Review of Trading in Wool Equities Limited

The Securities Commission has completed a review of trading in the shares of Wool Equities Limited. This matter was referred to the Commission by NZX on 22 November 2006, following a complaint by some shareholders.

The review related to allegations of insider trading against the former Chairman, Mr Richard Bentley, and the former Chief Executive Officer, Mr Mark O'Grady.

The Commission will not be taking any further action in this matter.

The Commission notes the cooperation of Wool Equities Limited, Mr Bentley and Mr O'Grady during its review.

Ends

Contact: Catherine Chapman phone 04 471 7659

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