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200,000 Kiwis pre-register for Mighty River Power

Hon Tony Ryall

Minister for State Owned Enterprises


7 March 2013 Media Statement
200,000 Kiwis pre-register for Mighty River Power

200,000 New Zealanders have pre-registered their interest in buying shares in the Government’s minority share offer of the energy company Mighty River Power.

State Owned Enterprises Minister Tony Ryall says the 200,000 mark for pre-registrations was reached at 3.30 this afternoon – less than three days after the preregistration website went live.

“The great majority - 89 per cent - pre-registered online, the rest were divided equally between the Call Centre, and Smartphones,” Mr Ryall says.

“We are offering New Zealanders a share in up to 49 per cent of Mighty River Power as part of the National Government’s wider economic plan to control debt and keep investing in our economy.

“Many countries are facing an intensifying debt crisis and the Government’s minority share offers programme will reduce the need to go further into debt to volatile overseas markets.”

The website: www.mightyrivershares.govt.nz, provides information to New Zealanders keen to register their interest in the share offer.

“There is plenty of time before pre-registration ends on 22 March – and there is no advantage in pre-registering earlier.”

New Zealanders who pre-register will receive an offer document as soon as it’s ready, and may be allocated up to 25% more shares than people who do not pre-register, if demand for shares exceeds shares available.

New Zealanders wanting information on pre-registration should visit: www.mightyrivershares.govt.nz or call 0800 90 30 90.

New Zealanders wanting more information can visit the website: www.governmentshareoffers.govt.nz

ENDS

Important notice

The Crown is considering offering shares to the public in Mighty River Power Limited (“Mighty River Power”). No money is currently being sought and no applications for shares will be accepted or money received until after an investment statement containing information about the offer of shares is available (the "Share Offer Document"). The Crown is seeking preliminary indications of interest. Registering an indication of interest will not involve an obligation of any kind. If you pre-register, you will be able to choose to either receive the Share Offer Document in hard copy or be sent an email notifying you that it is available online (or both). A full description of the potential allocation preference for New Zealanders who pre-register is available at www.mightyrivershares.govt.nz.

The contents of this press release are not permitted to be made available to persons in any country other than New Zealand. Mighty River Power's shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "United States Securities Act") or the securities laws of any state of the United States and may not be offered or sold in the United States unless the shares are registered under the United States Securities Act, or an exemption from the registration requirements of the United States Securities Act and applicable United States state securities laws is available.

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