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.

Please read this information carefully, as specific actions may be required by participants as a result.

Market Announcements by NZX as Regulator:

All announcements that NZX makes to the market in its capacity as a regulator, will be issued under the code "NZXR".

This could include any rulings from the Market Surveillance Panel, any announcements relating to trading halts on stocks, or information relating to market activity of listed issuers.

NB: In order to allow market participants time to update all codes and related databases, we will continue to issue announcements until 13 June 2003, under both "NZXR" and "NZSE". From 13 June, all announcements from NZX as a regulator, will only be issued under "NZXR".

Market Announcements by NZX as a Listed Issuer:

All announcements relating to NZX as a listed issuer, will be issued to the market under the code "NZX".

This could include financial statements, disclosure obligations, and important notices from the company.

For More Information:
Bridgit Vivian
New Zealand Exchange Limited
04-496-2874
027-472-2599

NEW ZEALAND EXCHANGE LIMITED.
LEVEL 9, ASB BANK TOWER, 2 HUNTER STREET, PO BOX 2959, WELLINGTON, NEW ZEALAND.
Telephone +64 4 472 7599
Fax +64 4 496 2893
www.nzx.com