Botherway Joins DNZ Property Fund Board

Press Release
DNZ Property Fund Limited
Date: 2 November 2009
Release: Immediate

Botherway Joins DNZ Property Fund Board

DNZ Property Fund has appointed former high profile fund manager and shareholder advocate Simon Botherway, as an Independent Director.

DNZ Property Fund Chairman Tim Storey said Mr Botherway brought a wealth of capital market experience and knowledge to complement the skill mix among the unlisted property fund’s current Board members.

Mr Botherway was Executive Chairman of Brook Asset Management Limited until he resigned that position late last year and was recently appointed to the Securities Commission – a role he’ll take up in February 2010.

He has a Bachelor of Commerce from Otago University and holds the post-graduate Chartered Financial Analyst (CFA) designation from the US-based CFA Institute (CFAI). He is currently a director of Fisher & Paykel Appliances Holdings Limited, is a Past-President of the CFA Society of NZ and was a member of CFA Institute’s Asia-Pacific Advocacy Committee. He has also chaired the NZX’s Asset Management Advisory Board.

About DNZ Property Fund Limited
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with 61 commercial office, retail and industrial properties located in Whangarei, Auckland, Tauranga, Hamilton, Rotorua, Palmerston North, Napier, Wellington, Nelson, Christchurch and Dunedin. As at 31 August 2009 DNZ Property Fund had 274 tenants, a weighted average lease term (WALT) of 5.01 years, an occupancy rate of 96% over a net lettable area of 411,440m2, annualised Income of $57m with a portfolio value of $730m. DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares. DNZ Property Fund Limited is managed by DNZ Management Limited, Part of DNZ Property Group.

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