RELINT: TWR: Exercise of Options

15 Jan 2010 11:56 am

TWR 15/01/2010 RELINT

REL: 1156 HRS Tower Limited

RELINT: TWR: Exercise of Options

EXERCISE OF OPTIONS UNDER EXECUTIVE OPTION PLAN

TOWER advises that 30,000 unlisted options to purchase one fully paid ordinary share in TOWER have been exercised. The exercise was satisfied by the transfer of existing shares held by the trustee.

Following this exercise, 6,525,608 unlisted options remain on issue.

A disclosure notice, and an Appendix 3Y notice, in relation to the change in the number of options and shares held by the trustee of the TOWER Limited Executive Option Plan is attached.

Bronwyn Walsh Company Secretary TOWER Limited

DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests (Section 19T, Securities Markets Act 1988) A. Disclosure obligation (tick box to note which disclosure obligation applies) Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) B. Preliminary 1. Name Robin Albert Flannagan/ Eric John O'Sullivan 2. NZX company code of issuer TWR Name of issuer TOWER Limited 3. Name of related body corporate (if applicable) N/A 4. Position you hold in the issuer Group Managing Director / Group Chief Financial Officer 5. Date of this disclosure notice 15-Jan-10 C. Nature of relevant interest 6. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b)) TOWER Option Scheme Limited 7. Class and type of security (as required by regulation 6B or regulation 8) Ordinary shares & options to acquire ordinary shares 8. Nature of relevant interest in security (as required by regulation 6A (a)

or regulation 7(a)) Non beneficial as directors of the registered holder, TOWER Option Scheme Limited, which is the trustee of the TOWER Executive Share Option Plan D. Date (for initial disclosure) 9. Date of disclosure obligation (as required by regulation 6C) - E. Transaction (for ongoing disclosure) 10. Date of last disclosure (as required by regulation 13) 22-Dec-09 11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 15-Jan-10 12. Number of transactions (as required by regulation 12(2), if applicable) 1 13. Nature or type of transaction (as required by regulation 11(1)(a)) Exercise of option 14. Consideration (as required by regulation 10) $1.31 per option 15. Number of securities held prior, set out by class and type (as required by regulation 8) 6,555,608 options and 50,276 shares 16. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b)) 30,000 options & 30,000 shares F. Extent of relevant interest 17. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8) 6,525,608 options and 20,276 shares Signature (as required by regulation 14) Bronwyn Walsh Company Secretary End CA:00190211 For:TWR Type:RELINT Time:2010-01-15:11:56:59

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