DRP: FPH: DIVIDEND REINVESTMENT PLAN - LETTERS TO SHAREHOLDERS

28 May 2010 9:34 am

FPH 28/05/2010 DRP

REL: 0934 HRS Fisher & Paykel Healthcare Corporation Limited

DRP: FPH: DIVIDEND REINVESTMENT PLAN - LETTERS TO SHAREHOLDERS

DIVIDEND REINVESTMENT PLAN - LETTERS TO SHAREHOLDERS

Auckland, New Zealand, 28 May 2010 - Fisher & Paykel Healthcare Corporation Limited (NZSX:FPH, ASX:FPH) attach sample copies of letters to shareholders residing in New Zealand and Australia, notifying them of Fisher & Paykel Healthcare's decision to introduce a 3% discount under its Dividend Reinvestment Plan.

The discount will apply in respect of the 2010 final dividend, payable on 9 July 2010, and in respect of future dividends until such time as the Board determines otherwise. Participation Notices must be received by the Company's Share Registrar by 5.00pm New Zealand time on 25 June 2010 to be effective for the 2010 final dividend.

Contact: Tony Barclay, Company Secretary on +64 9 574 0119. For more information about the Company visit www.fphcare.com.

Dear Shareholder

DIVIDEND REINVESTMENT PLAN

Fisher & Paykel Healthcare Corporation Limited (Fisher & Paykel Healthcare) has declared a final dividend of 7 cents per share. That dividend will be paid on 9 July 2010.

On 26 May 2009, Fisher & Paykel Healthcare established a Dividend Reinvestment Plan (DRP) under which shareholders may elect to reinvest all or part of their cash dividends in additional Fisher & Paykel Healthcare shares. The DRP provides a convenient method for reinvesting all or part of your dividends in further Fisher & Paykel Healthcare shares free of brokerage charges. Shareholder participation in the DRP is optional.

Consistent with its announced intention to increase the equity base of the Company, the Board has introduced a 3% discount to shares issued under the DRP. This discount will be applied when determining the price per share of shares issued under the DRP and will be applied in respect of the 2010 final dividend and future dividends until such time as the Board determines otherwise.

If you wish to commence participating in the DRP or to vary your current participation election, a DRP Participation Notice is enclosed. DRP Participation Notices and a copy of the DRP Offer Document may also be obtained from Fisher & Paykel Healthcare's website www.fphcare.com/investor/dividends_ord.asp or by phoning the share registry, Computershare Investor Services, on +64 9 488 8777. The completed Participation Notice should then be returned to the share registry in accordance with the instructions appearing on the Participation Notice.

For an application or variation to be effective for the 2010 final dividend, your completed Participation Notice will need to be received by the share registry by 5.00pm on 25 June 2010.

If you are already participating in the DRP and do not wish to alter your current level of participation, you will automatically be entitled to the discount and do not need to take any action.

Yours sincerely

Tony Barclay Company Secretary End CA:00195479 For:FPH Type:DRP Time:2010-05-28:09:34:32

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