TOWER LIMITED — Director's Dealing 2009

Oct 4, 2009

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5 October 2009

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 PO Box 2959 Sydney NSW 2000 Wellington AUSTRALIA New Zealand ARBN 088 481 234 Incorporated in New Zealand

Disclosure of directors’ interests

Disclosure notices and Appendix 3Y notices, in relation to changes in the number of shares held by directors following the allotment of shares under the TOWER Limited rights issue, are attached.

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Bronwyn Walsh Company Secretary & Compliance Manager TOWER Limited

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5. 5 . Date of this disclosure notice

Anthony Ian Gibbs TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8)

3. 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

Anthony Ian Gibbs, Valerie Jane Gibbs & Joseph Michael Windmeyer Ordinary shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable)

3. Nature or type of transaction (as required by regulation 11(1)(a))

4. Consideration (as required by regulation 10)

5. Number of securities held prior, set out by class and type (as required by regulation 8)

6. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

9-Sep-09 28-Sep-09 1 Acquisition. Allotment of 5,196 shares under rights issue NZ$1.34 per share

626 ordinary shares and 5,196 rights to subscribe for ordinary shares

5,196 ordinary shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

5,822 ordinary shares

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5 . Date of this disclosure notice

William John Falconer TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8)

8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

William John Falconer Ordinary Shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)

3. Number of transactions (as required by regulation 12(2), if applicable)

4. Nature or type of transaction (as required by regulation 11(1)(a))

5. Consideration (as required by regulation 10)

6. Number of securities held prior, set out by class and type (as required by regulation 8)

7. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

7-Sep-09 28-Sep-09

1

Acquisition. Allotment of 1,850 shares under rights issue NZ$1.34 per share

10,690 ordinary shares. 1,850 rights to acquire ordinary shares.

1,850 Ordinary Shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

12,540 Ordinary Shares

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5. 5 . Date of this disclosure notice

Michael Leslie Jefferies TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8) 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

Michael Leslie Jefferies Ordinary shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable)

3. Nature or type of transaction (as required by regulation 11(1)(a))

4. Consideration (as required by regulation 10) 15. Number of securities held prior, set out by class and type (as required by regulation 8)

5. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

19-Mar-09 28-Sep-09 1 Allotment of 726 shares NZ$1.34 per right

• 2,323 ordinary shares and 726 rights to subscribe for ordinary shares

726 ordinary shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

3,049 ordinary shares

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5. 5 . Date of this disclosure notice

John Lewis Spencer TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8) 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

John Lewis Spencer Ordinary shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable)

3. Nature or type of transaction (as required by regulation 11(1)(a))

4. Consideration (as required by regulation 10)

5. Number of securities held prior, set out by class and type (as required by regulation 8)

6. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

19-Mar-09 28-Sep-09

1 Acquisition. Allotment of 4,586 shares under rights issue. NZ$1.34 per right

14,675 ordinary shares and 4,586 rights to subscribe for ordinary shares

4,586 ordinary shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

19,261 ordinary shares

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5. 5 . Date of this disclosure notice

Susannah Adair Staley TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8) 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

Susannah Adair Staley Ordinary shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable)

3. Nature or type of transaction (as required by regulation 11(1)(a))

4. Consideration (as required by regulation 10)

5. Number of securities held prior, set out by class and type (as required by regulation 8)

6. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

19-Mar-09 28-Sep-09 1 Acquisition. Allotment of 1,826 shares NZ$1.34 per right

• 5,842 ordinary shares and 1,826 rights to subscribe for ordinary shares

1, 826 ordinary shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

7,668 ordinary shares

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5. 5 . Date of this disclosure notice

Denis Michael Wood TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8) 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

Denis Michael Wood

Ordinary shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable)

3. Nature or type of transaction (as required by regulation 11(1)(a))

4. Consideration (as required by regulation 10)

5. Number of securities held prior, set out by class and type (as required by regulation 8)

6. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

19-Mar-09 28-Sep-09

1 Acqusition. Allotment of 27,249 shares under rights issue. NZ$1.34 per right

87,197 ordinary shares and 27,249 rights to subscribe for ordinary shares

27,249 ordinary shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

114,446 ordinary shares

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

117145607 \ 0450340 \ KVY01 \ Disclosure Notice

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice) √

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

5. 5 . Date of this disclosure notice

Robin Albert Flannagan TWR TOWER Limited N/A Director 5-Oct-09

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8)

3. 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

Robin Albert Flannagan Ordinary shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable)

3. Nature or type of transaction (as required by regulation 11(1)(a))

4. Consideration (as required by regulation 10)

5. Number of securities held prior, set out by class and type (as required by regulation 8)

6. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

19-Mar-09 28-Sep-09 1 Acquisition. Allotment of 164 shares under rights issue. NZ$1.34 per right 524 ordinary shares. 164 rights to subscribe for ordinary shares. 3,000,000 unlisted options to acquire ordinary shares. 164 ordinary shares

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

688 ordinary shares. 3,000,000 unlisted options.

