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Fisher Funds not to accept Takeover Offer

7 September 2006

Fisher Funds not to accept Takeover Offer

Over the past few weeks we have received a significant number of enquiries from various parties asking after our intentions regarding the Kidicorp takeover. We are now in a position to comment having completed analysis of the Independent Advisors report prepared by Ferrier Hodgson.

Fisher Funds advises it does not currently intend to accept the Mitchell Investment Trust takeover offer for Kidicorp Ltd.


Fisher Funds has an interest in 33.5m shares in Kidicorp representing 18.95% of the company’s issued capital. Listed investment company, Kingfish Ltd, whose investments are managed by Fisher Funds, holds 6.9m shares of Kidicorp which currently represents 1.3% of Kingfish’s assets. The remainder of Fisher Funds
holding is spread across a number of its investment accounts.

Background

Fisher Funds is a privately-owned boutique investment manager specializing in NZ and Australian shares. It currently manages more than $600 million for over 8,000 investors including the Guardians of New Zealand

Superannuation and listed investment company Kingfish. Fisher Funds is the 2004 and 2005 Morningstar Fund

Manager of the Year (NZ Equities).

ENDS

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