SSH: TWR: SSH - (Orbis Group)

16 Aug 2010 8:51 am

TWR 16/08/2010 SSH

REL: 0851 HRS Tower Limited

SSH: TWR: SSH - (Orbis Group)

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: Decrease by more than 1% in holding Date of relevant event: 24 April 2009 To: New Zealand Stock Exchange, Australian Securities Exchange And: Tower Limited Date this disclosure made: 28 April 2009 Date last disclosure made: 4 August 2008 (note last disclosure was made on the ASX using a Form 603 (Notice of Initial Substantial Holder))

Substantial security holder(s) giving disclosure

Name(s): Orbis Investment Management (Australia) Pty Ltd (Orbis Australia) and its related bodies corporate as set out in Table 1 of Annexure A (together Orbis Group), as investment manager for the funds or investment mandates listed at Table 2 of Annexure A Contact details: Eugene Tan, +612 8224 8627, e.tan@orbisfunds.com.au

Summary of substantial holding to which disclosure relates

Class of listed voting securities: ordinary share Summary for: Orbis Group For this disclosure,-- (a) total number held in class: 12,275,117 (b) total in class: 194,047,906 (c) total percentage held in class: 6.33% For last disclosure,-- (a) total number held in class: 9,646,845 (b) total in class: 192,168,227 (c) total percentage held in class: 5.02%

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: See Annexure B - Trades on market and termination of association

Details of relevant interests in substantial holding after relevant event

Details for: Orbis Group Nature of relevant interest(s): As investment manager for the funds or investment mandates listed at Table 2 of Annexure A that hold Tower Limited ordinary shares as set out in Annexure B For that relevant interest,-- (a) number held in class: 12,275,117 (b) percentage held in class: 6.33% (c) current registered holder(s) of securities: See Annexure B (d) registered holder(s) of securities once transfers registered: See Annexure B

Additional information

Nature of connection between substantial security holders: As investment manager for the funds or investment mandates listed at Table 2 of Annexure A that hold Tower Limited ordinary shares as set out in Annexure B Address(es) of substantial security holder(s): C/- Orbis Australia, Level 2 Challis House, 4 Martin Place Sydney , NSW 2000 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: N/A

Declaration I, Simon Marais, Director, Orbis Australia, 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:00198382 For:TWR Type:SSH Time:2010-08-16:08:51:43

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