SSH: DGL: SSH (Robert (Bob) Lawrence Wilton)

7 May 2010 1:34 pm

DGL 07/05/2010 SSH

REL: 1334 HRS Delegat's Group Limited

SSH: DGL: SSH (Robert (Bob) Lawrence Wilton)

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest or both Sections 23 and 24, Securities Markets Act 1988

Relevant event being disclosed: Change in nature of relevant interest Date of relevant event: 7 May 2010 To: NEW ZEALAND STOCK EXCHANGE (NZX) And: DELEGAT'S GROUP LIMITED (DGL) Date this disclosure made: 7 May 2010 Date last disclosure made: 21 April 2006

Substantial security holder(s) giving disclosure Name(s): Robert (Bob) Lawrence Wilton Contact details: Bob Wilton - 09 359 7300 - r.wilton@auckland.ac.nz

Summary of substantial holding to which disclosure relates Class of listed voting securities: Ordinary Shares - NZDGLE0001S5 Summary for: Robert (Bob) Lawrence Wilton (as one of three Trustees of Delegat's Share Protection Trust)

For this disclosure,-- (a) total number held in class: 67,857,142 (b) total in class: 100,500,000 (c) total percentage held in class: 66.52%

For last disclosure,-- (a) total number held in class: 32,928,571 (b) total in class: 100,000,000 (c) total percentage held in class: 32.93%

Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure under the instructions to this form: Delegat's Share Protection Trust is a trust established pursuant to a deed of trust dated 5 October 2009 as part of a Delegat family estate planning reorganisation. Pursuant to that reorganisation, on 9 October 2009 Jakov (Jim) Nikola Delegat transferred the 33,928,571 DGL shares that he owned to the trustees of the Delegat's Share Protection Trust for a consideration of $80,749,998 in the following two steps carried out contemporaneously:- (1) Jim Delegat transferred the DGL shares to the trustees of the Jakov Nikola Delegat Business Trust; and (2) the Jakov Nikola Delegat Business Trust subsequently transferred the same DGL shares to the trustees of the Delegat's Share Protection Trust. The transfers were by way of off-market transfer. The transaction that gives rise to this relevant event is that Robert (Bob) Lawrence Wilton replaces Andre Gaylard as a trustee of the Delegat's Share Protection Trust, and joins his co-trustees Jakov (Jim) Nikola Delegat and Rosamari Suzan Delegat. Details of relevant interests in substantial holding after relevant event Details for: Robert (Bob) Lawrence Wilton Nature of relevant interest(s): Non-beneficial, registered holder in capacity as co-trustee of Delegat's Share Protection Trust (as to 33,928,571 shares) and a trustee with co-trustee, Rosamari (Rose) Suzan Delegat, of the Rose Delegat Business Trust (as to 32,928,571 shares) and a beneficial, registered holder of 1,000,000 shares. For that relevant interest,-- (a) number held in class: 67,857,142 (b) percentage held in class: 66.52% (c) current registered holder(s) of securities: Jakov (Jim) Nikola Delegat and Rosamari Suzan Delegat and Andre Gaylard, together the trustees of the Delegat's Share Protection Trust (d) registered holder(s) of securities once transfers registered: Jakov (Jim) Nikola Delegat and Rosamari Suzan Delegat and Robert (Bob) Lawrence Wilton, together the trustees of the Delegat's Share Protection Trust

Additional information Nature of connection between substantial security holders: Jakov (Jim) Nikola Delegat and Rosamari (Rose) Suzan Delegat and Robert (Bob) Lawrence Wilton, together the trustees of Delegat's Share Protection Trust Address(es) of substantial security holder(s): Level 1, 10 Viaduct Harbour Avenue, Auckland Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: Andre Gaylard

Declaration I, Robert (Bob) Lawrence Wilton, declare that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. End CA:00194654 For:DGL Type:SSH Time:2010-05-07:13:34:52

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