships 44 & 46
Continued observations of forest health and monitoring of pests

Key Management Activities for 2010

Continued observations of forest health and monitoring of pests
Revisit and collect data from permanent record plots

Average unit price

* Prices listed in Thousands

Secondary Market Activity

Sold Since: 1 January 2009
Average Price: $6,650
Price Range: $6,500 - $6,800
Number Sold: 2

Forest Manager's Comments:

At the completion of all operations forest consultants P F Olsen & Company Ltd perform a final audit. The audit is performed to ensure all management requirements within the prospectus have been achieved.

A (PRP) plot has now been established in Partnership 47 Dunmore West. The sample area selected will help assist us when forecasting growth rates and potential yields. Data will be collected from the same trees each year.

GFM Ltd
Forest Manager
April 2010