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New Chair for Portacon Group (Versatile Buildings)

For immediate release

12 September 2006

New Chairman for Portacon Group (Formerly Versatile Buildings)

The Portacon Group (previously Versatile Buildings Ltd) has appointed Steve Smith of Auckland as its new Chairman.

The Portacon Group owns the Versatile, Totalspan and Spanbilt brands in New Zealand and Australia.

Smith has more than 25 years business experience, including 20 years in investment banking and financial advisory roles. In 2003 he retired as a partner of accounting firm PricewaterhouseCoopers.

He is Managing Director of his own company, Unison Capital Advisors Ltd, and is a professional company director.

Directorships he currently holds include: Fulton Hogan; OCG Consulting Group; Trebol Investments; and Life Pharmacy. Smith also chairs the audit committees of Fulton Hogan, OCG and Trebol.

He was acting chief executive of Pacific Retail Group, from March 2004 until August 2005, during its restructuring phase.


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