GENERAL: WFD: UPDATE ON NORFOLK INVESTMENTS LIMITED

4 Jun 2010 8:30 am

WFD 04/06/2010 GENERAL

REL: 0830 HRS Wakefield Health Limited

GENERAL: WFD: UPDATE ON NORFOLK INVESTMENTS LIMITED

3 June 2010

UPDATE ON NORFOLK INVESTMENTS LIMITED

Wakefield Health Limited (NZSX: WFD) advises that it has today given a revised notice under the Takeovers Code of its intention to make a full cash takeover offer for all of the shares in Norfolk Investments Limited. This follows a period of engagement with Norfolk shareholders and directors, which has confirmed that there remains strong support for Wakefield involvement in that company.

The revised offer price is $3.60 per share, valuing Norfolk at close to $23 million. Norfolk shareholders will also receive a fully imputed net cash dividend of 10.73 cents per share, resulting in a total value to Norfolk shareholders of close to $3.71 in cash per share.

The proposed offer will be subject to a number of conditions, including standard ordinary course of business protections.

Wakefield continues to hold binding offer acceptance commitments in respect of more than 50% of the Norfolk shares. However, the offer itself remains subject to Norfolk shareholder approval. Wakefield has requested that the Norfolk Board call and hold a further meeting of shareholders to seek this approval.

The Norfolk group holds a 60 percent interest in the Grace Hospital in Tauranga, with the balance of 40 percent held indirectly by Southern Cross Hospitals Limited.

For further information, please contact:

Andrew Blair, CEO Wakefield Health Limited Mobile: 021 477 635 End CA:00195754 For:WFD Type:GENERAL Time:2010-06-04:08:30:28

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