SSH: TUA: SSH Notice (White River Partners, L.P.)

23 Jul 2010 8:30 am

TUA 23/07/2010 SSH

REL: 0830 HRS Turners Auctions Limited

SSH: TUA: SSH Notice (White River Partners, L.P.)

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 number of voting securities Date of relevant event: 21 July 2010 To: NZX And: Turners Auction Limited Date this disclosure made: 21 July 2010 Date last disclosure made: 23 August 2006

Substantial security holder(s) giving disclosure Name(s): White River Partners, L.P. Contact details: Merri Chu, Telephone: 415-440-1659, Email: admin@wrpartners.com

Summary of substantial holding to which disclosure relates Class of listed voting securities: Ordinary Shares Summary for: White River Partners, L.P.

For this disclosure,-- (a) total number held in class: 2,507,005 (b) total in class: 27,375,271 (c) total percentage held in class: 9.16%

For last disclosure,-- (a) total number held in class: 3,327,999 (b) total in class: 27,375,271 (c) total percentage held in class: 12.16%

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: Sale occurred on the New Zealand Exchange to RBS Morgans Details of relevant interests in substantial holding after relevant event Details for: [name of substantial security holder(s)] Nature of relevant interest(s): [eg, registered holder and beneficial owner of securities, conditional put option with X Ltd. State whether a relevant agreement document is attached (with the number of pages) or was attached to a previous disclosure (with date of that disclosure) or need not be attached under regulation 11 or 14.] For that relevant interest,-- (a) number held in class: [number] (b) percentage held in class: [%] (c) current registered holder(s) of securities: [name(s) or state "unknown" or that no change since last disclosure] (d) registered holder(s) of securities once transfers registered: [name(s) or state "unknown"] Additional information Nature of connection between substantial security holders: [names and nature of connection] Address(es) of substantial security holder(s): [address(es)] 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: [name]

Declaration I, Merri Chu, 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:00197539 For:TUA Type:SSH Time:2010-07-23:08:30:21

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