Matariki Forests completes $167 Million investment by Phaunos

Matariki Forests is pleased to announce that it has completed the investment by Phaunos Timber Fund Limited in the Matariki Forestry Group today. The aggregate investment is NZD 167 million.

Phaunos Timber Fund Limited is a global timberland and timber related assets investor listed on the Main Market of the London Stock Exchange and managed by FourWinds Capital Management based in Boston.

Paul Nicholls, Managing Director of Rayonier New Zealand Ltd forest managers for Matariki said Overseas Investment Office approval had been granted and the transaction finalised today. He said the company welcomed the Phaunos investment as it underlined the positive outlook for the company and was looking forward to working with the very experienced Phaunos team who bring with them considerable international timberlands investment knowledge. __________________________________________________________________________

Editors note

About Matariki:

Matariki Forests is owned by a consortium and managed by Rayonier New Zealand, a subsidiary of Rayonier Inc

About Phaunos

Website: www.phaunostimber.com

Phaunos Timber Fund Limited (“The Company”) is a Guernsey-domiciled Authorised Closed-ended investment. The Company’s objective is to provide shareholders with attractive long term total returns, expected to be in the form of capital appreciation but with some income, through a diversified portfolio of timberland and timber-related investments. Investments are managed by FourWinds Capital Management. The Company ticker is PTF.