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Mighty River Power Appoints GM of Business Strategy

MARKET ANNOUNCEMENT
5 December 2012
Mighty River Power Appoints General Manager of Business Strategy And Solutions

Mighty River Power has appointed Matthew Olde to the position of General Manager of Business Strategy and Solutions, a new position on the Executive Management Team.

Chief Executive, Doug Heffernan, said that this new role will initially have responsibility for the Communications and Legal functions, and then in 2013 the role will expand to include a newly created Business Strategy function and Group Information Services.

"We are delighted to appoint Matthew to this position. His experience means he is well equipped to contribute to the executive team and to help drive performance improvement in Mighty River Power as the business continues to evolve.”

Mr Olde joined Mighty River Power in 2010 and most recently has been the IPO Project Manager, overseeing the Company’s preparations for a potential listing. Mr Olde’s previous experience includes over a decade in the investment banking industry in Auckland, Sydney and London. His appointment to this role is effective immediately and he will continue as the IPO project manager until completion of the project.

Bruce Waters, who held the position of Acting General Manager Corporate Affairs, will continue to focus on Maori and Government relationships and on positioning the company through the changes taking place in national water policy development.
ENDS
About Mighty River Power
Mighty River Power is one of New Zealand’s largest electricity companies – with its core business based on reliable, low fuel-cost electricity generation complemented by sales to businesses and homes, which account for about 18% of New Zealand’s total electricity consumption.
The Company operates nine hydro power stations, four geothermal plants and a multi-unit gas-fired station. More than 90% of its electricity production is from renewable sources. Mighty River Power sells electricity through multiple channels and retail brands, including Mercury Energy, GLO-BUG, Bosco Connect and Tiny Mighty Power. Mighty River Power also has investments in international geothermal projects.

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