Forum Archive Index - April 2001

["mark walley" <mark_walley@hotmail.com>]

RBC
23/04/2001

GEN REL: 0956 HRS Rubicon Limited

GEN: RBC: RUBICON TO RETAIN FLETCHER FORESTS SHARES

Rubicon has advised that it has elected not to exercise its right to put 
upto 117m Fletcher Challenge Forests Preference Shares to Fletcher Building. 
Aspart of the transactions giving rise to the separation of the 
FletcherChallenge Group, Rubicon was granted an option by Fletcher Building 
to put toFletcher Building at a price of $0.25 per share up to 117m of the 
267mFletcher Challenge Forests Preference Shares acquired by Rubicon as part 
ofthe sub-underwriting arrangements entered into in connection with 
theFletcher Challenge Forests rights issues completed in December 2000.  
Thatoption was exercisable by Rubicon up to 22/04/2001. Rubicon continues to 
hold492m Fletcher Challenge Forests shares representing approximately 17.6% 
ofFletcher Challenge Forest's issued share capital.End

CA:00066301 For:RBC    Type:GEN        Time:2001-04-23:09:57:13 Encrypt:Y

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