ASX RELEASE

TFS APPOINTS TWO NEW INDEPENDENT DIRECTORS 29 June 2011 TFS Corporation (ASX: TFC) Executive Chairman, Frank Wilson, today announced the appointment of two new independent directors. Company director, lawyer, and former diplomat and politician, the Honourable Richard Alston and Australian cricketing great, Adam Gilchrist will be joining the TFS board. Both have extensive international experience. Mr Alston and Mr Gilchrist will be replacing Mr Blake Myles and Mr Ian Murchison who are resigning from the TFS Board. Mr Wilson thanked Mr Murchison and Mr Myles for their dedicated service, and for their considerable contribution to the success of TFS in the formative stages of the company. The appointments are effective from July 1. In addition TFS is in advanced discussions with another potential board member with extensive corporate finance and asset management experience and expects to make a formal announcement in late July. Mr Wilson said the appointments bring new skills which will strengthen the TFS Board.” “As part of the company’s strategy to become the world’s leading grower, processor and supplier of Sandalwood products, it is important to bring international experience to the Board table,” Mr Wilson said. Mr Alston has been appointed Chairman-elect of TFS, and will take over the Chairmanship from Mr Wilson at the next annual general meeting. “Mr Alston’s international experience, as Australian High Commissioner to the United Kingdom, and particularly his ongoing London based activities, his general corporate and commercial experience, as well as his long service as a senior Federal cabinet minister will be invaluable. The fact that he is held in high regard by the international investment community will be of considerable assistance to TFS,” Mr Wilson said. Adam Gilchrist also brings high quality skill sets to the Board. “Adam Gilchrist has been working with TFS as its Global Ambassador for the last 12 months and his understanding of TFS products and their potential in new markets has already proved to be a valuable asset,” Mr Wilson said. With Mr Alston taking over the Chairman’s position, Mr Wilson will be taking up the newly created role of Chief Executive of TFS, which will allow him to focus on the development and execution of the new business model with the company moving towards greater ownership of its plantations. “TFS aims to significantly increase its own plantations within the next five years. This is the next step towards TFS’ plan for vertical integration, where shareholders will benefit directly from the growing, processing and selling of sandalwood products,” Mr Wilson said.

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The Hon Richard Alston Richard Alston is a non-executive director of UK listed public company Chime PLC and a director of Australian based companies CQS (Investment Management) Australia Pty Ltd, Nanuk Asset Management Pty Ltd and Balmoral Gardens Pty Ltd. He is also a member of the International Advisory Board of London based hedge fund CQS LLP and a member of the Asia-Pacific Regional Advisory Board of Alcatel-Lucent. Since 2004 he has been an Adjunct Professor of Information Technology at Bond University, Queensland. From 2005-08 he was Australian High Commissioner (Ambassador) to the United Kingdom and from 1996-2003 he was the Federal Minister for Communications, IT and the Arts in the Australian Parliament. He served as a Senator for Victoria from 1986-2004 and was Deputy Leader in the Senate for more than ten years. Prior to taking up his London post he was a director of Hansen Technologies Ltd, UCMS Pty Ltd and Broadcasting Services Australia Ltd, of which he served as Chairman. Adam Gilchrist Adam Gilchrist is one of Australia’s best known international cricketers and is currently the captain of the Kings XI Punjab in the Indian Premier League. As the Global Ambassador for TFS Corporation since June 2010, he has been involved in the promotion of sandalwood-based products in high-growth countries on the sub-continent such as India, and has an understanding of TFS products and their potential in new markets. Mr Gilchrist is a member of the Local Steering Committee for the Commonwealth Business Forum, to be held prior to the Commonwealth Heads of Government Meeting (CHOGM) in Perth in October 2011, and is currently Chairman of the National Australia Day Council, appointed by the Prime Minister in 2008. Mr Gilchrist was a Non-Executive Director of Travelex Australasia from 2003-2008. He retired from international cricket in 2008 and is the only wicketkeeper in Australia to have captained the Australian Test and One Day teams. He is acknowledged for his leadership, sportsmanship and outstanding contribution to Australian cricket. In June 2010, Adam was awarded the Order of Australia (AM) for his services to cricket and his contribution to charity. Frank Wilson Quentin Megson Executive Chairman Chief Financial Officer Ph: +61 8 9386 3299

For further investor and analyst queries, please contact:

Martyn Jacobs General Manager – Corporate Strategy Ph: 0412 785 180

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ABOUT TFS TFS Corporation Ltd (ASX: TFC) is an owner and manager of Indian sandalwood plantations in the east Kimberley region of Western Australia. As part of its vision to be a vertically integrated producer of finished sandalwood products, TFS owns a significant proportion of the plantations in its own right and in 2008 acquired Mount Romance Australia (Mount Romance), the Albany-based sandalwood processor and oil distributor. TFS was founded in 1997 to exploit the success of government trials into the plantation growth of Indian sandalwood in the Ord River Irrigation Area (ORIA) of north-east Western Australia. TFS’s first planting was in 1999 and it now manages the largest area of Indian sandalwood plantation in the world, with approximately 4,500 hectares planted in the ORIA. TFS plantations are managed on behalf of both retail and institutional investors. TFS has a land bank of over 1,200 plantable hectares for future sandalwood plantings in the ORIA and at its Kingston Rest property 65 kilometres south of the ORIA. The company listed on the Australian Stock Exchange in December 2004 and is currently capitalised at approximately $240 million. TFS is committed to adopting and maintaining the highest environmental and ethical standards in all aspects of its business. All plantations are grown on land that has previously been used for agricultural or horticultural production. As the first ORIA land owner to recycle its water, TFS was the winner of the 2006 State Regional Water Award. In 2009, TFS entered the prestigious Forbes Asia Pacific's ‘Best Under a Billion’, which recognises the Top 200 companies from more than 25,326 publicly-listed firms in the Asia/Pacific region with revenue of less than US$1 billion. ABOUT INDIAN SANDALWOOD Indian sandalwood has a history as a tradeable commodity spanning thousands of years, but is now endangered due to the illegal harvest of wild trees throughout the world. As a result, Indian sandalwood is the world’s most expensive tropical hardwood and continues to increase in price each year. Its heartwood currently trades for in excess of A$110,000 per tonne, having risen at a compounded rate of over 18% per annum over the past 18 years. Indian sandalwood oil is a globally important ingredient in fine fragrances, cosmetics and toiletries, incense sticks, and for medicinal purposes (aromatherapy and Chinese medicine) and the wood is used for high quality carvings. Indian sandalwood has a well entrenched market throughout the world, particularly in India and China, two of the fastest growing economies in the world. F

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