Crescent Capital Partners Response To Masthead

Crescent Capital Partners Response To Masthead Portfolio’s Sale Of Abano Healthcare Shareholding

Auckland, NZ (January 17, 2008): _Following the news that Masthead Portfolios Limited has sold its shareholding of 19.9 percent to Healthcare Industries Limited, Michael Alscher, Executive Director of Crescent Capital Partners, said:

“We are disappointed that Masthead has chosen to sell their Abano shareholding to Healthcare Industries Limited rather than into our offer. However, we recognise that Masthead were looking to exit their stake immediately and under the rules of the Takeovers Code, we were unable to purchase their shares outright due to being limited to acquiring no more than 19.9 percent of Abano off-market while we have an offer open.

“We will now reassess our options in relation to this acquisition."

Crescent Capital Partners is an Australian based private equity fund which owns and operates one of Australasia’s leading medical device distributors and healthcare service providers, Lifehealthcare.

ENDS

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