Fletcher Challenge Forests Share Price

AUCKLAND, 9 October 2000 – In response to the 17 cents per share decrease in the price of the Fletcher Challenge Forests share, to 63 cents since 3 October, the Chief Executive Officer of Fletcher Challenge Limited, Mr Michael Andrews, advised the New Zealand Stock Exchange today that as previously indicated, intensive and comprehensive work on the separation process of the company’s targeted stock structure, is continuing.

However, he added that Fletcher Challenge is currently not in a position to make any further statement regarding that process. The company has kept the market fully informed of the alternatives being pursued.

Mr Andrews reiterated when arrangements are finalised, an announcement will be made.

ENDS