MCHNZ: Announcement on Statement Clarifying Media Reports Regarding Christchurch Land

MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND LIMITED

N Z X A N N O U N C E M E N T

9 December 2019

STATEMENT BY MCK CLARIFYING MEDIA REPORTS

REGARDING CHRISTCHURCH LAND

MCK has been made aware of an article published on the stuff.co.nz website and Christchurch Press relating to the new Catholic Cathedral to be built in Christchurch. The article states that negotiations between the Catholic Diocese of Christchurch "are under way with Millennium and Copthorne Hotels Ltd, which owns the remaining piece".

To comply with its continuous disclosure requirements under the Listing Rules, MCK advises that this is incorrect. No direct negotiations with the Diocese have taken place.

Over the past few years, MCK has received a number of proposals for its land on Colombo Street which was the site of the former Copthorne Hotel Christchurch Central. None of these have resulted in any agreement. MCK will keep the market advised of any future developments in line with its obligations to maintain continuous disclosure to the market.

MCK maintains that it sees Christchurch as an important centre for New Zealand and wishes to return to having a meaningful presence in the Garden City when the time is right.

-ENDS-

Issued by Millennium & Copthorne Hotels New Zealand Limited

Enquiries to:

B K Chiu Managing Director [phone]