Summerset Group appoints Rob Campbell as Chairman

MEDIA RELEASE

5 September 2011

Summerset Group appoints Rob Campbell as Chairman

Leading retirement village operator Summerset Group Holdings Limited has appointed Rob Campbell as an Independent Director and Chairman of the group’s board.

Mr Campbell has more than 20 years experience in investment management and corporate governance. He was appointed following a nationwide search for an experienced leader who could increase Summerset’s profile as it moves into the next stage of its evolution.

Mr Campbell is chairman of Guinness Peat Group Limited and its NZX listed associate, Turners & Growers Limited.

Amongst his other directorships, are Accident Compensation Corporation, Aquasure Pty Limited, Ports of Auckland Limited and CallPlus Limited. Mr Campbell is also a board or advisory board member of several private equity and hedge funds globally. He has previously directed the investments of a large family office and held board appointments on numerous private sector and public sector organisations in New Zealand.

Commenting on his appointment to Summerset, Mr Campbell says he is joining the company as it increases its presence in the South Island and further expands into the North Island.

“Demographics point to the increasing need for quality provision of senior living facilities and aged care support from the private sector.”

“The number of retired people will double within a few years and Summerset is investing to meet that demand. As a company it is taking a leadership position in terms of quality facilities and the level of security provided for residents ongoing well being.”

“I am looking forward to working with the impressive executive team at Summerset on all aspects of the business and working with regulatory agencies to ensure that there is an appropriate balance between the private and public provision of healthcare services.”

Mr Campbell will be joined on the Summerset board by James Ogden who has accepted appointment as an Independent Director.

Mr Ogden was a director of Summerset when AMP was the controlling shareholder.

Mr Ogden is an Independent Director and Chair of the Audit Committee of The Warehouse Group Limited and Non-Executive Director of Vehicle Testing Group Limited. Previously he has been an Independent Director of New Zealand Post and its subsidiary Kiwibank, an Independent Director of NZX listed Powerco Limited and Capital Properties New Zealand Limited. James is a former Director of Macquarie New Zealand Limited and Credit Suisse First Boston.

About Summerset

Summerset has grown in to one of the country’s top suppliers of quality and affordable retirement living.

Summerset is the third largest operator of retirement villages with 12 across the country.

In 2010 it was named best retirement village operator in both New Zealand and Australia beating over 1,100 at the Australasian Over-50s Housing Awards.

The group offers a range of lifestyle options and aged-care facilities and services to more than 1,700 residents with a staff of over 450.

Summerset is the third largest operator and second largest developer in the industry, owning and operating 12 retirement villages.

It operates villages in Aotea, Hastings, Havelock North, Levin, Manukau, Napier, Palmerston North, Paraparaumu, Taupo, Trentham, Wanganui, and Warkworth.

The company is also currently developing three existing sites, has two new villages in Dunedin and Hamilton in stages of development, and is in the process of purchasing an existing village in Nelson.

ENDS

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