Press statement

21 January 2004

For Immediate Release

Trustee spokesperson, Angle Foulkes, said “That the Trustees of the Crown Forestry Rental Trust have accepted the resignation of Karen Waterreus, as Chief Executive of the Trust, which was tendered to it on 20 January 2004”.

End

Note on the structure of the Crown Forestry Rental Trust

The Trust was established in 1990 after an agreement between the Crown, the New Zealand Maori Council and the Federation of Maori Authorities.

There are six Trustees, three appointed by the New Zealand Maori Council and the Federation of Maori Authorities, and three by the Crown.

In practice most decisions are made by consensus.

The Trust can distribute the interest, but not the principal, it earns from the rental proceeds received from the Crown Forest licences.

The distributions are to be made with the aim of assisting Maori in the preparation, presentation and negotiation of claims involving Crown forest licensed lands.

The Trust neither has a direct role in the treaty settlement process (which is the responsibility of the Waitangi Tribunal and the Office of Treaty Settlements) or in the management of the pre or post settlement activities of claimants, although it does seek to ensure that lack of appropriate funding does not delay claimants in their settlement activities.

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