Gunns plans to release market update on implications of US$23M compensation settlement with Tasmanian government before market opening on Sept. 19

LAUNCESTON, Tasmania , September 16, 2011 (press release) – As noted in the market release of 14 September 2011 agreement has been reached between the company and the Tasmanian State Government in respect of the Tasmanian Forests Agreement. The company is continuing to assess the matters arising as a result of the agreement and other developments in respect of the company restructure and Bell Bay pulp mill project.

The company expects to finalise a market update for release prior to market opening on 19 September 2011 with re-quotation of the company’s securities to occur at that time.

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