Net Asset Backing 1.95 cents

Advice of Widespread Portfolios (NZSX code "WID") Net Asset backing per share

We wish to advise that the unaudited net asset backing per Widespread
Portfolios share, as at noon on 11 January 2008, was 1.95 cents.

The fully diluted NTA per share, assuming all the remaining warrants are
exercised, ranges between 1.99 cents a share (assuming all are exercised by
30 June 2009 @ $2.00 and $2.20) and 2.47 cents a share (assuming all the
remaining warrants are exercised @ $3 and $3.30 between 1 July 2009 and 30
June 2012).

For and on behalf of the Board,

Chris D Castle

Onekaka, 11 January 2008