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Meridian considering Renewable Energy Bond issue

Media release
December 22, 2009

Meridian considering Renewable Energy Bond issue

Meridian Energy Limited has today announced that it is considering making an offer of Renewable Energy Bonds (REBs) to the public.

The REBs will be senior retail bonds, and the intended offer size is NZ$150 million, with the ability to accept up to NZ$50 million oversubscriptions. The offer is expected to open in late January 2010.

Meridian is seeking preliminary indications of interest. No indication of interest will involve an obligation or commitment of any kind. No money is currently being sought and no applications for the REBs will be accepted or money received unless the subscriber has received an Investment Statement.

Key Features
• 5 and 7 year bonds
• Meridian intends to apply to NZX for permission to list the REBs. NZX is a registered exchange.
• $5000 minimum investment

To register your interest and to obtain a copy of the Investment Statement (once available) visit www.meridianinvestments.co.nz or call the joint lead managers BNZ on 0800 275 270 or First NZ Capital Securities Limited on 0800 005 678 or contact any of the co-managers or your NZX broker.

ENDS

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