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Wind Farm Discussions With Mighty River Power

Wind Farm Discussions With Mighty River Power

News Release
21 July 2005

EVERGREEN FORESTS AND MIGHTY RIVER POWER IN WIND FARM DISCUSSIONS

Evergreen Forests Limited Chairman Peter Wilson confirmed that the company is in discussion with Mighty River Power over a potential large scale wind farm development on Evergreen Forests Limited’s West Coast North Island property.

Initial technical work has been completed and the scale of the potential project and the preliminary economic analysis indicates significant potential for the site, but will require further investigation to confirm.

Mighty River Power Chief Executive, Dr Doug Heffernan said the company was very interested in continuing investigation into the potential development, especially given that this single project could deliver up to 2% of New Zealand’s electricity needs close to our major centre of population.

Ends

Evergreen is a public company listed on the NZSX Market. The company owned or had cutting rights over 19,184 stocked hectares (47,404 acres) planted in fast-growing radiata pine at 31 December 2004. Its forest properties are principally located in Northland, South Auckland, the East Coast and the West Coast of the South Island. The company’s web site is located at: www.evergreen.co.nz. For information on the NZSX Market and the company’s share price on the NZSX Market, please go to: www.nzx.com


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