Matariki Forests To Explore Opportunities

19 August 2008

Matariki Forests To Explore Strategic Opportunities

The shareholders of Matariki Forests have today announced their intention to explore the future ownership of their New Zealand assets.

Matariki Forests owns the third largest forest estate comprising 140,000 hectares of high quality Radiata Pine well distributed throughout New Zealand.

This is part of an ongoing strategic review and to assist in this review the shareholders are in the process of appointing a financial advisor.

Paul Nicholls, Managing Director of Rayonier New Zealand Ltd forest managers for Matariki, said that if the investigations proceed to a sale it is intended to sell the business as a going concern.

Matariki Forests is owned by a consortium and managed by Rayonier New Zealand, a subsidiary of Rayonier Inc.

ENDS

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