Company Information for Gunns Limited

ASX-GNS

www.gunns.com.au

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ASX; GNS

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Company Statement

Gunns Limited is Australia's largest fully integrated hardwood forest products company. It owns 185,000 hectares of freehold land and manages in excess of 110,000 hectares of plantations. The company employs about 1700 people and has a turnover of approximately AUS$700 million.

Gunns was founded in 1875 by brothers John and Thomas Gunn and is one of Australia's oldest companies. The company has experienced continued growth and is now Australia's largest hardwood producer, operating five modern sawmills throughout Tasmania. These sawmills produce seasoned framing timbers, rough sawn kiln dried hardwood and value-added hardwood products such as laminated beams, tongue and groove flooring, mosaic and block parquetry, mouldings and furniture components. Gunns also produces jarrah sawn timber from its Western Australian sawmilling operations.

Gunns Limited also operates Tasmania's two veneer factories and a veneer factory in Christchurch, N.Z. The veneer operations fit well with the existing timber operations and make the company the largest producer of sliced veneer in Australia and New Zealand.

Gunns operates four woodchip export ports in Tasmania, exporting eucalyptus woodchips produced from sawmilling residues and residual pulpwood from integrated harvesting operations. The ability to dispose of residues for this purpose is a responsible use of a resource and an effective means of adding greater value to the timber harvested from Tasmania's forests. If not used for this purpose these residues would be burnt as a waste product from sawmilling.

Gunns Limited is and has always been committed to the best use of the available resource. It is totally against our operating philosophy to permit any timber processed by this company to be marketed short of its full potential.