FLETCHER BUILDING LIMITED — Capital/Financing Update 2009

Feb 9, 2009

News Release

==> picture [103 x 68] intentionally omitted <==

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

FLETCHER BUILDING FINANCE OFFER CLOSES OVERSUBSCRIBED

Auckland, 10 February 2009 – Fletcher Building Finance Limited advises that its offer of Capital Notes under the investment statement and prospectus dated 21 November 2008 has closed fully subscribed on 5 February 2009 for NZ$100 million plus oversubscriptions of NZ$31.3 million. All Capital Notes under this offer have now been allotted.

Fletcher Building’s Chief Financial Officer Bill Roest said the group was extremely pleased with the outcome of the latest Capital Notes offer.

“The successful completion of this transaction means that we have substantially met our refinancing requirements for the current year. Our next major refinancing does not fall due until 2010,” he said.

The Capital Notes commenced trading on the NZX on 9 February 2009.

Philip King General Manager Investor and Media Relations Phone: +64 9 525 9043 Mob: +64 27 444 0203

End