SSH: PGW: SSH Notice (Rural Portfolio Investments Limited)

26 Apr 2010 4:24 pm

PGW 26/04/2010 SSH

REL: 1624 HRS PGG Wrightson Limited

SSH: PGW: SSH Notice (Rural Portfolio Investments Limited)

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest or both Sections 23 and 24, Securities Markets Act 1988

Relevant event being disclosed: change in nature of relevant interest Date of relevant event: 26 April 2010 To: NZX And: PGG Wrightson Limited Date this disclosure made: 26 April 2010 Date last disclosure made: 21 April 2010

Substantial security holder(s) giving disclosure Name(s): Rural Portfolio Investments Limited Contact details: Sandra Keay sandra.keay@aorangi.biz (03) 471 8953 Summary of substantial holding to which disclosure relates Class of listed voting securities: ordinary shares in PGG Wrightson Limited Summary for Rural Portfolio Investments Limited

For this disclosure: (a) total number held in class: 46,764,868 (b) total in class: 758,440,543 (c) total percentage held in class: 6.17%

For last disclosure: (a) total number held in class: 95,222,318 (46,764,868 by Rural Portfolio Investments Limited and 48,457,450 by its wholly owned subsidiary Rural Portfolio Investments Securities Limited) (b) total in class: 758,440,543 (c) total percentage held in class: 12.56% (6.17% by Rural Portfolio Investments Limited and 6.39% by Rural Portfolio Investments Securities Limited)

Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure under the instructions to this form: Rural Portfolio Investments Securities Limited has on 26 April 2010 settled the off-market sale of its 48,457,450 PGG Wrightson Limited (PGW) shares, which was the subject of a substantial security holder notice filed on 21 April 2010. The consideration was $0.56cps ($27,136,172.00). As a result of this settlement, the non-beneficial relevant interest of Rural Portfolio Investments Securities Limited in those shares has ceased. Rural Portfolio Investments Securities Limited is separately filing a substantial security holders notice to the effect that it has ceased to be a substantial security holder in PGW.

Details of relevant interests in substantial holding after relevant event Details for Rural Portfolio Investments Limited Nature of relevant interest(s): Registered holder and beneficial owner of securities. For that relevant interest,-- (a) number held in class: 46,764,868 (b) percentage held in class: 6.17% (c) current registered holder(s) of securities: Rural Portfolio Investments Limited (d) registered holder(s) of securities once transfers registered: Rural Portfolio Investments Limited only

Additional information Nature of connection between substantial security holders: N/A Address(es) of substantial security holder(s): 10th Floor, John Wickliffe House, 275 Princes Street, Dunedin. Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: Rural Portfolio Investments Securities Limited.

Declaration I, Sandra Anne Keay, declare that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. End CA:00194170 For:PGW Type:SSH Time:2010-04-26:16:24:21

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