Response to Shareholder Association’s Letter

MFS LIVING AND LEISURE GROUP
COMPRISING:

MFS Living and Leisure Trust
ARSN 092 701 589
(Responsible Entity: MFS L & L Management Limited
ABN 60 101 634 315, AFSL 280985) and

MFS Living and Leisure Limited
ABN 92 107 863 445

MEDIA ANNOUNCEMENT

MFS Living and Leisure Group (Mpy) Response to Shareholder Association’s Letter

MFS Living and Leisure Group (ASX/NZX: MPY) says it is disappointed at the actions of the New Zealand Shareholders’ Association in writing directly to Tourism Holdings’ shareholders.

MPY chief executive, Marshall Vann, said he agreed with the letter written by Tourism Holdings chairman Keith Smith today.

“Break-fee arrangements are common practice in Australia, the United Kingdom and the United States – and the Shareholders Association should know that.

“These arrangements have been previously used in New Zealand. What MFS Living and Leisure entered into is well within the bounds of normal business practice and well within the rules.

“We stress to Tourism Holdings shareholders that the Shareholders Association is not questioning the merits of the offer. If the Shareholders Association thinks there is an issue, then it is a regulatory one – not one for shareholders.”

ENDS

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