INTEREST: WHS: STRONG INTEREST IN THE WAREHOUSE GROUP BONDS

23 Mar 2010 9:38 am

WHS 23/03/2010 INTEREST

REL: 0938 HRS The Warehouse Group Limited

INTEREST: WHS: STRONG INTEREST IN THE WAREHOUSE GROUP BONDS

23 March 2010

THE WAREHOUSE GROUP LIMITED

STRONG INTEREST IN THE WAREHOUSE GROUP BONDS

The Warehouse Group Limited has today announced that the bookbuild for their inaugural bond offer has been successful, with bids received being over twice the $100m million issue size, and confirmed that the whole offer amount of $100 million will be reserved for clients of participants in the bookbuild process. There will be no public pool.

The Warehouse Group has set the minimum interest rate and the margin for the bonds. The minimum interest rate is 7.30% per annum and the margin is 2.15%.

The offer opens on 24 March and closes on 23 April. Interest on the bonds will accrue at the final interest rate from the time an investor's application money is banked. Investors are therefore encouraged to lodge their applications as soon as possible to take advantage of this. The final interest rate will be announced on 28 April.

The bonds are unsecured, fixed rate bonds that mature on 15 June 2015, with interest paid semi-annually. The issue price is $1.00 per bond with a minimum application amount of $5,000, thereafter in multiples of $1,000.

To obtain a simplified disclosure prospectus, investors should contact their normal sharebroker or financial adviser. The simplified disclosure prospectus is also available on The Warehouse Group's website at www.thewarehouse.co.nz/bonds

Application has been made to NZX for permission to list the bonds and all the requirements of NZX relating thereto that can be complied with on or before the date of this media release have been duly complied with. However, NZX accepts no responsibility for any statement in this media release. NZX is a registered exchange (as defined in section 2(1) of the Securities Markets Act 1988).

ENDS For more information contact: Luke Bunt Chief Financial Officer The Warehouse Group Limited Phone: 09 488 3243 End CA:00192807 For:WHS Type:INTEREST Time:2010-03-23:09:38:29

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