The following information is provided in accordance with
Listing Rules 7.12

Class of security: Partly paid Ordinary Shares

ISIN: NZIFTE0008S2

Number of Partly Paid Ordinary Shares issued: 87,665

Issue Price: $2.00

Payment: In cash

Amount paid up: Partly paid Ordinary Shares paid to $1.00

Percentage of the total class of securities issued (after the issue): 0.1%

Reason for the issue: As per the prospectus dated 29 August 2007.

Specific authority for the issue: Board approval dated 27 August 2007.

Terms or conditions of the issue: Ordinary shares partly paid to $1.00 with balance of $1.00 payable between 14 July 2008 - 8 August 2008.

Total number of Partly Paid Ordinary Shares in existence after the issue: 83,385,412

K M Baker

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