FLETCHER BUILDING LIMITED — Capital/Financing Update 2008

Mar 5, 2008

News Release

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

PURCHASE OF MARCH 2008 CAPITAL NOTES

Auckland, 6 March, 2008 – Fletcher Building Finance advises that it has elected to purchase all of the March 2008 capital notes from those Noteholders who elected to convert their capital notes into ordinary shares of Fletcher Building Limited rather than accept the new terms set for the capital notes. The purchase will occur on 17 March 2008 in accordance with the Trust Deed under which the capital notes were issued.

Contact:

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

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