NTA: TNZ: TNZ NTA 02-09-2010 $0.83002

3 Sep 2010 9:40 am

TNZ 03/09/2010 NTA

REL: 0940 HRS SmartTENZ

NTA: TNZ: TNZ NTA 02-09-2010 $0.83002

3 September 2010 SmartTENZ Allotment Notice

The manager of the SmartTENZ advises that as at close of business on 2 September 2010 a total of nil units had been allotted or redeemed since 1 September 2010. The total number of units on issue on that day was 69,261,768.

The asset backing for each SmartTENZ unit at close of business on 2 September 2010 was $0.83002.

As per the Manager's announcement of 1 March 2010 the Funds will be moving to an accrual based model for calculating the Net Tangible Assets (which is the basis for it's unit pricing) from 1st April. The NTA per unit will include not only the value of the underlying securities held in a Fund (which is the basis on which the NTA is currently calculated), but also accrued income in relation to the portfolio (for example, dividends and tax credits) less liabilities (eg, tax expense, management fees).

Unitholders can still invest or surrender Smartshares Units in the form of baskets for holdings in multiples of: - 500,00 units for smartTENZ - 200,000 units for smartFONZ & smartMIDZ - 150,000 units for smartMOZY & smartOZZY

However from 10 April 2010 a basket will include not only the underlying securities in index proportions but also a cash amount representing any accrued income applicable.

Smartshares will publish updated basket compositions daily to the market - for today's basket composition please see below.

smartTENZ Basket Composition

Composition of a basket of securities and cash equivalent to 500,000 NZX 10 Fund units effective from 3 September 2010

The new basket composition applies to applications and withdrawals.

Cash Portion: $10,822.13

Code Description Shares AIA Auckland International Airport Limited Ordinary Shares 23,412 CEN Contact Energy Limited Ordinary Shares 10,808 FBU Fletcher Building Limited Ordinary Shares 10,844 FPH Fisher & Paykel Healthcare Corporation Limited Ord Shares 9,154 IFT Infratil Limited Ordinary Shares 10,838 KIP Kiwi Income Property Trust Ordinary Units 17,383 RYM Ryman Healthcare Limited Ordinary Shares 8,933 SKC Sky City Entertainment Group Limited (NS) Ordinary Shares 10,275 SKT Sky Network Television Limited Ordinary Shares 6,387 TEL Telecom Corporation of New Zealand Limited (NS) Ord Shares 34,316

For further information please contact: Akila Ramanathan Smartshares Limited Ph (04) 495 5058 akila.ramanathan@nzx.com End CA:00199269 For:TNZ Type:NTA Time:2010-09-03:09:40:44

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