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Tourism Holdings Limited update on Competitor Receivership

18 July 2013

NZX & MEDIA ANNOUNCEMENT

Tourism Holdings Limited (“thl”) update on Competitor Receivership

thl has received formal communication from Pacific Horizon that it has been placed in receivership. This has also subsequently been reported in the New Zealand media.

thl has contacted the receivers to assist where possible in helping customers to continue with their campervan holiday. Grant Webster CEO said;

“Ensuring customers, especially those who have travelled from overseas, can continue their holiday plans is important from an industry perspective. With the largest range and fleet size in the industry thl is in the best position to assist. We will look to offer customers as close to an equivalent product and price as we can.”

thl will not however be purchasing or leasing any of the Pacific Horizon fleet.

thl is also working with offshore travel agents to assist with future bookings.

thl would also note that there is speculation from some media sources that the Pacific Horizon fleet will be “dumped” on the vehicle sales market. Mr Webster said “we doubt the vehicles will be dumped as there is simply no reason too. We are sure the financiers of Pacific Horizon will be looking for the best possible outcome for all stakeholders.”

Authorised by: Keith Smith Chairman Tourism Holdings Limited

ENDS

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