New Directors for City Forests

Media Release re Appointment of New Directors to the Board of
City Forests Limited

Following agreement from the Dunedin City Council, Dunedin City Holdings Limited is pleased to announce the names of two new directors for the board of City Forests Limited. The appointments are to be effective from 1 November 2012.

The two new directors, both from Dunedin, are Mr John Gallaher and Mr Tony Allison. They will join Mr Ross Liddell and Mr Mike Coburn on the board which will comprise four members.

Mr John Gallaher is a senior investment professional with Forsyth Barr Limited who began his commercial career with roles in banking, finance corporate management and marketing 35 years ago. John is Chairman of TracPlus Global Limited, Daestra Holdings Limited, United Way NZ Limited, Tui Motu Foundation Inc. and the Upstart Investment Committee and he has several other directorships.

Mr Tony Allison is currently the CEO of Night ‘N Day Foodstores Limited that in the last few days ranked very highly in the Deloitte Fast 50 List. Prior to that he was the Chief Operating Officer and a director of Calder Stewart Industries Limited where he gained experience of forestry operations. Tony is also currently a director of AA Cleaners (Otago) Limited, St Clair Beach Resort, Southern Team Co 2008 Limited and the Southern Steel Netball Team.

Both these two Dunedin directors have excellent corporate governance understanding and collectively they will bring to the board experience of governance and the forestry industry relevant to the business of City Forests Limited.

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