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 initial public offering of shares.

The key terms of the offers are:

• A 1:2 rights offer to existing shareholders, with an application price of $1.50 per share
• an IPO to raise $10m
• an indicative price range for the IPO shares of $2.50 - $3.25.

The record date to determine entitlements for the rights offer was Friday, 30 May 2003.

The IPO will open on Monday, 9 June 2003 and close on Friday, 4 July 2003. The Board will set the final price for the IPO on Monday, 23 June 2003. The Board reserves the right to set the final price outside the indicated price range.

Full details of both offers are detailed in the Investment Statement and Prospectus, which are available in the frequently-asked questions section of the investor relations centre.

Applications for the offer must be made using the application form inside the printed copy of the Prospectus, which is available from NZX Firms. A directory of NZX Firms can be found under Market Data.

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