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Dividend Strike Price

7 September 2004

MEDIA RELEASE

Dividend Strike Price

Capital Properties New Zealand Ltd advises that the strike price pursuant to its Dividend Reinvestment Plan is 95.66 cents in respect of the quarterly dividend payable on 17 September 2004.

The Strike price is based on the weighted average price in the 5 days preceding the record date of 3 September 2004, adjusted for the amount of the current dividend.

ENDS


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