NZX Appeal Panel members appointed by Securities Commission

14 September 2004 – New Zealand Exchange Limited (NZX) wishes to advise the market that the Securities Commission has appointed the following people to the NZX Appeal Panel:

Simon Upton, QC and Euan Abernethy as legal appointees

• John Rattray and Don Turkington as former market participants
• Peter Clapshaw and Bill Thurston as former Directors
• Brian Allison as the member of the public.

NZX Appeal Panel was established under the NZX Discipline Rules which came into force on 3 May, 2004 to hear appeals on matters arising from NZX Discipline rulings.

NZX Discipline replaces the market surveillance panel, the Complaints Committee and the Disciplinary Committee. Its function is to determine whether there has been a breach of the rules that apply to the markets NZX operates and the participants that operate in those markets.

For more information, please contact:

Bridgit Vivian
New Zealand Exchange Limited
04-496-2874
027-472-7599