FLETCHER BUILDING LIMITED — Capital/Financing Update 2008

Jun 9, 2008

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News Release

STOCK EXCHANGE LISTINGS: NEW ZEALAND (FBU), AUSTRALIA (FBU).

FLETCHER BUILDING MARCH 2012 CAPITAL NOTES

Auckland, 9 June 2008 – Fletcher Building Limited advises that it has completed the sale of some March 2012 Capital Notes from Treasury Stock. The details of the issuance, as required by listing rule 7.12.1, are:

Issuer	Fletcher Building Limited
Class of security and ISIN	Capital Notes FBU210(NZFBUD0016S0)
Number issued	500,000
Nominal value and issueprice	$1.00 per capital note; Issue Price $0.92
Payment method	Cash
Amount paid up (if not in full)	Paid in full
Percentage of the total classof securities issued	0.5%
Reason for the issue	Normal cash management
Specific authority for theissue	Directors’ resolution
Any terms or details of theissue	N/A
Total number of securities ofthe class in existence afterthe issue	88,579,500 (which includes CapitalNotes acquired and held as treasurystock)
Issue date	6 June 2008

Sara Double Treasurer Phone: +64 9 525 9339 Fax: +64 9 525 9029

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