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Revised Toll Offer

Hon Dr Michael Cullen
Minister of Finance

5 September 2003
For Immediate Release Media Statement

Revised Toll Offer

Acting Finance Minister Trevor Mallard said he has received advice from the Tranz Rail Board of the increased offer from TOLL Holdings and their view that this represents greater certainty of value for shareholders.

Trevor Mallard said the revised offer has no effect on the Crown’s Heads of Agreement with TOLL Holdings.


ENDS

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