Widespread Portfolios Fact Sheet

SUMMARY Widespread Portfolios is listed on the NZSX (code WID) and has been operating successfully as a niche investment company since 1989. The company listed by means of a reverse takeover of NZIJ.co.nz Limited in December 2003, Following a 50:1 share consolidation on 8 July the company has 21,435,782 shares and 8,505,123 30 June 2012 warrants on issue. Liquidity in the stock has been high with 143.2 million shares (pre-consolidation) and 810,000 warrants (representing 81 million shares preconsolidation) traded in calendar 2007.

FINANCIALS Audited net assets at 31 March 2008 were $17.562 million (82 cents/share) Unaudited net assets as at 12 July 2008 were $16.353 million (76 cents/share), reflecting reduced market values in two key investments.

MARKET VALUE $12.8 million (ords - 50 cents, warrants 25 cents)

OPERATING PHILOSOPHY Widespread is a venture capital investor in the mining sector.   

The primary objective is to achieve growth in shareholders' funds. The objective is not to make trading profits on a regular annual basis by selling successful investments.  A year in which NTA per share increases by 20% or more is a good year, regardless of the accounting profit or loss that may have been incurred. The company has no borrowings and is funded entirely by shareholders' equity. The company does not pay dividends: all profits are retained and reinvested. Another key aspect of the WPL investment approach is the relatively narrow spread of investments held at any one time. Often 4 or 5 investments represent at least 90% of the portfolio value.

INVESTOR RETURNS  

MANAGEMENT STRUCTURE Widespread has no staff. The company is operated under contract by Chris Castle.  

DIRECTORS Linda Sanders (chairman), Chris Castle, Denis Kelly, Jill Hatchwell, Keith Hindle

MAIN ASSETS Asian Mineral Resources (68.3% of portfolio), King Solomon Mines (10%), Widespread Energy (3.1%), new strategic investments (11.8%) and cash and small holdings (8.8%).

ASIAN MINERAL RESOURCES (AMR) Widespread holds approximately 7% of this TSX.V listed company that is developing a nickel mine in Vietnam. There is significant potential upside in the value of this shareholding as AMR moves toward production, expected in early 2009. AMR is presently valued on the TSX.V at a fraction of the value implied by its peers (Canadian and Australian nickel companies). Investors are referred to www.asianminres.com for further information including all AMR's recent announcements.

KING SOLOMON MINES Widespread holds 11% of King Solomon which is exploring for minerals in the under explored Inner Mongolia section of a major fold belt that elsewhere hosts world-class gold and copper deposits. KSO has a strong initial project portfolio which includes Marmot Ridge, a porphry copper prospect along geological trend from the giant Oyu Tolgoi copper-gold deposit, Wuritu, a potential high-grade shear hosted copper deposit, Amoyitele, containing magnetite hosted skarn iron and copper prospects; nickel and lead anomalies. Other prospects include Sonid North & South containing regional shear hosted disseminated gold targets. More information can be found at www.kingsolomonmines.com

WIDESPREAD ENERGY Widespread Portfolios holds 24.3% of NZAX listed Widespread Energy, a venture capital investor in the energy sector. Widespread Energy has invested in the following opportunities:

• Akura Limited (privately owned, Fiji based oil explorer)

• Petroleum Exploration Permit (PEP) 38526 over the Kotuku Oil Seeps, West Coast, South Island

• 11.7% of Green Gate Limited, a holder of four South Island petroleum exploration permits

• PEP 50439 covering an area of over 3,269 km2, off the West Coast of the South Island between Hokitika and Punakaiki.

• An application (in a joint venture with Widespread Portfolios) for an offshore prospecting permit, seeking phosphorite and associated minerals, covering an area of 3,048 km2 on the central Chatham Rise. The area encompassed by the permit is located 600 km east of Christchurch.

KEY VALUE DRIVERS Significant capital growth is anticipated in the value of Widespread's major investments. However, given the portfolio weightings, an increase in the value of AMR will have the most effect on Widespread's asset backing per share. AMR shares are presently trading at CA$1.55. As the company moves toward production the market value should correct (upwards) to better align with the values of other nickel mining companies. If the value of AMR shares were to increase to CAD3.00, (still a substantial discount to peer group values) the asset backing per Widespread share would increase 66.5% from its present 1.79 cents to 2.98 cents.
 
SHAREHOLDERS Directors hold 13.4%, top 20 shareholders 50.7%, 800 other shareholders