Completion of Carter Holt Harvey Forest sale

To: Market Announcement Platform Company: NZX

Company Announcement Platform ASX

From: Nikki Cooper Date: 3 October 2005

Subject: Completion of Carter Holt Harvey Forest sale

On 15 July 2005 Carter Holt Harvey Limited advised the market that it had entered into an agreement to sell 94,300 hectares of forests to a consortium comprising Rayonier Inc. and RREEF Infrastructure, the global infrastructure arm of Deutsche Asset Management for $435 million.

Carter Holt Harvey is pleased to confirm that Completion of the sale has now occurred.

Nikki Cooper
Administrator – Company Secretarial

ENDS

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