TOWER LIMITED — Director's Dealing 2010

Feb 7, 2010

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8 February 2010 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’ AND OFFICER’S INTERESTS

Attached are disclosure notices and ASX Appendix 3Y notices in relation to changes in directors’ interests following the allotment of shares under TOWER’s Dividend Reinvestment Plan.

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Bronwyn Walsh Company Secretary 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 8-Feb-10

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))

5-Oct-09 2-Feb-10 1

Acquisition. Allotment of 250 shares under Dividend Reinvestment Plan NZ$2.007 per share

5,822 ordinary shares

250 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)

6,072 ordinary shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

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1

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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

William John Falconer TWR TOWER Limited N/A Director 8-Feb-10

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))

5-Oct-09 2-Feb-10 1 Acquisition. Allotment under Dividend Reinvestment Plan NZ$2.007 per share 12,540 ordinary shares

562 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)

13,102 Ordinary Shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

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1

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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 8-Feb-10

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))

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)

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))

5-Oct-09 2-Feb-10 1 Acquisition . Allotment under Dividend Reinvestment Plan NZ$2.007 per share

3,049 ordinary shares

144 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)

3,193 ordinary shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

117145607 \ 0450340 \ KVY01 \ Disclosure Notice

1

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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 8-Feb-10

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))

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))

5-Oct-09 2-Feb-10

1

Acquisition. Allotment under Dividend Reinvestment Plan NZ$2.007 per share 19,261 ordinary shares

827 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)

20,088 ordinary shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

117145607 \ 0450340 \ KVY01 \ Disclosure Notice

1

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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 8-Feb-10

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))

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))

5-Oct-09 2-Feb-10 1 Acqusition. Allotment under Dividend Reinvestment Plan NZ$2.007 per share 114,446 ordinary shares

4,912 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)

119,358 ordinary shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

117145607 \ 0450340 \ KVY01 \ Disclosure Notice

1

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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

Susannah Adair Staley TWR TOWER Limited N/A Director 8-Feb-10

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))

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))

5-Oct-09 2-Feb-10 1 Acquisition. Allotment under Dividend Reinvestment Plan NZ$2.007 per share 7,668 ordinary shares

329 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)

7,997 ordinary shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

117145607 \ 0450340 \ KVY01 \ Disclosure Notice

1

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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 8-Feb-10

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))

5-Oct-09 2-Feb-10 1 Acquisition. Allotment under Dividend Reinvestment Plan NZ$2.007 per share 688 ordinary shares. 3,000,000 unlisted options.

30 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)

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

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

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1

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	Anthony Ian Gibbs
Date of last notice	5 October 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	2 February 2010
No. of securities held prior to change	5,822 ordinary shares.
Class	Ordinary shares
Number acquired	250 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share
No. of securities held after change	6,072 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 under Dividend Reinvestment Plan.

• 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 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	5 October 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	2 February 2010
No. of securities held prior to change	12,540 ordinary shares.
Class	Ordinary shares
Number acquired	562 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share
No. of securities held after change	13,102 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 under Dividend Reinvestment Plan.

• 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 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	5 October 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	2 February 2010
No. of securities held prior to change	3,049 ordinary shares.
Class	Ordinary shares
Number acquired	144 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share
No. of securities held after change	3,193 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 under Dividend Reinvestment Plan.

• 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 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	5 October 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	2 February 2010
No. of securities held prior to change	19,261 ordinary shares.
Class	Ordinary shares
Number acquired	827 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share
No. of securities held after change	20,088 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 under Dividend Reinvestment Plan.

• 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 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	5 October 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	2 February 2010
No. of securities held prior to change	114,446 ordinary shares.
Class	Ordinary shares
Number acquired	4,912 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share
No. of securities held after change	119,358 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 under Dividend Reinvestment Plan.

• 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 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	5 October 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	2 February 2010
No. of securities held prior to change	7,668 ordinary shares.
Class	Ordinary shares
Number acquired	329 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share
No. of securities held after change	7,997 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 under Dividend Reinvestment Plan.

• See chapter 19 for defined terms.

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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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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
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• See chapter 19 for defined terms.

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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	15 January 2010

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	2 February 2010
No. of securities held prior to change	Direct: 688 ordinary shares and 3,000,000 unlisted options. Indirect: 20,276 ordinary shares and 6,525,608 unlisted options
Class	Ordinary shares Unlisted options
Number acquired	Direct: 30 ordinary shares
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	NZ$2.007 per share.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

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

Direct: 718 ordinary shares and 3,000,000 unlisted options. Indirect: 20,276 ordinary shares and 6,525,608 unlisted options Exercise of options

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.

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