Tower appoints independent adviser

17 February 2017 Market Information NZX Limited Level 1, NZX Centre 11 Cable Street Wellington New Zealand Company Announcements Office ASX Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 Australia Tower appoints independent adviser Tower Limited (NZX/ASX:TWR) has appointed Northington Partners to prepare an Independent Adviser's Report on the proposed acquisition of 100% of Tower shares at $1.17 per share by Fairfax Financial Holdings Limited. Shareholders do not yet need to take any action in response to Fairfax's offer until they receive the Scheme Documentation, which will include the Tower Board's formal recommendation and a summary of the Independent Adviser's Report. ENDS TOWER Michael Stiassny Chairman Tower Limited ARBN 088 481 234 Incorporated in New Zealand To arrange media interviews, please contact in the first instance: Nicholas Meseldzija Tower Limited Head of Corporate Communications Mobile: +64 21 531 869 Email: nicholas.meseldzija@tower.co.nz End CA:00296968 For:TWR Type:S/A Time:2017-02-17 15:31:12