expression of interest in great southern trees

Following the previous announcement from Gunns Plantations Ltd (GPL) on 28 January 2011 regarding the sale of land formerly owned by the Great Southern group of companies,

please be advised that the land purchaser has subsequently written to GPL to express interest in developing an offer for the purchase of the plantation assets of the Great Southern Plantations 1998-2006 managed investment schemes (the Schemes).

Any offers for the acquisition of managed investment scheme assets will require assessment by GPL in its role as the Responsible Entity for the Schemes to realise the best value for Growers.

GPL will participate in discussions with the land purchaser to determine whether an appropriate offer for the purchase of the plantation assets can be made.

The terms of any such offer will determine the process for consideration of that offer.