Arvida : Rights Offer Reminder of Closing Date

Arvida Group Limited (ARV) Market Release 11 OCTOBER 2016 RIGHTS OFFER - REMINDER OF CLOSING DATE AND AVAILABLE ACTIONS

On 27 September 2016, Arvida Group Limited ('Arvida') issued an offer document detailing a 1-for-7 pro rata renounceable offer of new shares to existing shareholders (the 'Offer'). The Offer is to partly fund the acquisition of 3 villages located in prime growth areas of Tauranga and Cambridge where Arvida is not currently represented. Arvida completed settlement of the acquisitions on 3 October 2016.

Shareholders should have by now received a copy of the offer document detailing their right to subscribe for new shares under the Offer. Rights were allocated to shareholders on the basis of 1 new share for every 7 existing shares held on the record date. Rights are tradeable on the NZX Main Board (under the ticker code 'ARVRA'), with each right entitling the holder to subscribe for one new share.

Shareholders wishing to sell their rights on the NZX Main Board must do so before the rights cease trading at 5.00pm on 12 October 2016.

Any shareholders wishing to accept the Offer and take up all or some of their entitlement should do so promptly, to ensure their application and payment is received by the Registrar, by 5.00pm on 18 October 2016 (the 'Closing Date').

If you have already applied and paid for your application, you do not need to take any further action.

Eligible shareholders who do not take up, renounce or sell their full entitlement and ineligible shareholders whose entitlements are not sold by a nominee on their behalf, may receive some value in respect of those new shares if a premium is achieved under the Bookbuild that is expected to take place on 21 October 2016. There is no guarantee that any premium will be achieved under the Bookbuild.

Further details of the Offer are contained in the offer document which sets out important information about the Offer and is available at www.arvidashareoffer.co.nz. Before making an investment decision, shareholders should read the offer document in full. Shareholders are encouraged to take their own professional advice before they invest. If shareholders have any enquiries about the Offer they should be directed to an NZX Broker, or your lawyer, accountant or other professional advisor.

If any shareholder has not received details of their rights or a copy of the offer document, or has misplaced their copy, they should contact the Registrar on [phone] or [e-mail].

- ENDS -

For more information, please contact:

Bill McDonald, Chief Executive Officer, Arvida Group Limited Telephone: [phone] or email: [e-mail]

Jeremy Nicoll, Chief Financial Officer, Arvida Group Limited Tel: [phone] or email: [e-mail]

About Arvida:

Arvida Group Limited (Arvida) is a retirement village group with an emphasis on providing a continuum of care from independent living through to high quality aged care services. Arvida has 25 villages across New Zealand comprising: Aria Bay, Aria Gardens and Aria Park, Auckland; Copper Crest and Views, Tauranga; Lauriston Park, Cambridge; Glenbrae, Bay of Plenty; Molly Ryan, New Plymouth; Lansdowne Park, Masterton; Olive Tree, Palmerston North; Waikanae Lodge, Waikanae; Oakwoods and The Wood, Nelson; Ashwood, Blenheim; Ilam, The Maples, Mayfair, Park Lane, Rhodes on Cashmere, St Albans, St Allisa and Wendover, Christchurch; and Bainlea House, Bainswood House and Bainswood on Victoria, Rangiora. Arvida's shares trade on the NZX Main Board under the code ARV. See www.arvida.co.nz