BurgerFuel to extend offer and list on NZAX

Press Release

Tuesday 17th July 2007

BurgerFuel Worldwide has announced today that it will achieve the minimum subscription of $8 million and has extended its IPO offer by one week until 5.00pm Monday 23rd July 2007.

Founding Shareholders Chris Mason and Josef Roberts have confirmed that if required they will purchase shares from the public pool, on the same terms as all other applicants, as outlined in the company's prospectus to ensure the minimum subscription is met.

The company has said that as at lunchtime yesterday it had received over 1600 applications and that applications are continuing to come in.

Chairman Peter Brook said that "we are delighted with the response so far" and that "it was very significant for investors to see the Founders personal commitment to ensuring the company is listed. We now want to give investors extra time to apply for shares."

BurgerFuel Worldwide is seeking to raise up to $15 million with a minimum of $8 million required to list. Shares are $1.00 each with 1 option for every 5 shares, attached. There are no oversubscriptions.

On 5 July 2007 BurgerFuel announced its total system sales jumped 41%. It reported that unaudited total system sales for the first quarter to 30 June 2007 were $5,074,935 as against $3,593,238 for the same period last year.

BurgerFuel's Queen St store opened last week and was number one in the system for the week. It's second Tauranga store will open in early August and its Napier store in October. It has also confirmed that it has now received development approval for the second Sydney store in Kings Cross to proceed.

The revised timetable is as follows:
- Offer Closing Date: Monday 23 July 2007 at 5pm
- Anticipated allotment date: Thursday 26 July 2007
- Expected quotation and trading date of shares and options: Friday 27 July 2007

Visit the ShareChat IPO section for more details: http://www.sharechat.co.nz/resources/ipos/

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