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ROCOM Wireless New Capital Market IPO Closes

ROCOM Wireless New Capital Market IPO Closes Oversubscribed

D F Mainland Securities, the Organising Broker for the public offering of shares in the New Capital Market issue for ROCOM Wireless Limited, announced today the issue had closed oversubscribed.

The Company received nearly 500 applications resulting in substantial over-subscriptions. All applications received on time have been allocated at least the minimum 1,000 shares ($500).

As indicated in the prospectus, ROCOM Wireless proposes a Subsequent Public Offering (SPO) to raise approximately $2,000,000 to acquire ROCOM Limited. Shareholders will receive a notice of meeting with relevant information in respect of this proposal. Shareholders of ROCOM Wireless will receive preferential allocations of shares in this subsequent capital raising.

ROCOM Wireless Limited intends to list on the New Capital Market of the NZSE on 17 August 2000. The code for ROCOM Wireless Limited will be ROC.

-- Ends –

For further information please contact:

John Paine or Rochelle Hooper Richard Guy or Steve Borich
D F Mainland Securities Rocom Wireless Limited
Auckland Auckland
Phone (09) 307 9066 Phone (09) 307 3337

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