TOWER LIMITED — Capital/Financing Update 2009

Sep 24, 2009

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Company Announcements Office Market Information Australian Stock Exchange Limited NZX Limited Exchange Centre Level 2, NZX Centre Level 6, 20 Bridge Street 11 Cable Street Sydney NSW 2000 PO Box 2959 ARBN 0088 481 234 Incorporated in New Zealand Wellington New Zealand

25 September 2009

TOWER Limited Rights Issue

Please refer to the attached media release and notice relating to TOWER’s pro-rata renounceable rights issue.

Bronwyn Walsh Company Secretary & Compliance Manager TOWER Limited

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MEDIA RELEASE For immediate release

25 September 2009

TOWER RIGHTS ISSUE OVERSUBSCRIBED

Auckland, NZ: TOWER Limited’s (TOWER) rights issue which closed on 23 September 2009 has been oversubscribed by 47%. Total applications of $119.85 million were received from holders taking up rights and applying for additional shares. The maximum offer amount of $81.3 million of shares will be issued.

TOWER Group Managing Director Rob Flannagan, said:

“I am delighted with the level of support for the rights issue as the oversubscription is a strong vote of confidence in TOWER. The success of the offer indicates that our shareholders support TOWER’s strategy for business growth, both organically and through strategic opportunities that may arise.”

The new shares are expected to be issued on 28 September 2009.

Note: all amounts stated as New Zealand dollars.

ENDS

For further information please contact: Rob Flannagan - Group Managing Director TOWER Limited Tel: +64 9 369 2057

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25 September 2009

TOWER rights issue oversubscribed by 47%

TOWER Limited ( TOWER ) advises that its NZ$81.3 million pro-rata renounceable rights issue for 60,686,427 new shares closed on 23 September 2009 oversubscribed by 47%. Total applications of NZ$119.85 million were received from holders taking up rights and applying for additional shares.

For the purposes of the NZSX and ASX Listing Rules, TOWER advises the following:

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• Subscriptions received under entitlements: 55,233,694 ordinary shares totalling NZ$74 million, representing a take-up of entitlements of 91%;

Under subscription for entitlements: 5,452,733 ordinary shares totalling NZ$7.3 million, representing a shortfall in take-up of entitlements of 9%;

Applications for additional shares under excess subscription facility: 34,204,899 ordinary shares totalling NZ$45.8 million, representing an oversubscription of 47%.

TOWER will allocate all shortfall shares to applicants for additional shares in accordance with the terms of the excess subscription facility. The new shares are expected to be issued on 28 September 2009, with shareholder statements to be dispatched shortly thereafter

Bronwyn Walsh Company Secretary & Compliance Manager TOWER Limited

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