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Waipara Hills Offer Passes $1,000,000

NEWS RELEASE 21 January 2004

Waipara Hills Offer Passes $1,000,000

The uptake of convertible preference shares in Waipara Hills Wine Estate Limited¹s public issue has exceeded $1,000,000, the company reported today.

Waipara Hills¹ Chair, Mr Syd Bradley, said the response this month from public investors to the issue was very encouraging.

"These shares have an annual gross dividend rate of 9.75% and enable investors to participate in the growth of a debt-free, quality wine producer and exporter," he said.

Since its inception in 2001, the company has won numerous awards and gained national and international recognition as a supplier of top quality New Zealand wines.

Under its Prospectus and Investment Statement of 17 November 2003, investors are being offered 1,300,000 convertible preference shares.

The issue closes on Friday 30 January and copies of the Prospectus and Investment Statement are available either from Waipara Hills or from any NZX Firm.

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