TOWER LIMITED — Director's Dealing 2016

Aug 1, 2016

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Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listed issuer:		Tower Limited
Date this disclosure made:		2-Aug-16
Date of last disclosure:		5-Feb-14
Director or senior managergiving disclosure
Full name(s):		Michael PeterStiassny
Name of listed issuer:		Tower Limited
Name of related body corporate (if applicable):		N/A
Position held in listed issuer:		Director

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)

Class of affected quoted financial products:		Ordinaryshares in Tow er Lim it ed
Nature of the affected relevant interest(s):		Benef icial ow ner and regist ered holder of ordinaryshares
For that relevant interest-
Number held in class before acquisition or disposal:		82,335
Number held in class after acquisition or disposal:		82,732
Current registered holder(s):		Michael Pet er St iassny
Registered holder(s)once transfers are registered:		Michael Pet er St iassny

Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)

		le)
		N/A
		N/A
The notional value of the derivative (if any) or the notional amount of underlying financial products(if any):		N/A
A statement as to whether the derivative is cash settled orphysicallysettled:		N/A
Maturitydate of the derivative(if any):		N/A
Expirydate of the derivative(if any):		N/A
Theprice specified in the terms of the derivative(if any):		N/A
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products:		N/A
For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:		N/A
Details of transactions giving rise to acquisition or disposal
Total numberoftransactions towhich noticerelates:		One
		26-Jul-16
		Transfer of 397 ordinary shares from the Estate of LillyStiassny
		N/A

The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration: Number of financial products to which the transaction related: If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of during a closed period: Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: Date of the prior written clearance (if any):

Nil 397 ordinary shares No N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

Summary of other relevant interests after acquisition or disposal:

		N/A
		N/A
		N/A
		N/A
		N/A
The notional value of the derivative (if any) or the notional amount of underlying financial products (if any):		N/A
A statement as to whether the derivative is cash settled or physically settled:		N/A
Maturity date of the derivative (if any):		N/A
Expiry date of the derivative (if any):		N/A
The price's specified terms (if any):		N/A
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlyingfinancialproducts:		N/A
For that derivative relevant interest,-
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:		N/A

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Certification

I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.

Signature of director or officer: Date of signature: 2-Aug-16

or

Signature of person authorised to sign on behalf of director or officer: Date of signature:

Name and title of authorised person:

Notes

Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within—

(a) 20 working days after the first acquisition or disposal disclosed in this notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or

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(b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.