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Dorchester Pacific appoints new CEO

May 9, 2006

Dorchester Pacific appoints new CEO

Dorchester Pacific has appointed Andrew Walker as Chief Executive Officer.

His appointment follows an extensive national and international recruitment process.

“Andrew brings finance sector experience and a successful track record in business both in New Zealand and the United States,” Dorchester Pacific Chairman Barry Graham says.

Mr Graham says Chief Financial Officer and Company Secretary Mark Simpson, who is currently acting Chief Executive Officer, has done an excellent job and worked closely with the Board on operational efficiencies and business development over the past three months.

“This solid platform gives Andrew a great base to take the company on to the next stage as we continue to create value for our shareholders,” he said.

After completing an M.A. (Hons) at Auckland University, Andrew was accepted onto the Fletcher Challenge graduate programme before moving to Sony, where he held business development and management roles.

He gained an MBA from Stanford Graduate School of Business in the United States, where he focused on corporate finance and investing. While studying in the US, Mr Walker worked with business strategy consulting firm Booz Allen Hamilton and private equity firm Fremont Group.

Mr Walker returned to New Zealand in 2003 and joined Clavell Capital, an Auckland-based merchant bank.

“I am delighted to join Dorchester Pacific. It is a company of significant stature and great potential. It has a loyal and dedicated investor base, a great team of people and an excellent track record,” Andrew Walker says.

“Dorchester Pacific is a traditional financial services company with a solid base and proven returns. I look forward to being part of the ongoing success of the company and continuing to create growth opportunities”

Mr Walker takes up the position on May 30.

ENDS

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