FLETCHER BUILDING LIMITED — Capital/Financing Update 2007

Jul 29, 2007

Appendix 7 of Listing Rules.

==> picture [524 x 21] intentionally omitted <==

EMAIL: announce@nzx.com

Notice of event affecting securities

NZX Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10.

Number of pages including this one (Please provide any other relevant details on additional pages)

For change to allotment, Listing Rule 7.12.1, a separate advice is required.

Full name of Issuer Name of officer a make this notice	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited
	ut	horised to						Authority for event, e.g. Directors' resolution
						Treasurer
Contact phone number		09 525 9339						09 525 9029		ate			30 07 2007
Nature of event Tick as appropriate		Bonus If ticked, Issue state whether: Taxable Rights Issue Capital non-renouncable change Call						/ Non Taxable Conversion If ticked, state Dividend whether: Int		eri	m	In	Rights Issue terest X Renouncable Full Year Special
EXISTING securities affected by this If more than one Description of the March 2009 Capital Notes FBU180 class of securities								security is affected by the event, us	e a separate fo ISI	rm N	.
			March 2009 Capital Notes FBU180										NZFBUD0013S7
													If unknown, contact NZX
Details of securities issued pursuant to this event If more than one class of security is to Description of the Interest Announcement Convertible Securities class of securities Number of Securities to Minimum be issued following event Entitlement								more than one class of security is to	be issued, us ISI	e a N	separate form for each class. If unknown, contact NZX Ratio, e.g 1 for 2 for
Description of the class of securities Number of Securities t be issued following ev
			Interest Announcement				Convertible Securities
			o ent				Minimum Entitlement						If unknown, contact NZX Ratio, e.g 1 for 2 for
Conversion, Maturity, Payable or Exercise D			Call ate				Treatment of Fra		ctions
Strike price per security for any Strike Price available.				iss	Enter N/A if not applicable ue in lieu or date		Tick if provide an paripassu OR explanation of the ranking

Monies Associated with Event Dividend payable, Call payable, Exercise price, C In dollars and cents Source of 7.80% for 184 days Payment Amount per security	Monies Associated with Event Dividend payable, Call payable, Exercise price, C In dollars and cents Source of 7.80% for 184 days Payment Amount per security	Monies Associated with Event Dividend payable, Call payable, Exercise price, C In dollars and cents Source of 7.80% for 184 days Payment Amount per security	Monies Associated with Event Dividend payable, Call payable, Exercise price, C In dollars and cents Source of 7.80% for 184 days Payment Amount per security	Monies Associated with Event Dividend payable, Call payable, Exercise price, C In dollars and cents Source of 7.80% for 184 days Payment Amount per security	Monies Associated with Event Dividend payable, Call payable, Exercise price, C In dollars and cents Source of 7.80% for 184 days Payment Amount per security	onversion price, Redemption price, Application money.	onversion price, Redemption price, Application money.
	In
	Amount per security
		7.80% for 184 days
	Currency Total monies	New Zealand Dollars			Supplementary Amount per security dividend in dollars and cents details - Listing Rule 7.12.7 Date Payable		$
		$3,663,436.47
Taxation					Amountper Security in Dollars and cents to six deci		malplaces
In the case of a taxable bonus issue state strike price			$	Resident Withholding Tax	$ Credits (Give details)
			$		$		$

Timing (Refer Appendix 8 in the Listing Rules)

Record Date 5pm

For calculation of entitlements

Notice Date

Entitlement letters, call notices, conversion notices mailed

31 August, 2007

Application Date

Also, Call Payable, Dividend / Interest Payable, Exercise Date, Conversion Date. In the case 17 September, 2007 of applications this must be the last business day of the week.

Allotment Date

For the issue of new securities. Must be within 5 business days of record date.

OFFICE USE ONLY

Ex Date: Commence Quoting Rights: Security Code: Cease Quoting Rights 5pm: Commence Quoting New Securities: Security Code: Cease Quoting Old Security 5pm:

Reprinted May 2006 Page 1 of 1

Appendix 7 of Listing Rules.

==> picture [524 x 21] intentionally omitted <==

EMAIL: announce@nzx.com

Notice of event affecting securities

NZX Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10.

Number of pages including this one (Please provide any other relevant details on additional pages)

For change to allotment, Listing Rule 7.12.1, a separate advice is required.

Full name of Issuer Name of officer a make this notice	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited
	ut	horised to						Authority for event, e.g. Directors' resolution
						Treasurer
Contact phone number		09 525 9339						09 525 9029		ate			30 07 2007
Nature of event Tick as appropriate		Bonus If ticked, Issue state whether: Taxable Rights Issue Capital non-renouncable change Call						/ Non Taxable Conversion If ticked, state Dividend whether: Int		eri	m	In	Rights Issue terest X Renouncable Full Year Special
EXISTING securities affected by this If more than one Description of the March 2011 Capital Notes FBU190 class of securities								security is affected by the event, us	e a separate fo ISI	rm N	.
			March 2011 Capital Notes FBU190										NZFBUD0014S5
													If unknown, contact NZX
Details of securities issued pursuant to this event If more than one class of security is to Description of the Interest Announcement Convertible Securities class of securities Number of Securities to Minimum be issued following event Entitlement								more than one class of security is to	be issued, us ISI	e a N	separate form for each class. If unknown, contact NZX Ratio, e.g 1 for 2 for
Description of the class of securities Number of Securities t be issued following ev
			Interest Announcement				Convertible Securities
			o ent				Minimum Entitlement						If unknown, contact NZX Ratio, e.g 1 for 2 for
Conversion, Maturity, Payable or Exercise D			Call ate				Treatment of Fra		ctions
Strike price per security for any Strike Price available.				iss	Enter N/A if not applicable ue in lieu or date		Tick if provide an paripassu OR explanation of the ranking

