Windflow Extends Share Offer

7 June 2001

The closing date for Windflow Technology Ltd's Stage 1 share offer has been extended until Friday, 6th July 2001.

Windflow Technology Limited is a Christchurch-based company which is establishing New Zealand-based manufacturing of the state-of-the-art "Windflow" wind turbine. It released its Stage 1 share offer in April. The company has been using the internet to promote the offer, and the public can download the Investment Statement and Prospectus from its web-site, investor relations

To date, $1.1 million has been subscribed, more than 50% of the minimum target. About 180 investors have subscribed. In addition, the venture has the support of the Christchurch City Council. As part of their overall sustainable city programme they will buy the output from the first Windflow turbine.

Geoff Henderson, director and CEO, said " We are very pleased with the result, which has been achieved in such a short time. The response in the last two weeks has been overwhelming."

"While the extension is for another five weeks, the offer may not stay open for that full period - it will probably be closed as soon as the subscription is filled and shares allocated on a first come, first served basis. We look forward to filling the offering as soon as possible so that engineering work may commence on this exciting technology venture."