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Bidder Satisfies Funding Condition

News Release
12 September 2005

Evergreen Forests’ Bidder Satisfies Funding Condition

James Fielding Funds Management Limited has advised Evergreen Forests Limited that the condition for investor approval of funding documentation has been satisfied.

ENDS

Evergreen is a public company listed on the NZSX Market. The company owned or had cutting rights over 18,959 stocked hectares (46,847 acres) planted predominantly in fast-growing radiata pine at 30 June 2005. Its forest properties are principally located in Northland, South Auckland and the East Coast.

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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