Smartshares Limited releases results for the NZX MidCap Index Fund (smartMIDZ)

30 August 2006 – Smartshares Limited, a wholly owned subsidiary of New Zealand Exchange Limited, (NZX) has announced its results for the smartMIDZ Fund, (Fund) covering the six-month period from 1 January 2006 to 30 June 2006.

Key points include:

• The NZX MidCap Index*, (Index) which incorporates both price changes, dividends and imputation credits paid, was up 25.45% for the six months to 30 June 2006.
  - During the period, Unitholders received fully imputed distributions totalling 7.07 cents per unit.
  - The net tangible asset value per unit as at 30 June 2006 was $2.92 up 22.29% from $2.39 at 30 December 2005. The capital value of the Index was up 22.29% for the same period. Therefore the Fund accurately tracked the Index for the six months ended 30 June 2006.
  

Other significant events during the six month period included:

• Index changes
• Capital Properties New Zealand Limited and Vector Limited were removed from the Index on 4 January 2006; Carter Holt Harvey Limited was added.
• The delisting of Carter Holt Harvey Limited on 27 March 2006 gave rise to the promotion of New Zealand Refining Company Limited into the Index.
• The second quarter of 2006 observed Skellerup Holdings Limited and Ebos Group Limited entering the Index, with the latter replacing Waste Management NZ Limited.
• Smartshares added a fifth fund to their family of funds on 30 June 2006 – the NZX Australian 20 Leaders Index Fund (smartOZZY).
• Smartshares launched a quarterly electronic communication, smartALERT. Interested parties can register to receive smartALERT on our website, www.smartshares.co.nz.

For further information regarding Smartshares visit www.smartshares.co.nz.

*Gross with imputation credits index value

Download the smartMIDZ Appendix 1

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