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Fletchers Responds To Commerce Commission

FLETCHER CHALLENGE RESPONDS TO
COMMERCE COMMISSION EXTENSION

AUCKLAND, 31 October, 2000 – Dr Roderick Deane, Chairman of Fletcher Challenge Limited, today acknowledged Shell’s announcement that it had agreed to the Commerce Commission’s request for a time extension to enable it to consider Shell’s second application to acquire Fletcher Challenge Energy.

Speaking following Shell’s announcement that it has agreed to the Commerce Commission’s request for a time extension Dr Deane said, “The Shell and Apache offer represents outstanding value for Fletcher Challenge Energy shareholders, and we remain hopeful that Shell’s application will be cleared.”

“We look forward to the Commission announcing its decision on November 17th.”

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