Fletcher Challenge Energy
Fletcher Challenge House 810 Great South Rd. Penrose, Auckland, New Zealand www.fce.co.nz	Contact:	+64-9-525-9000 (Ph.) +64-9-525-9023 (Fax)

Fletcher Challenge Energy is the business division of Fletcher Challenge Limited responsible for the Company's energy operations. The division is listed as a separate targeted share on the New Zealand, Australian and New York Stock Exchanges with a market capitalisation of $NZ1.8 billion at 30 June 1998. As an international exploration and production company, Fletcher Challenge Energy is focused on achieving top quartile returns for investors. The company operates in three distinct geographical arenas - New Zealand, Canada and Brunei. Other opportunities for growth are being investigated in South America where the company is actively involved in exploration projects. While excellence in the upstream oil and gas industry is a key priority for Fletcher Challenge Energy, the company is involved in a retail and wholesale petrol business in New Zealand with the Challenge! chain of petrol stations.

Primary Line of Business: Exploration and production Ownership: Public Stock Exchange: NYSE Stock Ticker: FEG

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