SSH: TWR: SSH (Orbis Investment Management (Australia) Pty Ltd)

16 Aug 2010 10:56 am

TWR 16/08/2010 SSH

REL: 1056 HRS Tower Limited

SSH: TWR: SSH (Orbis Investment Management (Australia) Pty Ltd)

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: 11 Aug 2010 To: New Zealand Stock Exchange, Australian Securities Exchange And: Tower Limited Date this disclosure made: 13 Aug 2010 Date last disclosure made: 2 Oct 2009 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: 17,233,684 (b) total in class: 258,719,484 (c) total percentage held in class: 6.66% For last disclosure,-- (a) total number held in class: 19,603,944 (b) total in class: 255,366,306 (c) total percentage held in class: 7.68% 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 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: 17,233,684 (b) percentage held in class: 6.66% (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.

Tower Limited

THIS IS ANNEXURE A OF 1 PAGE REFERRED TO IN THE ABOVE FORM Table 1 - Related bodies corporate The following entities are associates of Orbis Australia and each other by virtue of being related bodies corporate. Orbis Holdings Limited Orbis World Limited Orbis Investment Management Limited (OIML) Orbis Asset Management Limited (OAML) Orbis Administration Limited Orbis Investment Research Limited Orbis Investment Management (MIS) Limited Triple Blue Holdings Limited Orbis Investment Advisory (Hong Kong) Limited Orbis Investment Management (BVI) Limited (OBIVL) Orbis Investment Advisory Pty Limited Orbis Holdings (Australia) Pty Limited Orbis Investment Management (Australia) Pty Limited Orbis Client Services (Canada) Limited Orbis Holdings (UK) Limited Orbis Investment Management (Europe) LLP Pictet Overseas Trust Corporation and Pictet Trustee Company SA Orbis Mansfield Street Properties Ltd Table 2 - Funds An entity within the Orbis Group acts as investment manager for some or all of the assets in the following funds. No Fund name Investment Manager Reference Code Registered Holder Persons entitled to be registered holder 1 Orbis MIS - Orbis/SM Australia Equity Fund Orbis Australia SMEF State Street Australia Limited (SSAL) as nominee of SMEF SSAL as nominee of SMEF 2 Warakirri Endeavour Fund Orbis Australia SMWK ANZ Nominees Ltd as nominee of SMWK ANZ Nominees Ltd as nominee of SMWK 3 Orbis MIS - Orbis Global Equity Fund OIML GAPL SSAL as nominee of GAPL SSAL as nominee of GAPL 4 Orbis Global Equity Fund Limited OIML OGEF Citigroup PTY Ltd as nominee of OGEF Citigroup PTY Ltd as nominee of OGEF 5 Orbis Optimal SA Fund Limited OIML OSAP Citigroup PTY Ltd as nominee of OSAP Citigroup PTY Ltd as nominee of OSAP 6 Orbis SICAV -Global Equity Fund OIML SGPL Citigroup PTY Ltd as nominee of SGPL Citigroup PTY Ltd as nominee of SGPL 7 Orbis Optimal Global Fund LP OAML OOLP Citigroup PTY Ltd as nominee of OOLP Citigroup PTY Ltd as nominee of OOLP 8 GA Fund -L Equity Deep Value World TP OIML FWEF ANZ Nominees Ltd as nominee of FWEF ANZ Nominees Ltd as nominee of FWEF 9 Orbis Asia ex-Japan Fund OBVIL XJPL Citigroup PTY Ltd as nominee of XJPL Citigroup PTY Ltd as nominee of XJPL 10 Intech Australian Shares High Alpha Trust Orbis Australia SMIA JP Morgan Nominees Australia Ltd as nominee of SMIA JP Morgan Nominees Australia Ltd as nominee of SMIA 11 Construction and Building Unions Superannuation Fund Orbis Australia SMCB National Nominees (NAB Custodian Services) as nominee for SMCB National Nominees Ltd (NAB Custodian Services) as nominee for SMCB 12 HESTA Superannuation Fund Orbis Australia SMHT JP Morgan Nominees Australia Ltd as nominee of SMHT JP Morgan Nominees Australia Ltd as nominee of SMHT 13 Hostplus Superannuation Fund Orbis Australia SMHP JP Morgan as nominee of SMAU JP Morgan Nominees Australia Ltd as nominee of SMAU 14 Russell Australian Opportunities Fund Orbis Australia SMRI SSAL as nominee of SMRI SSAL as nominee of SMRI 15 Orbis International Equity LP OAML IELP Citigroup PTY Ltd as nominee of IELP Citigroup PTY Ltd as nominee of IELP 16 Catholic Superannuation Fund Orbis Australia SMCS NAB Custodian Services NAB Custodian Services 17 Orbis US Equity Fund LP OAML USLP Citigroup Pty Ltd as nominee of IELP Citigroup Pty Ltd as nominee of IELP 18 Qantas Superannuation Plan Orbis Australia SMQS JP Morgan Nominees Australia Ltd as nominee of SMQS JP Morgan Nominees Australia Ltd as nominee of SMQS 19 Maritime Super Orbis Australia SMMS NAB Custodian Services NAB Custodian Services

THIS IS ANNEXURE B OF 1 PAGE REFERRED TO IN THE ABOVE FORM

Change in relevant interest Trade date Reference code Action Number of security Consideration

13 Jan to 7 July 10 SMCB Buy and sell -1440566 -$2170670 2 Feb to 22 July 10 SMCS Buy and sell -150451 -$220891 13 Oct 09 to 11 Aug 10 SMEF Buy and sell -400430 -$479884 26 Oct 09 to 2 July 10 SMHP Buy 78463 $121050 2 Feb to 8 July 10 SMHT Buy and sell 144232 $231980 2 Feb to 7 July 10 SMIA Buy and sell -289895 -$427756 13 Oct 09 to 11 Aug 10 SMRI Buy and sell -313834 -$463803 2 Feb to 2 July 10 SMWK Buy 2221 $3470 -2370260 -$3406503

Present relevant interest Reference code Total no of security SMCB 2619014 SMCS 1582192 SMEF 7443949 SMHP 1074649 SMHT 3016580 SMIA 752961 SMRI 710457 SMWK 33882 17233684 End CA:00198396 For:TWR Type:SSH Time:2010-08-16:10:56:59

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