eVentures good beginning on the NZSE

Media release

9 May 2000

For immediate release

eVentures good beginning on the NZSE

Craig Heatley, Chairman of eVentures New Zealand Limited, said this afternoon that the first day of trading activity in eVentures shares on the NZSE was a "good beginning".

"eVentures is focused on creating long-term shareholder value. We think today's activity confirms that there are many investors who have an interest in the performance of a dynamic internet company.

"We're pleased with the response of investors and we're looking forward to getting on with the task of introducing the best of breed internet businesses to the New Zealand market," said Mr Heatley.

eVentures shares (EVZ) began trading at 0.65cents and closed at 0.66cents. The closing price represents a 10% premium on 0.60 issue price.

Trading volumes were heavy, totalling over 5.3 million shares (over $3.4 million) with more than 300 trades.

Heavy demand for shares from investors meant that eVentures' initial public offering was significantly oversubscribed, closing three days early on 1 May.

ENDS

For further information contact: Craig Heatley Chairman eVentures New Zealand Limited 09-358-4103

Clark Perkins, Chief Executive JB Were & Son (NZ) Limited 09-357-3200

Communications Contact: Rachel Catanach 04-499-9111, 025 322 784 rachel@svl.co.nz

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