Windflow offer closing Friday

Tuesday, 7 August 2001, 6:00 pm
Press Release: Windflow Technology

Media Release: 7 August 2001

The Windflow Technology share offer will close this Friday, August 10. The Christchurch-based company plans to raise a minimum of $2m to establish local wind turbine manufacturing.

"Interest in the share offering has been higher than ever before", said Geoff Henderson, Chief Executive, Windflow Technology Ltd. "We have had enquiries from all over the country in response to our national advertising. The offering has only been open for a few weeks but in that time we have distributed nearly 900 investment statements. With this level of interest we are confident of reaching our minimum subscription of $2.025 million by Friday, and hope to reach our maximum target of $3 million."

"Interest has been heightened by the current furore over electricity price hikes that highlight the need for alternatives such as wind power." said Mr Henderson, "but local manufacturing and the climate-friendly technology are other important factors."

There are three news stories which have been dominating the New Zealand media for the last few weeks: a) power price hikes and shortages b) the "knowledge wave" economy - creating value-added local industries c) climate change and the need to reduce CO2 emissions.

Windflow Technology may be unique in New Zealand and Australia in addressing all of these issues at once. Is it an idea whose time has come? The Windflow directors and several hundred investors think so.

Windflow Technology Ltd's Investment Statement is available from http://www.windflow.co.nz/shareoffering.

- ends -

Further information: www.windflow.co.nz

Contact: Tim Armitage, Armitage Consultancy Tel: 03 351 8090, e-mail: tim@armi.co.nz

Geoff Henderson, BE (Hons), MIPENZ, PE (Calif.) Director, Windflow Technology Ltd P.O. Box 36 538, Christchurch http://www.windflow.co.nz

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