Tower appoints new director

Thursday 18th December 2003

Tower has appointed Bill Falconer as a board director.

Falconer is a Cambridge, New Zealand based company director. He has had successful careers as a public servant; in business as a chief executive; and as a lawyer and company chairman and director.

He is currently the chairman of five companies, including Hellaby Holdings, Kiwifruit International Ltd and Restaurant Brands New Zealand Limited, and a director of two.

Falconer currently serves as the chairman of the Meat Industry Association and also of the Market Surveillance Panel of the New Zealand Stock Exchange. His previous appointments include chairman of Maui Development Ltd, Natural Gas Corporation Ltd, St Lukes Group Ltd and the Accident Compensation Corporation.

"We are delighted that William Falconer has joined the Board of Tower. His commercial expertise and experience will be a valued addition to the strength of our board. I made the commitment to shareholders at the 2003 annual meeting that the Tower Board would be restructured and revitalised, and the appointment of William Falconer completes this process," Tower chairman Olaf O�Duill says.

Alan Eyes, who was elected to the Tower Board in 1999 will retire on December 31. Falconer�s appointment is effective from that time and he will be subject to re-election at the 2004 annual meeting. He will also be appointed to the board of Tower Finance Limited.

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