TOWER LIMITED — Board/Management Information 2011

Jun 28, 2011

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29 June 2011

Market Information Company Announcements Office NZX Limited Australian Stock Exchange Limited Level 2, NZX Centre Exchange Centre 11 Cable Street Level 6, 20 Bridge Street Wellington Sydney NSW 2000 New Zealand AUSTRALIA

TOWER APPOINTS NEW DIRECTOR

TOWER announces the appointment of Michael Allen as a Director to the Boards of TOWER Limited and TOWER Capital Limited.

Mr Allen is currently a professional Director with roles in New Zealand, Australia and the UK. He previously led Westpac Institutional Bank in New Zealand and was a participant on Westpac senior strategy groups in New Zealand and Australia.

TOWER's chairman Tony Gibbs said that the Board was very pleased to appoint Mr Allen, whose wealth of management and investment experience would be a major asset to TOWER.

This appointment was made at the request of Guinness Peat Group plc.

Mr Allen will be subject to re-election at the 2012 TOWER Limited Annual Meeting.

The Boards of TOWER Limited and TOWER Capital Limited have determined that Mr Allen is not an independent director of either company.

ENDS

For further information please contact:

A I (Tony) Gibbs Chairman 09 985 6169

TOWER Limited ARBN 088 481 234 Incorporated in New Zealand

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