COMPANY ANNOUNCEMENT / MEDIA RELEASE Thursday, 11 September 2003 Great Southern Plantations to raise up to $55 million through issue of reset convertible notes Great Southern Plantations (ASX code: GTP) is pleased to announce that it intends to raise up to $55 million through the issue of Transferable REset Exchangeable Securities (“TREES”), to provide additional working capital, predominantly for the acquisition of further land for lease under its managed investment scheme projects, as well as funding for port infrastructure and new product development. The offer will be made under a prospectus through a fully underwritten issue of 500,000 TREES to raise $50 million, with the capacity to accept oversubscriptions to raise an additional $5 million, subject to shareholder approval. TREES are a perpetual, subordinated reset convertible note that may be converted into Ordinary Shares upon the occurrence of certain events which will be described in the Terms of Issue. The TREES are expected to pay a fully franked Coupon yield at the higher of 6% per annum or 0.5% above the 5 year Swap Rate prevailing on the Issue Date, until the first reset date on 31 October 2008. TREES Holders will also participate in any increase in the Great Southern Ordinary Share price above $1.95 by virtue of a Minimum Conversion Number. The detailed terms of issue of the TREES, which will be incorporated into the prospectus, are attached. The prospectus relating to this issue is expected to be lodged with the Australian Securities and Investments Commission later today. A copy will be released to the ASX at the same time as it is lodged with ASIC, and will contain full details of the offer, the detailed terms of the security and further information in respect of the intended use of funds. Investors who wish to apply to take part in the offer will need to complete the application form that will be in or will accompany the prospectus. For further information please call: Cameron Rhodes Executive Director Ph (08) 9320 9700; 0438 901 804 David Ikin Marketing & PR Manager Ph (08) 9320 9700; 0408 438 772
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