EXERCISE: KRK: Extension of Expiry Date for Exercise of Director Options

8 Apr 2010 11:31 am

KRK 08/04/2010 EXERCISE

REL: 1131 HRS Kirkcaldie & Stains Limited

EXERCISE: KRK: Extension of Expiry Date for Exercise of Director Options

Market announcement - 8 April 2010

Extension of Expiry Date for Exercise of Director Options

Kirkcaldie & Stains Limited wishes to advise that it has extended the expiry date for the 250,000 options held by Mr John Milford, the Company's Managing Director.

The Company granted the options to Mr Milford in February 2007 following the necessary shareholder approvals being obtained for the purposes of the NZSX Listing Rules at the Company's 2007 annual meeting.

Under their terms, the options were due to expire on 30 March 2010 unless the Company agreed to extend the period for their exercise.

The Board (other than Mr Milford) agreed in March to extend the expiry date for the options to 31 May 2010.

The Board believes that extending the period for the exercise of the options will continue to ensure that Mr Milford's and shareholder's interests are aligned and continue to provide an additional incentive for Mr Milford to enhance shareholders' returns.

ENDS

For further information please contact Kerrie Cole, Company Secretary Kirkcaldie & Stains Limited. Tel: (04) 499-7283 End CA:00193516 For:KRK Type:EXERCISE Time:2010-04-08:11:31:08

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