April 11, 2002
Statement made by Sun Xinguo, Managing Director, CITIC Forests ( NZ ) Ltd
Contrary to speculation, CITIC does not have a back up offer in place should Fletcher Forests not execute the purchase
of the assets of the Central North Island Forest Partnership.
CITIC was a party to discussions with the receiver over the future of CNIFP’s 190,000ha forestry assets.
However, it has no agreement with the receiver or knowledge of a backup agreement.
Ends