SSH: DIL: SSH Notice (Spring Street Partners LP)

19 Feb 2010 1:04 pm

DIL 19/02/2010 SSH

REL: 1304 HRS Diligent Board Member Services INC (NS)

SSH: DIL: SSH Notice (Spring Street Partners LP)

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: Purchase of ordinary shares

Date of relevant event: 17 February 2010 (US time)

To NZX (announce@nzx.com) And Diligent Board Member Services, Inc. ("DIL")

Date this disclosure made: 19 February 2010 (NZ time) Date last disclosure made: 30 March 2009 (US time)

Substantial security holder(s) giving disclosure: Name(s): Spring Street Partners LP ("Spring Street") Contact details: c/o David Liptak, Spring Street Partners LP, 515 Madison Avenue, 22nd Floor, New York, NY 10022 USA, dliptak@spring-street.net, 917-603-3314

Summary of substantial holding to which disclosure relates: Class of listed voting securities: ordinary shares Summary for Spring Street:

For this disclosure, total number held in class: 5,507,403 total in class: 90,440,000 (c) total percentage held in class: 6.08%

For last disclosure,-- total number held in class: 2,387,263 total in class: 90,440,000 total percentage held in class: 3.13%

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: On 17 February 2010, Spring Street purchased 2,500,000 ordinary shares of DIL from Services Share Holding LLC for a purchase price of US$607,910.

Details of relevant interests in substantial holding after relevant event: Spring Street now holds 5,507,403 of the ordinary shares of DIL following the purchase by Spring Street of 2,500,000 ordinary shares as described above.

Details for Spring Street: Nature of relevant interest(s): Spring Street is the registered and beneficial shareholder of 5,507,403 ordinary shares in DIL, representing 6.08% of the total ordinary shares on issue. No relevant agreement is required to be attached under Regulations 11 or 14.

For that relevant interest, number held in class: 5,507,403 percentage held in class: 6.08% current registered holder(s) of securities: Spring Street Partners LP registered holder(s) of securities once transfer registered: Spring Street Partners, LP Additional information: Nature of connection between substantial security holders: N/A Address(es) of substantial security holder(s): Spring Street Partners LP, C/o David Liptak, 515 Madison Avenue, 22nd Floor, New York, NY 10022. 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: N/A

Declaration I, David Liptak, 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 Spring Street Partners LP for whom it is made.

David Liptak President End CA:00191406 For:DIL Type:SSH Time:2010-02-19:13:04:31

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