Fletcher Challenge Forests – CNIFP Agreement

Auckland, 9 April 2002 – Fletcher Challenge Forests has been advised by the Receivers of the Central North Island Forest Partnership that a “back-up agreement” for the sale of the assets of the CNIFP had been signed by the Receivers with another party. No other details have been made available.

As previously advised, the contract which is being progressed for the proposed acquisition by Fletcher Challenge Forests Limited is conditional upon Fletcher Challenge Forests satisfying a number of conditions, following which a shareholders’ meeting would be required to approve the transaction.

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