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Evergreen Bid Process Moves To Next Stage

News Release
13 May 2005


Evergreen Forests Limited announced today that it has received a number of conditional proposals that were of interest to the Company as a result of the competitive sale process announced on 24th March last. A limited number of parties have been admitted to a formal due diligence process to be managed by Investment Banking advisors Forsyth Barr.

The Company has also received an expression of interest from Mighty River Power Limited to consider a wind farm development on the company’s North Kaipara property.

The time for final bids to be submitted is 15 July 2005 and a further announcement can be expected shortly after that date.


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