Results of Special Meeting of Shareholders

Friday, 23 July 2004, 9:56 am
Press Release: Carter Holt Harvey

At the special meeting of shareholders held earlier today, the following resolution was considered:

“That the Arrangement relating to the return of capital to shareholders, as set out in the Arrangement Document accompanying the Explanatory Notes to the Notice of Special Meeting, be approved.”

Voting was conducted by way of a poll. The company’s joint auditors, Ernst & Young and Deloittes, have completed and certified their count of the votes cast at the meeting and the Chairman of the Meeting has declared that the resolution has been carried by a majority of 99.9%.

The result of the poll was as follows:

Votes FOR the resolution 1,430,200,060 (99.9%)

Votes AGAINST the resolution 1,453,763 (0.1%)

The Directors are pleased with the outcome of this special meeting, and thank shareholders for their confidence in the Board.

The company will now seek a final order from the High Court sanctioning the return of capital on the basis set out in the Arrangement Document sent to all shareholders with the Notice of Meeting.

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