Company Announcements

New Zealand Deposit Guarantee Scheme

Fisher & Paykel Finance Limited has a guarantee under a Crown retail deposit guarantee scheme, being a guarantee that expires on 12 October 2010, and a guarantee under a Crown retail deposit guarantee scheme, being a guarantee that expires on 31 December 2011. The guarantees apply to all Fisher & Paykel Finance Limited’s debentures other than Fisher & Paykel Finance Limited's non-guaranteed debentures (“Excluded Securities”). Excluded Securities offered by Fisher & Paykel Finance Limited are not covered by the guarantee under the Crown retail deposit guarantee schemes. When the current guarantee expires on 12 October 2010 it will be replaced by the extended guarantee which expires on 31 December 2011. Interest and deposit repayments after 11.59 pm on 31 December 2011 will not be covered by the extended guarantee. Specific eligibility criteria, a maximum guarantee cap, and terms and conditions apply to each guarantee. Further information about the Crown retail deposit guarantee schemes is available on the Treasury website.

First ranking secured debenture stock, which has the benefit of the guarantee under the Crown retail deposit guarantee schemes, and first ranking secured debenture stock, which does not have the benefit of the guarantee under the Crown retail deposit guarantee schemes (“Excluded Securities”), are both able to be offered by Fisher & Paykel Finance Limited.

If an investor subscribes for Excluded Securities, none of Fisher & Paykel Finance Limited’s obligations under or in respect of that first ranking secured debenture stock will have the benefit of the guarantee under the Crown retail deposit guarantee schemes.

Long-Term Issuer Credit Rating from Standard and Poor’s.

The creditworthiness of Fisher & Paykel Finance Limited has been rated by Standard & Poor’s Ratings Service. The NZ dollar long-term issuer credit rating assigned on 17 February 2010 is BB Outlook Stable