Content

• NZX releases final proposed NZX Legal and Regulatory framework

  11 December 2003 – New Zealand Exchange Limited (NZX) has today published the final proposal for the new NZX Legal and Regulatory framework along with miscellaneous changes to several NZX Listing Rules.

• NZX announces new market participant structure

  4 December 2003 – New Zealand Exchange Limited (NZX) wishes to announce that it has redefined the framework for regulating and monitoring the conduct of NZX market participants. Accordingly, NZX is releasing today a new market participant structure and draft NZX Participant Rules for public review and submission. The NZX Participant Rules will replace the NZX Business Rules, NZX Regulations and Code of Practice. The rules that apply to market participants have been renamed the "NZX Participant Rules", to better reflect who these rules will apply to and the expanded participant base.

• Update on trading in BK Registries securities

  1 December 2003 - BK Registries are now connected to FASTER. The market in securities handled by BK Registries will reopen at 3:30pm today.

• Trading in BK Registries securities

  1 December 2003 - Due to the unavailability of BK Registries, who have disconnected from FASTER while correcting an error in overnight processing, NZX has suspended trading in all of the following issuers' securities:

• Response to proposed ASX Listing Rule amendments

  28 November 2003 - NZX has provided a response to the ASX Exposure Draft distributed on 20 October 2003 which detailed proposed ASX Listing Rule amendments.

• NZX makes formal submission to Electricity Commission

  27 November 2003 - New Zealand Exchange Limited (NZX) wishes to announce that it has made a formal submission to the Electricity Commission to provide market services to New Zealand’s electricity market. The NZX proposal would see it take the place of M-Co as pricing manager, clearing manager, and market administrator.

• NZX announces NZAX 1st XV

  12 November 2003 – New Zealand Exchange Limited (NZX) is delighted to announce the starting line-up of the NZAX 1st XV issuers.

• NZX selects Telecom for strategic network upgrade

  4 November 2003 – New Zealand Exchange Limited (NZX) is pleased to announce that it has selected Telecom New Zealand Limited (Telecom) to provide a strategic network upgrade, subject to agreement of final terms and conditions.

• NZX Corporate Governance Rules & other Listing Rule changes

  29 October 2003 – New Zealand Exchange Limited (NZX) wishes to advise that the new NZX Corporate Governance Listing Rules will come into effect from today, Wednesday 29 October 2003.

• NZX releases third quarter results

  15 October 2003 – New Zealand Exchange Limited (NZX) is pleased to announce its operating result for the quarter ended 30 September 2003, and the nine months ended 30 September 2003.

• NZX accredits nine additional Sponsors for NZAX Market

  17 October 2003 – New Zealand Exchange Limited (NZX) is delighted to announce today that, subject to the Ministerial approval of the NZAX Listing rules, an additional nine NZX Sponsors have been accredited to support the opening of the NZAX Market in November. Bancorp New Zealand Limited, Chapman Tripp, Clavell Capital, Duncan Cotterill, First NZ Capital Securities, Grant Samuel and Associates Limited, ISAMBARD Limited, Jones Young, and Lowndes Jordan.

• NZX Finalises NZSX Index Family

  16 October 2003 - New Zealand Exchange Limited (NZX) wishes to advise that it has finalised the makeup and structure of the remaining NZSX indices, the NZSX 10, the NZSX MidCap, the NZSX SCI (Small Cap) and the NZSX All.

• NZAX Market Listing Rules are now approved

  22 October 2003 – New Zealand Exchange Limited (NZX) wishes to announce that the Governor General, by Order in Council, has approved the final NZAX Listing Rules on the recommendation of the Minister of Commerce, the Honourable Lianne Dalziel. The new Listing Rules come into effect from 1 November 2003.

• Wool Equities Limited takes pole position in NZAX First XV

  14 October 2003 – New Zealand Exchange Limited (NZX) is delighted to announce that Wool Equities Limited’s offering documentation has now been approved, and they will be the first company to list on the new NZAX Market when it launches on Friday November 14.

• NZX appoints 10th Sponsor for NZAX Market

  30 September 2003 – New Zealand Exchange Limited (NZX) is delighted to announce today the accreditation of the tenth NZX Sponsor, to support the opening of the NZAX Market in November. Ernst & Young Corporate Finance Limited, one of New Zealand’s largest professional services firms, today joins the nine sponsors previously accredited to the role of NZX Sponsor.

• NZAX Market off to good start with accreditation of nine NZX Sponsors

  29 September 2003 - New Zealand Exchange Limited (NZX) is delighted to announce the accreditation of the first nine NZX Sponsors. ABN AMRO Craigs Limited, Cimino & Partners Limited, Forsyth Barr Limited, Giffney & Jones, Greenslades Limited, KPMG Corporate Finance, Macquarie Equities New Zealand Limited, Morel & Co Limited, and Quigg Partners make up this initial group. In addition, we are currently considering a further two applications.

• NZX market opening delay – an explanation

  23 September 2003 – NZX today experienced some technical difficulties which resulted in the market opening being delayed.

• NZX restarting the market

  23 September 2003 – NZX would like to advise all market participants that the market will open today at 2:45pm.

• NZX moves to quarterly reporting

  22 September 2003 - New Zealand Exchange Limited (NZX) will move to quarterly reporting starting with the September 2003 quarter.

• NZX appoints Christopher Corke as CIO

  19 September 2003 – New Zealand Exchange Limited (NZX) wishes to announce the appointment of Mr Christopher Corke as Chief Information Officer (CIO).