Monies Associated with Event Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money. In dollars and cents Source of 7.55% for 184 days Payment Amount per security Currency New Zealand Dollars Supplementarydividend in dollars and centsAmount per security $ details - Listing Rule 7.12.7 Total monies $2,597,689.82 Date Payable Taxation Amount per Security in Dollars and cents to six decimal pper Security in Dollars and cents to six decimal per Security in Dollars and cents to six decimal py in Dollars and cents to six decimal p in Dollars and cents to six decimal pplaces In the case of a taxable bonus $ Resident $ Credits $ issue state strike price Withholding Tax (Give details)

Amount per Security in Dollars and cents to six decimal pper Security in Dollars and cents to six decimal per Security in Dollars and cents to six decimal py in Dollars and cents to six decimal p in Dollars and cents to six decimal pplaces

Timing (Refer Appendix 8 in the Listing Rules)

Record Date 5pm

For calculation of entitlements

Notice Date

Entitlement letters, call notices, conversion notices mailed

31 August, 2007

Application Date

Also, Call Payable, Dividend / Interest Payable, Exercise Date, Conversion Date. In the case 17 September, 2007 of applications this must be the last business day of the week.

Allotment Date

For the issue of new securities. Must be within 5 business days of record date.

OFFICE USE ONLY

Ex Date: Commence Quoting Rights: Security Code: Cease Quoting Rights 5pm: Commence Quoting New Securities: Security Code: Cease Quoting Old Security 5pm:

Reprinted May 2006 Page 1 of 1

Appendix 7 of Listing Rules.

==> picture [524 x 21] intentionally omitted <==

EMAIL: announce@nzx.com

Notice of event affecting securities

NZX Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10.

Number of pages including this one (Please provide any other relevant details on additional pages)

For change to allotment, Listing Rule 7.12.1, a separate advice is required.

Full name of Issuer Name of officer a make this notice	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited	Fletcher Building Limited
	ut	horised to						Authority for event, e.g. Directors' resolution
						Treasurer
Contact phone number		09 525 9339						09 525 9029		ate			30 07 2007
Nature of event Tick as appropriate		Bonus If ticked, Issue state whether: Taxable Rights Issue Capital non-renouncable change Call						/ Non Taxable Conversion If ticked, state Dividend whether: Int		eri	m	In	Rights Issue terest X Renouncable Full Year Special
EXISTING securities affected by this If more than one Description of the March 2012 Capital Notes FBU210 class of securities								security is affected by the event, us	e a separate fo ISI	rm N	.
			March 2012 Capital Notes FBU210										NZFBUD0016S0
													If unknown, contact NZX
Details of securities issued pursuant to this event If more than one class of security is to Description of the Interest Announcement Convertible Securities class of securities Number of Securities to Minimum be issued following event Entitlement								more than one class of security is to	be issued, us ISI	e a N	separate form for each class. If unknown, contact NZX Ratio, e.g 1 for 2 for
Description of the class of securities Number of Securities t be issued following ev
			Interest Announcement				Convertible Securities
			o ent				Minimum Entitlement						If unknown, contact NZX Ratio, e.g 1 for 2 for
Conversion, Maturity, Payable or Exercise D			Call ate				Treatment of Fra		ctions
Strike price per security for any Strike Price available.				iss	Enter N/A if not applicable ue in lieu or date		Tick if provide an paripassu OR explanation of the ranking

Monies Associated with Event Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money. In dollars and cents Source of 7.50% for 184 days Payment Amount per security Currency New Zealand Dollars Supplementarydividend in dollars and centsAmount per security $ details - Listing Rule 7.12.7 Total monies $3,349,033.15 Date Payable Taxation Amount per Security in Dollars and cents to six decimal pper Security in Dollars and cents to six decimal per Security in Dollars and cents to six decimal py in Dollars and cents to six decimal p in Dollars and cents to six decimal pplaces In the case of a taxable bonus $ Resident $ Credits $ issue state strike price Withholding Tax (Give details)

Amount per Security in Dollars and cents to six decimal pper Security in Dollars and cents to six decimal per Security in Dollars and cents to six decimal py in Dollars and cents to six decimal p in Dollars and cents to six decimal pplaces

Timing (Refer Appendix 8 in the Listing Rules)

Record Date 5pm

For calculation of entitlements

Notice Date

Entitlement letters, call notices, conversion notices mailed

31 August, 2007

Application Date

Also, Call Payable, Dividend / Interest Payable, Exercise Date, Conversion Date. In the case 17 September, 2007 of applications this must be the last business day of the week.

Allotment Date

For the issue of new securities. Must be within 5 business days of record date.

OFFICE USE ONLY

Ex Date: Commence Quoting Rights: Security Code: Cease Quoting Rights 5pm: Commence Quoting New Securities: Security Code: Cease Quoting Old Security 5pm:

Reprinted May 2006 Page 1 of 1