MEDIA RELEASE

21 June 2005

CFRT Releases Annual Report

Crown Forestry Rental Trust (CFRT) today released its 2004/05 Annual Report at a presentation to its Appointors, the New Zealand Maori Council, Federation of Maori Authorities and Minister of Finance.

CFRT was established in 1990 to provide assistance to Maori with Treaty claims involving Crown forest licensed land. The report details a successful year for CFRT, which has improved the way it assists Maori with claims to Crown forest licensed land.

“CFRT has transformed its approach to working with claimant groups.” Chief Executive, Ben Dalton said. “Funding assistance to claimant groups has increased by 27.5%. Research assistance for Maori has increased by 31.8% and administration costs have been reduced by 16%.”

CFRT holds rental from Crown forest licensed land in trust until Maori and the Crown resolve ownership of claims over Crown forest licensed land. CFRT currently holds $396.7 million in trust. CFRT invests the rental money in Government bonds and bank deposits and uses interest to fund eligible groups.

CFRT encourages cooperation between claimants and all groups must meet clearly defined eligibility criteria prior to receiving CFRT assistance. CFRT demands high levels of performance from Maori and the Crown because only Maori and the Crown can settle claims – not CFRT.

Trustees look forward to the day when the claims to Crown forest land are finally settled. “The sooner the claims to Crown forest licensed land are settled and the assets released for investment the better.” Mr Dalton said. “CFRT is committed to assisting eligible groups achieve this goal as quickly as possible.”

CFRT Trustees will be undertaking public meetings to present the report to claimant communities from 4-7 July in Blenheim (Admirals Motor Lodge), Whangarei (Kingsgate Hotel), Thames (Thames War Memorial Civic Centre), Rotorua (Quality Resort Heritage), Taupo (Great Lake Centre), Materston (Copthorne Solway Park), Wanganui (Avenue Hotel & Conference Centre), Napier (East Pier Beach Bar & Brassiere) and Gisborne (Gisborne Hotel).

ENDS

Background

The Crown Forestry Rental Trust is an independent trust with equal numbers of Maori and Crown appointed Trustees. It receives no taxpayer funding.

The main purpose of Trust is the management and administration of interest earned from investment of rental proceeds from Crown forest licensed land.

It uses this interest to assist eligible Maori claimants in the preparation, presentation and negotiation of claims involving Crown forest licensed land before the Waitangi Tribunal and in Direct Negotiations with the Office of Treaty Settlements. CFRT cannot settle Treaty claims.

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