• NZX to develop futures & options for New Zealand

  17 September 2003 – New Zealand Exchange Limited (NZX) has today signed a deal with the SFE Corporation (SFE) for the listing and trading of New Zealand equity derivative products. The deal enables NZX to provide a range of futures and options contracts to New Zealand investors through the listing of these equity products on the Sydney Futures Exchange.

• August 2003 Operating Metrics Released

  10 September 2003 - NZX has released its August operating metrics. The metrics give a monthly update on NZX's operations and performance, covering measurements such as total market capitalisation, monthly value traded, and numbers of listed issuers and quoted securities.

• NZX Market Closure – An Explanation

  20 August 2003 – Today NZX determined that the electronic messages originating from RMLT, one of the three New Zealand share registries that manage the transfer of shares between brokers' accounts and clients' accounts, were faulty

• Restart of NZX Markets

  20 August 2003 - Please be advised that following the suspension of the market at 11.26 am today, NZX is now satisfied that the market integrity issues have been resolved.

• NZX has closed trading

  20 August 2003 - NZX wishes to inform all market participants that it has closed trading in the New Zealand capital markets from 11:30am today due to an issue arising from a software upgrade at RMLT, a registry of Computershare New Zealand.

• NZX to publish monthly operating metrics

  19 August 2003 - New Zealand Exchange Limited (NZX) will be publishing monthly operating metrics from August 2003 onwards.

• New Zealand Exchange Limited Releases Final Corporate Governance Submission

  13 August 2003 - NZX wishes to advise that it has released the final version of its proposed Listing Rule changes on Corporate Governance and will be making a submission to the Minister of Commerce within the next two weeks.

• NZX Releases Half Year Results

  1 August 2003 - NZX has announced its half year financial results to 30 June 2003.

• NZX Share Allotment Complete

  9 July 2003 – New Zealand Exchange Limited (NZX) wishes to announce that the allotment of all new NZX shares has taken place. Of the $10 million available for allocation, NZX received subscriptions for $41.88 million from Institutions, NZX Brokers on behalf of clients, and from the public pool.

• NZX IPO Closes after Heavy Retail Interest

  7 July 2003 – New Zealand Exchange Limited (NZX) wishes to announce that its IPO closed on Friday 4 July after much interest from New Zealand investors. The public issue was oversubscribed and all staff, Directors, NZX Firm, and Institutional allocations were fully taken up.

• NZAX Market in Final Stages of Development

  7 July 2003 – NZX wishes to announce that it has reached a significant milestone in the development of its new NZAX market. Having applied for and submitted the necessary exemptions and draft NZAX Listing Rules to the Securities Commission for review, Phase One of development of the new NZAX market is now complete.

• NZX IPO Pricing Announcement

  23 June 2003 - New Zealand Exchange Limited (NZX) is pleased to announce that the final price for the IPO Shares has been set by the NZX Board at $3.60 per share.

• New Zealand Exchange Limited ("NZX") registers Investment Statement and Prospectus for Rights Offer and IPO.

  4 June 2003 - New Zealand Exchange Limited has registered an Investment Statement and Prospectus dated 3 June 2003 for its combined Rights Offer and IPO.

• NZX Rights

  3 June 2003 - NZX today announced details of its 1:2 renounceable rights issue. The issue price for the rights will be $1.50, which will be payable in full on application.

• NZX Important Market Update

  3 June 2003 - In advance of our listing of head shares and rights on the NZSX market tomorrow, NZX wishes to advise all market participants of some important coding information.

• NZSE Announces a New Name for a New Kind of Exchange

  30 May, 2003 - The New Zealand Stock Exchange wishes to announce today that it has officially changed its name from NZSE Limited to New Zealand Exchange Limited, trading as NZX. The company will also take the ticker symbol ‘NZX’ when it lists on the Exchange’s main board on Wednesday 4 June.

• NZSE Limited Announces Further Details of its Listing and Public Offer

  28 May 2003 NZSE Limited ('NZSE') wishes to announce further details of its proposed public offer and listing on the Exchange's Main Board. NZSE intends to raise $15 million with $10 million raised by way of new shares for subscription and $5 million from a rights issue.

• Promina Group Limited to take First Dual Primary Listing on NZSE

  7 May 2003 - NZSE Limited ("NZSE") is pleased to announce that Promina Group Limited ("Promina") will be the first Dual Primary Listed Issuer on the New Zealand Stock Exchange when it lists on Monday May 12 2003.

• Improving Regulatory Structure and Performance

  6 May 2003 - After extensive consultation with industry participants, NZSE Limited ('NZSE') has developed and released publicly its final recommendations for Corporate Governance. NZSE has also released a detailed proposal for a modified legal and regulatory framework. Both proposals have today been sent to the Securities Commission for review in accordance with the agreed process under the MOU, with the legal and regulatory framework open to public submissions until June 6, 2003.

• NZSE Releases Final Corporate Governance Rules and Proposed New Regulatory Framework for New Zealand's Capital Markets

  6 May 2003 -After extensive consultation with industry participants, NZSE Limited ("NZSE") has developed and released publicly its final recommendations for Corporate Governance. NZSE has also released a detailed proposal for a modified legal and regulatory framework. Both proposals have today been sent to the Securities Commission for review in accordance with the agreed process under the MOU, with the legal and regulatory framework open to public submissions until June 6, 2003.

• Listing Statement

  6 May 2003 - In accordance with the Listing Rules (Appendix 3, Rule 18) NZSE today notified the Special Division of the Market Surveillance Panel of its intention to list on the Main Board of the Exchange.