GENERAL: NZX: NZX Index Treatment of DNZ Property Fund Limited

23 Jul 2010 5:37 pm

NZX 23/07/2010 GENERAL

REL: 1737 HRS NZX Limited

GENERAL: NZX: NZX Index Treatment of DNZ Property Fund Limited

23 July 2010. NZX has received a significant number of enquiries about the eligibility of DNZ Property Fund (DNZ) for inclusion in one or more of the NZX equity indices. The eligibility of any listed company, including new listings, for inclusion in an NZX index is determined by application of the NZX Equity Indices Methodology.

The NZX All index, and sector indices derived from it including the Property index, is subject to Monthly Index Updates and Quarterly Index Reviews. The rules in respect of the NZX All Index provide that new listings are eligible for inclusion at the first Monthly Index Update or Quarterly Index Review after listing, provided that the security has commenced trading prior to the Monthly Index Update announcement or Quarterly Index Review announcement1. DNZ has announced a first trading date of Monday 16 August 2010.

As per previously announced schedules of Index Updates and Reviews, the first Index Review announcement that will occur after DNZ commences trading on NZX's Main Board will be on 8 September 2010. Therefore DNZ will be added to the NZX All and Property indices as part of the September Index Review, which becomes effective 20 September 2010.

A number of criteria must be met for a new listing to be added to the NZX 50 Index, including a trading history requirement. To be considered for addition at a Monthly Index Update, the security must have commenced trading prior to the Monthly Index Update announcement. For addition at a Quarterly Index Review, 20 days' trading history is required prior to the Quarterly Index Review announcement. This is to allow reliable assessment of ranking and liquidity.

On this basis, DNZ will therefore be considered for addition to the NZX 50 Index at the October Monthly Index Update. Full criteria for addition to the NZX 50 Index can be found in the NZX Equity Indices Methodology, available on request from NZX.

As previously announced, and following a recent methodology review involving external consultation, NZX will release an updated methodology document on Monday 2 August.

ENDS

For more information, please contact: Merja Myllylahti Stakeholder Relations Manager E-mail: merja.myllylahti@nzx.com Communications Phone: 04-4962890 extension 890 NZX Limited Mobile: 027-5127832

Changes to NZX Equity Indices in no way reflect an opinion on any NZX Listed Issuer - they are determined solely by the NZX Equity Indices Methodology. Quarterly Index Reviews are conducted in March, June, September and December of each year, and Monthly Index Updates in all other months.

NZX Index subscribers receive NZX Index Memos via email and the i-search platform. For more information about the i-search product please email data@nzx.com

1 As announced by NZX in September 2009, the effective date of both Monthly Index Updates and Quarterly Index Reviews is the first trading day after the third Friday in the month. Monthly announcements are made five trading days ahead of the effective date. As announced March 2010, Quarterly announcements are made seven trading days ahead of the effective date. End CA:00197592 For:NZX Type:GENERAL Time:2010-07-23:17:37:38

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