1 July 2005

Auckland Regional Owns 88.85% Of Ports Of Auckland Limited

Auckland Regional Holdings (ARH) announced that as at 4:00pm today it received acceptances totalling 9,377,190 shares giving ARH a relevant interest in Ports of Auckland (POAL) of 88.85%.

ARH only requires acceptances of another 1.15% of POAL shares before it can initiate compulsory acquisition and move to full ownership of POAL.

ARH is confident that it will achieve 100% ownership of POAL.

ENDS