TOWER LIMITED — Director's Dealing 2011

Jan 23, 2011

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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

Steven John Boomert TWR TOWER Limited N/A Former CEO TOWER Health & Life Ltd 24-Jan-11

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))

Steven John Boomert

Ordinary shares & options to acquire 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)) F. Extent of relevant interest

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

14-Jan-11 20-Jan-11 6 Sale of shares

NZ$2.01 per share

200,000 options and 115,379 ordinary shares 36,831

200,000 options and 78,548 ordinary shares

Signature (as required by regulation 14)

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Bronwyn Walsh Company Secretary & Compliance Manager

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