FONZ IPO
Why buy a share when you can buy the whole market?

NZX Funds Management has launched its latest Smartshares fund called FONZ (‘Fifty of New Zealand’). The idea behind the fund is to make investing in the New Zealand sharemarket smarter and easier for more New Zealanders.

Key features of FONZ include:

• Diversified portfolio of the top 50 listed companies (all those in the NZSX 50 Portfolio Index)
• Dual potential for return – due to high dividend yield (6.4% gross) and capital growth (18.4%) in the 12 months to September 2004
• A regular savings scheme – for a minimum initial investment of $1500, you can invest as little as $50 a month (only available during the initial public offer).

NZXFM is supporting the launch of this product with a unique investor presentation.

For details on the presentations and to save your seat go to www.smartshares.nzx.com/register

FONZ is open for investment applications from 15 November 2004 and closes on 3 December 2004. If you would like more information on investing in this unique New Zealand sharemarket opportunity download an investment statement and application form from www.smartshares.nzx.com Alternatively contact any Primary Market Participant.

Units in the NZSX 50 Portfolio Index Fund have been accepted for quotation by New Zealand Exchange Limited and will be quoted upon completion of allotment procedures. However, the Special Division that regulates NZX Funds Management Limited takes no responsibility for this offer.