Pyne Gould Corporation (PGC) said that a report in the Christchurch Press
today stating that Chairman Sam Maling had stepped down was incorrect.
The directors who resigned last year were Warwick Steel, Richard Elworthy and
Stephen Montgomery. While Sam Maling has indicated his intention to step
down, he will remain a director of Pyne Gould Corporation Limited until the
new board is in place and confirmed.
Colin Hair
Company Secretary
End CA:00190290 For:PGC Type:DIRECTOR Time:2010-01-19:11:23:39