Net Asset Backing 49 cents

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today (New Zealand time), was 49 cents.

The fully diluted NTA per share, assuming all the remaining warrants are exercised, ranges between 73 cents a share (assuming all warrants are exercised by 30 June 2009 @ $1.986 and $2.186) and 96 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, 19 September 2008