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IFTWB - Underwrite Share Placement

17 Jul 2009

The following information is provided in accordance with Listing Rules 7.12
Class of security:     Ordinary Shares

Number of Ordinary Shares issued:     7,811,769
Issue Price:    $1.64

Payment:    In cash

Amount paid up:  Ordinary Shares issued as fully paid up

Percentage of the total class of securities issued (after the issue):  1.34%

Reason for the issue:  Placement of shares under IFTWB underwrite.

Specific authority for the issue:  Board approval dated 03 July 2009

Terms or conditions of the issue: Placed as part of the arrangements for the underwrite of the IFTWB series warrants with First NZ Capital Securities announced on 19 June 2009

Total number of Ordinary Shares in existence after the issue:  580,949,233

Total number of ordinary shares in existence after the issue and after deduction of Treasury Stock:    568,204,862
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