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Evergreen Advises Data Error In Interim Report
4 May 2005
Evergreen Advises Data Error In Interim Report
Evergreen Forests Limited (Evergreen) announced today that its independent valuers, Jaakko Poyry Consulting (JPC), have advised that while their forest valuation for the period ending 31 December2004 was correctly statedat $106.1 million there was an error in one of the price sensitivity analyses provided by JPC and subsequently included in the Company's interim report to shareholders for the period to 31 December 2004.
On the basis that prices for the period ending June 2005 (31 December 2004 valuation) remain constant the tree crop valuation is $45.7 million and not the figure of $85.2 million stated in the interim report. The valuation of $106.1 million used in the Evergreen's financial statements remains unchanged.
Evergreen will announce the forest valuation for the period ending 30 June 2005 when JPC’s assessment at that date has been concluded.
ENDS
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