eVentures New Zealand share offer to close early

For immediate release

28 April 2000 4.30pm

eVentures New Zealand share offer to close early

Craig Heatley, Chairman of eVentures New Zealand Ltd, today announced that the offer of shares in eVentures New Zealand would close three days early at 4.00pm Monday 1 May.

The share offer has generated strong demand from New Zealand institutional and retail investors. The objective of the float is to raise NZ$30 million, and will be closed significantly oversubscribed.

Applicants who have received a firm allocation from members of the New Zealand Stock Exchange will be unaffected by the early closing of the offer.

"We are naturally delighted with the response," said Mr Heatley.

"Many people have asked us during the offer period "is this a good time to be floating?"

"My response has been that we are still at the very start of the Internet revolution, not the end of it. Clearly New Zealand investors have shared this view."

eVentures New Zealand is an internet accelerator company with the primary goal of establishing top international e-commerce brands in New Zealand by providing investment capital, strategic resources and management services. It will also provide investment and incubation services for both new and established internet businesses in New Zealand.

ENDS

For further information contact: Craig Heatley, Chairman 09-358-4103

Clark Perkins JB Were & Son 09-357-3200

Communications Contact:
Rachel Catanach 04-499-9111, 025 322784 rachel@svl.co.nz

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