OFFICE: NWF: Termination of CEO's Contract of Employment

22 Mar 2010 2:07 pm

NWF 22/03/2010 OFFICE

REL: 1407 HRS NZ Windfarms Limited

OFFICE: NWF: Termination of CEO's Contract of Employment

22 March 2010

For immediate release

TERMINATION OF CHIEF EXECUTIVE OFFICER'S CONTRACT OF EMPLOYMENT

The Company's Chief Executive Officer, Steve Cross, is employed under a contract which terminates on 30 June 2010. Steve has advised the Board that, for personal reasons, he does not wish to extend his contract, apart from on a short term basis through to 30 August 2010 to assist in a transition.

The Board will immediately commence a review to establish the ongoing management requirements for the Company, and set in place a process to ensure that there is appropriate management capability in place for the Company from the end of Steve's contract.

The Company's present focus is on completing the Te Rere Hau project and the Company does not foresee any problems in obtaining the appropriate resource to ensure that this project continues seamlessly.

Ends End CA:00192775 For:NWF Type:OFFICE Time:2010-03-22:14:07:10

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