Net Asset Backing 33 cents

Widespread Portfolios Net Asset backing per share 33 cents

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, was 33 cents.

(Shareholders should also be aware that the net asset backing per share entirely disregarding our investment in Asian Mineral Resources, is 21 cents.)

The fully diluted NTA per share, assuming all the remaining warrants are exercised, ranges between 66 cents a share (assuming all warrants are exercised by 30 June 2009 @ $1.986 and $2.186) and 88 cents a share (alternatively assuming all the remaining warrants are exercised @ $2.986 and $3.286 between 1 July 2009 and 30 June 2012). 

This NTA per share information is also available on our website (www.widespread.co.nz)  and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 3 October 2008