Convair 580 Air Accident

Market Information Services Section
New Zealand Exchange Limited
Level 9
ASB Tower
2 Hunter Street

Dear Sir/Madam

Announcement (FRE) – Convair 580 Air Accident

Freightways Limited confirms that the Convair 580 which crashed off the Kapiti Coast on Friday evening was owned and operated by its subsidiary Air Freight NZ Limited.

Freightways’ main focus and over-riding concerns are the continuing search for the missing crew, our concern for their families and co-operating with the investigating authorities.

Freightways has implemented contingency plans to return services to normal. This tragedy will however weigh heavily on the Freightways team. The commercial cost to Freightways of this tragedy is expected to be immaterial and will be insignificant in comparison to the lives of our missing crew.

The safety of our people continues to be our highest priority throughout all our operations.

The Company will make further announcements as additional information becomes available.

For further information please contact:

Managing Director
Freightways Limited
Ph: (09) 571 9672
Fax: (09) 571 9671

Chief Financial Officer
Freightways Limited
Ph: (09) 571 9673
Fax: (09) 571 9671