Changes to the Board of Kiwi Income Properties

Changes to the Board of Kiwi Income Properties Limited

The manager of Kiwi Income Property Trust, Kiwi Income Properties Limited, today advises that Non-Executive Director Jim Syme has retired from the Board, effective from 31 March 2010.

Chairman of the Manager, Mr Sean Wareing, commented that Mr Syme has made a significant contribution to the governance of the Trust since he joined the Board in April 2002. He leaves with the thanks and best wishes of the Board and Management.

Further, in accordance with NZX Listing Rule 3.3.2, the Board has determined that Mr John Duncan is now an Independent Director in his role on the Board of Kiwi Income Properties Limited. This follows his resignation last year from the boards of Colonial Life Fiji Limited and the National Bank of Fiji Limited.

The Board of Kiwi Income Properties Limited now comprises five independent directors out of a total of seven, being Messrs Sean Wareing (Chairman), Mike Steur, Robert Narev, John Duncan and Ms Joanna Perry.

ENDS

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