Smartshares Limited: SmartFONZ Benefits

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SmartFONZ Benefits

SmartFONZ benefits include:

	Dual potential for return through strong dividend yield (6.4%) and capital growth (18.4%) in the 12 months to September 2004
	A regular savings scheme top up for as little as $50 a month
	Flexibility dividends are automatically reinvested and SmartFONZ units can be bought and sold like ordinary shares
	Low Fees less than 1%

Because SmartFONZ tracks the NZX 50 Portfolio Index which has historically had a high dividend yield, you will receive a steady income on top of gains in the share price of SmartFONZ.

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Smartshares Limited is a wholly owned subsidiary of New Zealand Exchange Limited (NZX) and is the manager of SmartFONZ, SmartTENZ, SmartMIDZ, SmartMOZY and SmartOZZY Funds. NZX does not guarantee the performance of SmartFONZ, SmartTENZ, SmartMIDZ, SmartMOZY, and SmartOZZY Funds. Units in SmartFONZ, SmartTENZ, SmartMIDZ, SmartMOZY, and SmartOZZY Funds have been accepted for quotation by NZX and will be quoted upon completion of allotment procedures. However the Special Division which regulates NZX takes no responsibility for this offer. Copies of relevant Investment Statements can be obtained by contacting a Primary Market Participant or Smartshares Ltd directly at www.smartshares.nzx.com or by phoning 0800 80 87 80. All currency in New Zealand dollars unless otherwise stated.