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Grant Thornton - Aorangi Securities

3 November 2011

Aorangi Securities statutory managers will continue to work with Mrs Hubbard after her release from statutory management

The statutory managers of Aorangi Securities Ltd support the release of Mrs Hubbard from statutory management and will continue to look to and work with her to make good on Mr Hubbard's promise that assets pledged to Aorangi will be available to meet the claims of Aorangi's investors.

The statutory managers will report further to Aorangi investors by the end of November 2011. There will be no further comment until then.

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