Comvita New Zealand Limited

Registered Office Address


Directors
BRACKS, William James
BOUGEN, Alan John
STRATFORD, Claude
WILLIAMS, Jeffrey Kinross
ADLAM, Beverly Rae
TAIT, Robert Bertram


History
Comvita was established in 1974 by Claude Stratford. Comvita was  
founded on the idea of utilising honey and apicultural by-products
drawn from apiaries in the wider Bay of Plenty region and most    
other parts of New Zealand.                                       

Comvita employs 72 staff, 62 of whom work at Paengaroa.           


Major Shareholders
Alan and Lynda Bougen
Flaxmill Trust
Maori Investments Ltd - 19.9%


Shares on Issue
7,862,884


Ownership Restrictions
None Known


Share Registry
BK Registries


Website
www.comvita.com


News

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6th August 2002 - Letter to Shareholders

Dear Shareholder                                                                             


Comvita New Zealand Limited (Comvita) is raising approximately $1.8 million of new equity to 
strengthen its balance sheet, fund continuing development, particularly in Japan, and provide
the flexibility to consider small acquisitions. The raising involves a non renounceable 1 for
4 rights issue to existing shareholders at $1.15 per share (the Offer) and, to the extent of 
any shortfall in Offer proceeds, an immediately subsequent offer of new ordinary shares to   
habitual investors at $1.15 per share (the Placement).                                       

Interests of founding shareholders, Alan and Lynda Bougen and Claude Stratford, have         
undertaken to the Company that they will not take up all their entitlements to New Shares in 
the Offer, in order to give effect to their commitment to reduce their holdings in the       
Company to below 50% before September 2002. As a consequence, it is anticipated that a       
minimum of 700,000 New Shares will lapse in the Offer and be offered to habitual investors in
the Placement.                                                                               

While a listing on the NZSE is not being sought, to improve liquidity, Comvita shares will be
quoted on the Unlisted Security Market (USM) facilitated by the New Zealand Stock Exchange   
(NZSE) following completion of the Offer and Placement. While USM quoted shares are not      
listed shares, they can be traded electronically through NZSE Meber firms, in the same way   
that shares in fully listed companies do.                                                    

ABN AMRO Craigs have agreed to sponser the quotation of Company shares on the USM and are    
Organising Broker to both the Offer and the Placement.                                       

On completion of the Offer and the Placement, Comvita will be in a sound financial position. 
It wil have modest debt, and the resources to both rollout its new subsidiary Comvita Japan, 
and make strategic acquistions where these support the Company's product, market and vertical
integration ambitions.                                                                       

Your Board is very confident about Comvita's future as a pre-eminent New Zealand natural     
health products supplier and international marketer. Accordingly, we recommend you take up   
your rights entitlement. However, if you are unsure what to do, you should contact your      
Investment Adviser, or the Organising Broker, ABN AMRO Craigs Limited.                       


Your sincerely                                                                               

COMVITA NEW ZEALAND LIMITED                                                                  


Bill Bracks                                                                                  
CHAIRMAN                                                                                     

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