[LOGO] TENON                                                        News Release
Wood Solutions to the World


TO:        THE BUSINESS EDITOR
From:      Paul Gillard - Director, Corporate & Legal Services, Tenon Limited
           Telephone:         64-9-571 9846
           Fax:               64-9-571 9872

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Information on Tenon Limited can be found at http://www.tenon.co.nz.

                    STOCK EXCHANGE LISTING: NEW ZEALAND (TEN)

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      TENON ANNOUNCES COMPLETION OF STRUCTURAL SALE TO CARTER HOLT HARVEY

Auckland,  28 April 2005 - Tenon  announced today that it had completed the sale
to Carter  Holt  Harvey  of its  Structural  Solutions  business.  The  business
comprises the company's  mills and  remanufacturing  plants  located at Kawerau,
Rainbow Mountain (near Rotorua),  and Mt Maunganui,  together with related sales
and  marketing  and  operational   support  functions.

Commenting on today's completion, Chief Executive John Dell said, "Completion of
the sale enables us to focus all our energies on growing our leadership position
in the high-end  appearance  wood products  markets on the  international  stage
where we believe there are good value opportunities for Tenon."

Tenon retains its mill and other  facilities at Taupo,  and its  investments  in
North  America  (notably The Empire  Company and  American  Wood  moulding)  and
Europe.

Following the sale, the company will have no debt and positive cash on hand.

ENDS