EFTA00624944.txt

"Sustainable Woodlands Fund, L.P. is advised by Sustainable Woodlands Partners, L.L.C., a US Securities and Exchange Commission registered investment a"

"Salient Partners, L.P, recently welcomed Dan Amiri to their team as an analyst"

"On July 30, Anthony and SWF Red River Timber, LLC, signed a Memorandum of Settlement to settle all matters in the motion filed by Anthony to Vacate th"

"Molpus created three new management regions... Tom Tomlinson was promoted as the South Central Region Managing Director"

"On November 13, 2009, Sustainable Woodlands Fund II (the "Fund") closed on the acquisition of a substantial timberland property... The negotiated sale"

"SWF Red River received an advance payment of $1,754,852 for pine sawtimber at closing."

"SWF Red River was to receive payment for harvested volume in excess of 52,000 tons during the period beginning July I, 2009 thru closing. This payment"

"SUSTAINABLE WOODLANDS PARTNERS, L.L.C. GENERAL PARTNER SUSTAINABLE WOODLANDS FUND II, L.P."

"the General Partner is pleased to make this initial acquisition of 91,360 acres of timberland in Arkansas, Louisiana, and Texas on behalf of the Fund"

"The Fund's financial statements consolidate the operations of SWF Red River"

"David Scott has been elected by the Board of Managers to serve as Board Chairman"

"The pricing reset for the 2012 Timber Harvest Plan for Anthony Forest Products (Anthony) went to arbitration"

"Modeled Timber Prices for the Anthony transaction... MWG has historically used Forest2Market region specific data for multiple periods for the purpose"

"MWG has historically used Forest2Market region specific data"

"The timber supply agreement that will be in place between the Fund and Anthony will have a minimum 10-year duration"

"Additional beneficial provisions of the agreement include a minimum 25% cash advance at the beginning of each calendar year by Anthony on the value of"

"The purchase price translates into a modeled real return of 5.88 percent... throughout the 91,360 acres of timberland"

"Steve Marietta remains as Property Manager, reporting to Mr. Tomlinson"

"Jerry Mahon in our Monroe, Louisiana, office was promoted and assumes this responsibility"

"We met with three potential buyer of pine sawtimber... These buyers—Roy O. Martin Lumber Co., West Frazer Lumber Co., and Snider Lumber Co."

"We met with three potential buyer of pine sawtimber... These buyers—Roy O. Martin Lumber Co., West Frazer Lumber Co., and Snider Lumber Co."

"We met with three potential buyer of pine sawtimber... These buyers—Roy O. Martin Lumber Co., West Frazer Lumber Co., and Snider Lumber Co."

"the recent acquisition now known as SWF Red River Land, LLC and SWF Red River Timber, LLC"

"In November, we finalized the sale of 16,925 tons of pine sawtimber for $585,000"

"Molpus has met with Anthony's representatives to begin discussions"

"Anthony and Molpus met several times to discuss the stumpage price reset for both regular and large pine sawtimber"

"We finalized the purchase of eighty acres in Columbia County, Arkansas, on October 17, 2011"

"The SWF Red River investment has completed its first full year"

"The buyer, Becton Timber Company... This sale is for 18,690 tons of pine pulpwood, with an anticipated gross value of $299,040."

"BancorpSouth Operating Account 53.307285.78"

"Total investment of $177.120 million funded in 2009... based on the final purchase price of $1,895 per acre"

"The Molpus value-added team will seek to maximize that revenue as it did in our first timber fund, Sustainable Woodlands Fund, L.P."

"The returns are unaudited and reflect the best judgment of the General Partner. [referring to Molpus team in L0133]"

"Anthony continues to evaluate the 2012 Timber Harvest Plan... and will pay up to $1.0 million as a 25% advance payment when the contract closes"

"For Inv - GIS MTM Services 5,814.50... Prot - MTM Services 4,116.00... Ref-MTM Services 1,715.00... Siv - MTM Services 812.00... Vadat • MTM Services "

"With our management team in place at closing, we were able to immediately begin negotiating the sale of pine and hardwood pulpwood"

"Advance Deposit- Anthony AY0110 1,354,047.72"

"Molpus estimates based on due diligence are used for premerchantable acres"

"Please feel free to contact David Hicks (713-993-4038) with any questions or comments."

"reached verbal agreement with Koppers Industries to begin marking utility poles on the property, with plans to finalize the sale agreement in early 20"

"the Molpus team is aggressively pursuing spot market opportunities, while the Fund also benefits"

"Molpus successfully negotiated a $ I,950 per-acre price, or $156,000, for an 80-acre parcel in Ashley County, Arkansas"

"SWF Red River Entities - Management Units [followed by property maps and cash flow for Anthony Timberlands]"

"Please feel free to contact David Hicks (713-993-4038) with any questions or comments"

"Arkansas's Department of/consult= uses Forest2tAwket data"