<PAGE>

                                                                    EXHIBIT 12.1

                                  CERTIFICATION

I, John Anthony Dell certify that:

1.       I have reviewed this annual report on Form 20-F of Fletcher Challenge
         Forests Limited;

2.       Based on my knowledge, this report does not contain any untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances under which
         such statements were made, not misleading with respect to the period
         covered by this report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this report, fairly present in all material
         respects the financial condition, results of operations and cash flows
         of the company as of, and for, the periods presented in this report;

4.       The company's other certifying officer and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the company
         and have:

         i.                Designed such disclosure controls and procedures, or
               caused such disclosure controls and procedures to be designed
               under our supervision, to ensure that material information
               relating to the company, including its consolidated subsidiaries,
               is made known to us by others within those entities, particularly
               during the period in which this report is being prepared;

         ii.               Evaluated the effectiveness of the company's
               disclosure controls and procedures and presented in this report
               our conclusions about the effectiveness of the disclosure
               controls and procedures, as of the end of the period covered by
               this report based on such evaluation; and

         iii.              Disclosed in this report any change in the company's
               internal control over financial reporting that occurred during
               the company's most recent fiscal quarter (the company's fourth
               fiscal quarter in the case of an annual report) that has
               materially affected, or is reasonably likely to materially
               affect, the company's internal control over financial reporting;
               and

5.       The company's other certifying officers and I have disclosed, based on
         our most recent evaluation of internal control over financial
         reporting, to the company's auditors and the audit committee of the
         company's board of directors (or persons performing the equivalent
         functions):

          (a) All significant deficiencies and material weaknesses in the design
          or operation of internal control over financial reporting which are
          reasonably likely to adversely affect the company's ability to record,
          process, summarize and report financial information; and

          (b) Any fraud, whether or not material, that involves management or
          other employees who have a significant role in the company's internal
          control over financial reporting.

Date: December 4, 2003

                           By: /s/ John A. Dell
                               -----------------
                               John A. Dell
                               Joint Chief Executive Officer and
                               Chief Financial Officer