Investment company Hellaby Holdings Limited yesterday announced the appointment of John Maasland as its chairman effective 6 November 2009.

Mr Maasland has been an independent non-executive director of Hellaby since 2008, and he succeeds Bill Falconer who retired from the Board at the completion of yesterday's annual general meeting.

 Mr Maasland is chairman of The New Zealand Radio Network, and is a director of Delegat's Group, APN News & Media, Waterman Holdings and the Auckland Regional Chamber of Commerce. He is a former chairman of Carter Holt Harvey, Wilson & Horton and Auckland International Airport.

Mr Falconer, who announced his intention to retire in September, has been chairman of Hellaby Holdings since 1995.

Following Mr Falconer's retirement, the Hellaby Holdings Board will consist of the Managing Director and five non-executive directors.

For further information please contact:

John Williamson
Managing Director
Hellaby Holdings Limited
Phone: 09 — 307 6844
Mobile: 021 — 271 4960