Announcements     |   16 March 2009

Fletcher Building Capital Notes March 2009

Fletcher Building Limited advises that it has today completed the purchase of the March 2009 Capital Notes from those noteholders who had advised that they did not wish to accept the new terms set for the notes.

The details of the acquisition, as required by listing rule 7.12.1, are:

Issuer
Fletcher Building Limited

Class of security and ISIN
Capital Notes FBU180(NZFBUD0013S7), which roll into FBU220(NZFBUDA022C8)

Number acquired
53,058,750.00

Nominal value and acquisition price
$1.00 per capital note; $53,058,750.00 in aggregate

Payment method
Cash

Amount paid up (if not in full)
Paid in full

Percentage of the total class of securities acquired
15 March 2015 (FBU220) – 57%

Reason for the acquisition
As part of the rollover of the Fletcher Building Limited March 2009 Capital Notes

Specific authority for the acquisition
Conditions of the Capital Notes as set out in the Trust Deed

Any terms or details of the acquisition
N/A

Total number of securities  of the class in existence after the acquisition
15 March 2015(FBU220) – 93,168,500 (which includes Capital Notes acquired and held as treasury stock)

Held as treasury stock
Yes

Acquisition date
16 March 2009

Sara Double#
Treasurer
Phone:  +64 9 525 9339