FLETCHER BUILDING LIMITED — Capital/Financing Update 2008

Nov 25, 2008

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ABN 35 007 573 417

HILLS ANNOUNCES THE AGREEMENT TO SELL SHAREHOLDING IN FIELDERS AUSTRALIA HAS BEEN TERMINATED

The Group Managing Director of diversified Australian company Hills Industries Limited, Mr Graham Twartz, today announced the conditional agreement to sell its 60% shareholding in Fielders Australia Pty Ltd (“Fielders”) to Fletcher Building Limited has been terminated.

Mr Twartz stated that despite Fielders’ pleasing results and performance ahead of plan, the volatility in global markets and uncertainty surrounding the Australia economy were the major factors in the parties concluding to terminate the conditional sale agreement.

MEDIA CONTACTS:

Graham Twartz Managing Director Hills Industries Limited 0412 818 271

26th November 2008