Acquisition of Interest in New Zealand MDF Plant

Fletcher Building Limited advises that it has entered into an agreement with the Korean-based Dongwha Holdings Group to acquire a 20 percent interest in their New Zealand subsidiary, Dongwha Patinna NZ Limited, subject to approval under Overseas Investment Act 2005.

Dongwha Patinna NZ operates a medium density fibreboard (MDF) plant in Mataura, Southland, and has been Laminex’s principal source of replacement supply of MDF in New Zealand following the destruction of the Taupo plant by fire in September 2006.

Fletcher Building has also secured the option to acquire a further 30 percent of Dongwha Patinna NZ in the period 1 January 2009 to 31 December 2010.

For further information contact:

Jonathan Ling
Chief Executive Officer
Ph: 649 525 9169
Mob: 64 21 777 703

Bill Roest
Chief Financial Officer
Ph: 649 525 9165
Mob: 6421 990 779