Clarification: Fletcher's Petrolz Shareholding

Clarification:
Fletcher Challenge Energy’s shareholding in Petroz N.L.

AUCKLAND, 3 October 2000 – Fletcher Challenge Energy issues the following information to clarify its shareholding in Petroz N.L. following the exercise of the option on October 2, 2000.

The option entitled Fletcher Challenge Energy’s subsidiary, E&P Carnarvon Ltd, to 29,514,890 shares, equivalent to 14.99% of Petroz N.L’s issued capital of 196,765,947 shares. Following the exercise of the option, E&P Carnarvon Ltd owns 13.04% of Petroz’s new issued capital of 226,280,837 shares.

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