Share Price at close of trading yesterday: $0.986

Private Ruling Granted

Date: 12 September 2013

Imputation Credits on Perpetual Preference Shares

The Inland Revenue on 26 August 2013 granted a Private Ruling to Quayside Holdings and the Bay of Plenty Regional Council in regards the Quayside Holdings Limited issue of Perpetual Preference Shares.

The Ruling among other things, permits Quayside Holdings Limited to continue to impute dividends to Perpetual Preference Shares for the period to 16 September 2016.

The Ruling is the third such ruling received by Quayside since the issue of 200,000,783 Perpetual Preference Shares of $1 each in March 2008.