ALLOT: TWR: Exercise of Options under Executive Share Plan

25 Feb 2010 9:12 am

TWR 25/02/2010 ALLOT

REL: 0912 HRS Tower Limited

ALLOT: TWR: Exercise of Options under Executive Share Plan

Notice of allotment of shares

In accordance with NZSX Listing Rule 7.12.1, TOWER advises it has allotted 30,000 shares following the exercise of 30,000 options under the TOWER Limited Executive Option Plan. The details are:

a. Class of security issued: ordinary shares. ISIN NZTWRE0001S3 b. Number Issued: 30,000 c. Issue price: $1.92 (being the average weighted sale price of an ordinary share in TOWER on the NZX over the five trading days immediately preceding the date of exercise of the options) d. Payment Terms: Cash e. Amount paid up: $1.92 per share f. Percentage of total Class: 0.01% g. Reason for issue: Exercise of options. h. Authority for the issue: resolution of TOWER's Board. i. Terms of issue: Not applicable j. Number of securities in existence after issue: 258,423,876 ordinary shares and 6,495,608 unlisted options. k. Not applicable. l. Date of issue: 25 February 2010.

In accordance with ASX Listing Rule 3.10.5, an Appendix 3B announcement is attached.

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 also attached.

Bronwyn Walsh Company Secretary & Compliance Manager TOWER Limited End CA:00191656 For:TWR Type:ALLOT Time:2010-02-25:09:12:42

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