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Andrew Forrest

On 11/12 March 2006, an article published on pages 41 and 44 of the weekend edition of The Sydney Morning Herald contained statements and opinions about Andrew Forrest and his conduct as a director of Fortescue Metals Group Limited. The Herald acknowledges that the allegations against Mr Forrest have proved to be totally unfounded. The Herald retracts them unreservedly and sincerely apologises to Mr Forrest for any distress, harm and damage the article may have caused him, his family and friends.