Announcements     |   11 December 2002

Fletcher Building Limited Purchase of December 2002 Capital Notes

Fletcher Building advises that it has elected to purchase all of the December 2002 capital notes from those Noteholders who elected to convert their capital notes into ordinary shares of Fletcher Building Limited rather than accept the new terms set for the capital notes.  The purchase will occur on 16 December 2002 in accordance with the Trust Deed under which the capital notes were issued.