Resignation of Subsidiary (AWF Limited) COO

NZX Release 25 January 2017 AWF MADISON GROUP LIMITED (NZX: AWF) - The Board of AWF was informed at its meeting today, that Alex Park, the COO of subsidiary AWF Limited (the "Company"), has indicated that he wishes to pursue other interests, and has, accordingly, resigned his position with effect from March 2017. Alex, who was appointed in May 2015, has contributed significantly to the Company's operational positioning and has been instrumental in, amongst others, the implementation of new systems and driving change towards a more sustainable operational structure, than existed previously. Simon Bennett, the CEO of AWF, said of Alex: "...he has done an excellent job in an often challenging environment; and has created a platform for further refinement of the Company's structure, positioning it well for the future..." Simon said that with Alex's resignation, he would be reviewing the Company's management structure and would be considering the most appropriate one for that business going forward, which may, initially, include a greater personal involvement, until that structure is finalised. Ends Contact: Simon Bennett +64 21 0368 387 End CA:00295966 For:AWF Type:OFFICE Time:2017-01-25 09:24:05