SSH: PGW: SSH Notice (Kerryn Mark Downey and Andrew John Grenfell)

6 May 2010 10:32 am

PGW 06/05/2010 SSH

REL: 1032 HRS PGG Wrightson Limited

SSH: PGW: SSH Notice (Kerryn Mark Downey and Andrew John Grenfell)

DISCLOSURE OF BEGINNING TO HAVE SUBSTANTIAL HOLDING Section 22, Securities Markets Act 1988

To: NZX Limited And: PGG Wrightson Limited Date this disclosure made: 6 May 2010

Substantial security holder(s) giving disclosure Name(s): Kerryn Mark Downey and Andrew John Grenfell Contact details: Kerryn Mark Downey (phone: 09 926 5110, email: kdowney@mcnp.co.nz) Date on which substantial security holder(s) began to have substantial holding: 3 May 2010

Summary of substantial holding to which disclosure relates Class of listed voting securities: ordinary shares in PGW Summary for: Kerryn Mark Downey and Andrew John Grenfell

For this disclosure,-- total number held in class: 46,764,868 total in class: 758,440,543 total percentage held in class: 6.17%

Details of relevant interests currently in substantial holding Details for: Kerryn Mark Downey and Andrew John Grenfell Nature of relevant interest(s): Appointed as receivers in respect of specific assets of Rural Portfolio Investments Limited For that relevant interest,-- number held in class: 46,764,868 percentage held in class: 6.17% current registered holder(s) of securities: Rural Portfolio Investments Limited registered holder(s) of securities once transfers registered: Rural Portfolio Investments Limited Details of transactions and events giving rise to person beginning to have substantial holding Details of the transactions or other events requiring disclosure under the instructions to this form: Appointed as receivers in respect of specific assets of Rural Portfolio Investments Limited, including the shares held by Rural Portfolio Investments Limited in PGW, by letter of appointment dated 3 May 2010.

Additional information Nature of connection between substantial security holders: Appointed receivers. Address(es) of substantial security holder(s): Level 17, Auckland Club Tower, 34 Shortland Street, Auckland 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 Limited

Declaration I, Kerryn Mark Downey, 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:00194571 For:PGW Type:SSH Time:2010-05-06:10:32:52

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