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Takeover For Ports Of Auckland Limited

16 June 2005

Auckland Regional Holdings Has Relevant Interest Of 86% In Takeover For Ports Of Auckland Limited

Auckland Regional Holdings (ARH) today announced that, as at Thursday 16 June 2005, ARH had received acceptances from over 2,200 Ports of Auckland Limited (POAL) shareholders totalling 6,371,032 shares, giving ARH a relevant interest in POAL of 86%.

ARH only requires acceptances of another 4% of POAL shares before it can initiate compulsory acquisition and move to full ownership of POAL.

ARH is confident that it will achieve 100% ownership of POAL.

ENDS

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