OFFICE: SGL: Appointment of Managing Director

24 May 2010 2:55 pm

SGL 24/05/2010 OFFICE

REL: 1455 HRS Speirs Group Limited

OFFICE: SGL: Appointment of Managing Director

24 May 2010

Speirs Nutritionals Partners LP - Appointment of Managing Director

Nelson Speirs, Chairman of Speirs Group Limited, today announced the appointment of Rick T. Gain BBS, CA, CMA, Dip Bus and Admin (Marketing) as Managing Director of Speirs Nutritionals Partners LP ("SNP"). SNP is a 59.61% owned subsidiary of Speirs Group Limited. The appointment is effective from 1 July 2010.

Rick Gain has broad and extensive experience in the management of global pharmaceutical businesses. Currently Vice President Commercial Development for GlaxoSmithKline Pte Ltd in Singapore, his earlier appointments included Vice President and General Manager GlaxoSmithKline Philippines Inc., Managing Director GlaxoSmithKline (Thailand) Ltd and General Manager Chemicals Division GlaxoSmithKline Australia Limited.

Omega 3 fish oil offers specific and well known health benefits. SNP holds exclusive rights to micro-encapsulation technology developed by New Zealand's Riddet Institute that enables the introduction of omega 3 fish oil into a wide range of food and beverage products while avoiding the traditional omega 3 tastes and smell.

SNP produces omega 3 fish oil emulsion for marketing under the name "Omelife" - a trade name established by SNP's marketer and distributor Croda Europe Limited - for this fast growing segment of the global market for functional foods. Croda Europe Limited (a subsidiary of Croda International plc - a UK based conglomerate) is a world leader in the supply of specialty ingredients and chemicals for the health care and nutrition industries.

SNP's purpose-built, high capacity manufacturing facility in Marton has been scaled to meet the expected volume demands of major international functional foods producers serving global markets in omega 3 oils, as well as a range of other specialist food products.

David Speirs, the principal driver in the establishment of SNP, will continue as a director of SNP.

For further information please contact:

Nelson Speirs OR Rodney Wong Chairman Chairman Speirs Group Limited Speirs Nutritionals Partners LP nelsons@speirs.co.nz rwong@xtra.co.nz 06 350 6003 06 356 8977 027 4456692

ENDS End CA:00195251 For:SGL Type:OFFICE Time:2010-05-24:14:55:22

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