NZSE Announces Effective Date Of Listing Rule Amendments - The New Zealand Stock Exchange ("NZSE") Announces That All Listing Rule Changes, Except The Proposed Changes Related To Corporate Governance, Will Come Into Force On 1 December 2002

On 16 August 2002 NZSE announced it would be postponing the date on which proposed amendments to the NZSE Listing Rules would come into force to allow NZSE to consider submissions it had received on the proposed amendments.

As a consequence of the submissions received NZSE reviewed the proposed changes and has made some alterations to them. These revised Listing Rule changes will come into force as of 1 December 2002 to align with the proposed commencement date of the Securities Market and Institutions Bill.

Listed companies with a 31 December 2002 balance date will not be required to comply with the amendments to Listing Rules 10.4.1, 10.5.1 and 10.5.2 until 3 months and 1 day after the amendments to those Listing Rule come into force.

NZSE will announce a commencement date for those Listing Rule changes which relate to Corporate Governance once all submissions received by NZSE have been considered.