TOWER LIMITED — Board/Management Information 2012

Oct 11, 2012

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For immediate release

12 October 2012

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 Michael Stiassny to Board

(Auckland – NZ) TOWER Limited today announces the appointment of Mr Michael Stiassny as a Director of the Boards of TOWER Limited and TOWER Capital Limited.

Mr Stiassny is a chartered accountant and senior partner of KordaMentha, based in Auckland, which specialises in financial consulting work. He has both a Commerce and Law degree from the University of Auckland.

He is currently Chairman of Vector Limited, as well as a director of a number of public and private companies. Mr Stiassny is a Fellow of Institute of Directors (FinstD) and Council Member of Institute of Directors in New Zealand Inc.

TOWER’s Interim Chairman, Steve Smith, said that the directors were pleased to have someone with the commercial, financial and governance experience of Mr Stiassny join the Board, as the company looks to assess and implement opportunities flowing from TOWER’s strategic review.

The Boards of TOWER Limited and TOWER Capital Limited have determined that Mr Stiassny is an independent director of both companies.

Ends

Rob Flannagan Group Managing Director TOWER Limited Tel: +64 9 369 2279 ARBN 088 481 234 Incorporated in New Zealand

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