IPREDICT LTD

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iPredict Launches Stock On Probability Of Hobbit Leaving NZ

Wellington, New Zealand, 22 Oct 2010 ---

New Zealand's online predictions market, iPredict Ltd, has launched a stock forecasting whether the Warner Bros. movies "The Hobbit" will be filmed in New Zealand or whether a substantial proportion of the scenes involving human actors will be filmed in another country.

Trading will begin at noon today New Zealand time, following this morning's announcement by Warner Bros. that it is considering offshore locations for The Hobbit movies.

The launch of the stock follows recent speculation that Warner Bros. will move the project to another country after an industrial dispute between the movies' producers, which include Academy Award Winner Sir Peter Jackson, and unions, including the New Zealand Council of Trade Unions and those representing New Zealand and offshore actors.

The dispute has been escalating and may include direct negotiations between Warner Bros. executives and New Zealand Prime Minister, Rt Hon. John Key.

The Chief Executive of iPredict Ltd, Matt Burgess, said the New Zealand film industry was a major earner of foreign exchange for the country and any final decision by Warner Bros. - one way or the other - would have a significant impact on the New Zealand economy.

"The new iPredict stock will give economic and foreign exchange forecasters real time guidance over the next few days on which way the decision is likely to go," he said.

Accusations are also being made in the New Zealand media that local unions have overplayed their hand in the dispute, prompting iPredict to launch a further stock on whether or not the President of the New Zealand Council of Trade Unions, Helen Kelly, will leave her role for any reason by the end of the year.

Mr Burgess said the relationship between the two stocks would indicate the degree to which the issue would be a factor in any resignation by Ms Kelly.

iPredict is owned by Viclink, the commercial arm of Victoria University of Wellington. Details on the company and the two new stocks can be found at www.ipredict.co.nz

Draft definitions of both stocks are available at https://www.ipredict.co.nz/app.php?do=forum and comments lodged before 11.30 am New Zealand time will be considered before trading begins at noon.

ENDS

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