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Lyttelton Port Merger Update

( Lyttelton Port Company Limited (LPC) has been advised by Christchurch City Holdings Limited (its major shareholder) that it is in principle supportive of the proposed operational merger with Port of Otago Limited (POL).

LPC will now continue to negotiate with POL with an objective of reaching an agreement to merge the two companies’ port operating businesses. The operational merger will require Commerce Commission approval and Shareholder support. Negotiations and discussions are confidential and no further announcement will be made at this time.

Media Release on 29 April 2010 from Lyttelton Port Company (LPC) through NZSX.



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