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

13 May 2010 3:35 pm

PGW 13/05/2010 SSH

REL: 1535 HRS PGG Wrightson Limited

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

Disclosure of ceasing to have substantial holding Section 25, Securities Markets Act 1988

To: NZX And: PGG Wrightson Limited Date this disclosure made: 13 May 2010 Date last disclosure made: 26 April 2010

Substantial security holder(s) giving disclosure Name(s): Rural Portfolio Investments Limited Contact details: John Baird McConnon baird.mcconnon@aorangi.biz 03 471 8937 Date on which substantial security holder(s) ceased to have substantial holding: 11 May 2010

Summary of previous substantial holding to which disclosure relates Class of listed voting securities: ordinary shares in PGG Wrightson Limited Summary for Rural Portfolio Investments Limited

For last 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 current holding after ceasing to have substantial holding: (a) total number held in class: 0 (b) total in class: 758,440,543 (c) total percentage held in class: 0

Details of transactions and events giving rise to person ceasing to have substantial holding Details of the transactions or other events requiring disclosure under the instructions to this form: Receivers were appointed over the shares in PGG Wrightson Limited (PGW) owned by Rural Portfolio Investments Limited (RPI) on 3 May 2010. The receivers sold the PGW shares owned by RPI for a total amount of $24,317,731.36, with settlement occurring on 11 May 2010. As a result of that settlement, the beneficial relevant interest of RPI in those shares has ceased.

Additional information Nature of connection between substantial security holders: N/A Address(es) of substantial security holder(s): Mcgrath Nicol + Partners (NZ) Limited, level 17, 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: Kerryn Mark Downey and Andrew John Grenfell, and Craigs Investment Partners Limited

Declaration I, John Baird McConnon, 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:00194861 For:PGW Type:SSH Time:2010-05-13:15:35:55

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