RIGHT: NWF: Investment Statement and Prospectus

7 Apr 2010 4:27 pm

NWF 07/04/2010 RIGHT

REL: 1627 HRS NZ Windfarms Limited

RIGHT: NWF: Investment Statement and Prospectus

NZX Announcement

07 April 2010

For Immediate Release

COMBINED INVESTMENT STATEMENT AND SHORT FORM PROSPECTUS

As previously announced, the Company is seeking to raise approximately $31.4 million through an eight for three renounceable rights issue to its New Zealand resident shareholders at a subscription price of $0.15 per share ("Offer").

The Company is pleased to announce that a copy of the combined investment statement and short form prospectus containing the terms of the Offer has today been delivered to the Registrar of Companies at Auckland for registration ("Offer Document").

Key dates and times for the Offer are set out below:

Record Date 5.00 pm, 7 April 2010

Opening date 8 April 2010

Rights trading on NZSX commences 8 April 2010

Rights trading on NZSX ceases 27 April 2010

Closing date 5.00 pm, 29 April 2010

Expected allotment of New Shares 4 May 2010

Expected notification of allotments 4 May 2010

Expected quotation of New Shares 5 May 2010

Subject to the Securities Act 1978 and the NZSX Listing Rules, the Company may amend the dates and times specified above at its discretion. Any changes to the timetable will be announced through NZX.

Full details of the Offer are set out in the Offer Document.

For any enquiries contact Steve Cross Chief Executive Officer (03) 943 5410

ENDS End CA:00193461 For:NWF Type:RIGHT Time:2010-04-07:16:27:23

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