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Shareholders Approve Sale Of Evergreen’s Assets

26 September 2005

Shareholders Approve Sale Of Evergreen’s Assets

Evergreen Forests Limited announced that shareholders voted today in favour of the sale of substantially all of its forest and land assets to James Fielding Funds Management Limited for approximately $115million.

The sale remains conditional upon Overseas Investment Office approval, with settlement planned for 31 October 2005.

Chairman Peter Wilson said that the company would now work to consider and recommend the preferred basis for distribution of proceeds to shareholders and investigate options that may give rise to the sale of residual assets to best advantage to shareholders.

ENDS

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