Signature (as required by regulation 14)

Bronwyn Walsh Company Secretary & Compliance Manager

117145607 \ 0450340 \ KVY01 \ Disclosure Notice

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice)

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B. Preliminary

1. Name 2. NZX company code of issuer Name of issuer 3. Name of related body corporate (if applicable) 4. Position you hold in the issuer 5 . Date of this disclosure notice

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b)) 7. Class and type of security (as required by regulation 6B or regulation 8) 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C) E. Transaction (for ongoing disclosure) 10. Date of last disclosure (as required by regulation 13) 11. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9) 12. Number of transactions (as required by regulation 12(2), if applicable) 13. Nature or type of transaction (as required by regulation 11(1)(a)) 14. Consideration (as required by regulation 10) 15. Number of securities held prior, set out by class and type (as required by regulation 8) 16. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

F. Extent of relevant interest 17. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

Signature (as required by regulation 14)

Robin Flannagan/Eric O'Sullivan TWR TOWER Limited N/A Group Managing Director/Group Chief Financial Officer 5-Oct-09 TOWER Option Scheme Limited Ordinary TOWER shares & options to acquire ordinary TOWER shares Non-beneficial as directors of TOWER Option Scheme Limited which holds the relevant interest. The registered holder is the trustee of the TOWER Limited Executive Share Option Plan

N/A 1 September 2009 28 September 2009 1 Acquisition. Allotment of shares under rights issue $1.34 per share 6,046,608 options, 74,636 shares and 23,324 rights to acquire ordinary shares 23,324 ordinary shares

6,046,608 options and 97,960 shares Notice given by TOWER pursuant to clause 14 of the Securities Markets Act (Disclosure of Relevant Interests by Directors and Officers) Exemption Notice 2004

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Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Anthony Ian Gibbs
Date of last notice	9 September 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Beneficial interest in shares held by Anthony Ian Gibbs, Valerie Jane Gibbs and Joseph Michael Windmeyer
Date of change	28 September 2009
No. of securities held prior to change	626 ordinary shares 5,196 rights to subscribe for ordinary shares
Class	Ordinary shares Rights to subscribe for ordinary shares
Number acquired	5,196 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	5,822 ordinary shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change Acquisition. Allotment of shares under Example: on-market trade, off-market trade, exercise of options, issue of rights issue securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2 Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	William John Falconer
Date of last notice	4 September 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	28 September 2009
No. of securities held prior to change	10,690 ordinary shares. 1,850 rights to acquire ordinary shares.
Class	Ordinary shares Rights to acquire ordinary shares
Number acquired	1,850 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	12,540 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Acquisition. Allotment of 1,850 ordinary shares under rights issue.

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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----- Start of picture text -----

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Michael Leslie Jefferies
Date of last notice	19 March 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	28 September 2009
No. of securities held prior to change	2,323 ordinary shares 726 rights to subscribe for ordinary shares
Class	Ordinary shares Rights to subscribe for ordinary shares
Number acquired	726 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	3,049 ordinary shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change Acquisition. Allotment of shares under rights Example: on-market trade, off-market trade, exercise of options, issue of issue. securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Lewis Spencer
Date of last notice	19 March 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	28 September 2009
No. of securities held prior to change	14,675 ordinary shares 4,586 rights to subscribe for ordinary shares
Class	Ordinary shares Rights to subscribe for ordinary shares
Number acquired	4,586 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	19,261 ordinary shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change Acquisition. Issue of shares under rights Example: on-market trade, off-market trade, exercise of options, issue of issue securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Susannah Adair Staley
Date of last notice	19 March 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	28 September 2009
No. of securities held prior to change	5,842 ordinary shares 1,826 rights to subscribe for ordinary shares
Class	Ordinary shares Rights to subscribe for ordinary shares
Number acquired	1,826 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	7,668 ordinary shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change Acquisition. Issue of shares under rights Example: on-market trade, off-market trade, exercise of options, issue of issue securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Denis Michael Wood
Date of last notice	19 March 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	28 September 2009
No. of securities held prior to change	87,197 ordinary shares 27,249 rights to subscribe for ordinary shares
Class	Ordinary shares Rights to subscribe for ordinary shares
Number acquired	27,249 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	114,446 ordinary shares

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of change Acquisition. Issue of shares under rights Example: on-market trade, off-market trade, exercise of options, issue of issue securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TOWER Limited ABN 088 481 234

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Robin Albert Flannagan
Date of last notice	1 September 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Director of TOWER Option Scheme Limited which is the trustee of the TOWER Limited Executive Share Option Plan(NZ)
Date of change	28 September 2009
No. of securities held prior to change	Direct: 524 shares 164 rights to acquire ordinary shares 3,000,000 unlisted options to acquire ordinary shares Indirect: 74,636 ordinary shares 23,324 rights to acquire ordinary shares 6,046,608 unlisted options
Class	Ordinary shares Rights to acquire ordinary shares Unlisted options

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	Direct: 164 ordinary shares Indirect: 23,324 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$1.34 per share
No. of securities held after change	Direct: 688 ordinary shares and 3,000,000 unlisted options. Indirect: 97,960 ordinary shares and 6,046,608 unlisted options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Acquisition. Issue of shares under rights issue.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

==> picture [434 x 316] intentionally omitted <==

----- Start of picture text -----

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change
----- End of picture text -----

• See chapter 19 for defined terms.

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