GENERAL: XRO: Xero capital raising totals $29m

22 May 2009 8:31 am

XRO 22/05/2009 GENERAL

REL: 0831 HRS Xero Limited

GENERAL: XRO: Xero capital raising totals $29m

22 May 2009 Further capital investment in listed online accounting software provider Xero Limited, has totalled NZ$29 million. Xero acquired the sum through a Strategic Placement, which raised $23.2 million, and a Share Purchase Plan (SPP) for existing shareholders. The Share Purchase Plan closed at $5.8 million on Monday. It had a strong uptake by shareholders, with 70% opting to buy up to $5,000 worth of shares at a purchase price of $0.90 cents. Craig Winkler, co-founder and former CEO of MYOB, was a major investor in the Strategic Placement and has now joined the Xero Board from 21 May 2009. The Board has determined that he is not an Independent Director.

For more information contact: Lucy Hempseed Communications Advisor Lucy.hempseed@xero.com +64 4 819 4837 +64 27 423 8959 End CA:00180121 For:XRO Type:GENERAL Time:2009-05-22:08:31:30

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