Tenon Deregisters From Commission

Tenon Deregisters From Securities And Exchange Commission

Auckland, 9 June, 2005 –

Tenon advised today that, consistent with its previously announced strategy to cancel the American Depositary Receipt programme and de-list its shares from the New York Stock Exchange, it has now also deregistered from the Securities and Exchange Commission in the United States. This means that the company will no longer be required to file reports with the SEC.

There were now only a very small number of United States’ shareholders, which did not justify the cost of continued SEC registration.

ENDS

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