Direct Capital investment in Camm 4

21 May 2008, Auckland. Direct Capital has acquired a minority shareholding in Camm 4 Limited (‘Camm 4’), one of the leading joinery manufacturers for the shop-fitting and construction industry. Direct Capital’s investment has been completed from its DCPIII and Pohutukawa private equity funds.

Direct Capital’s investment is to provide expansion capital for the company to broaden its services beyond manufacturing to include the associated installation works and to pursue strategic acquisitions.

Camm 4 services the large retail and construction sectors of the economy and has a range of customers in New Zealand and Australia across different sectors. The shop-fitting industry has traditionally been an owner-operator model with a limited ability to scale operations to match the increasingly national and international business of its clients.

Camm 4 has made a substantial investment in modern production facilities that integrate both manufacturing and financial systems to provide consistent quality and continuous improvement in client fit-outs where timelines are extremely critical.

Chris Stafford-Bush, Camm 4 Managing Director, commented that “to continue growing the business we wanted to partner with an experienced, local investor who could help us both financially and strategically.”

Ross George, Managing Director of Direct Capital said that “Camm 4 is really well-placed to scale its business in a sector that is quite fragmented. We see great opportunities to grow the business and partner with others to create a clear market leader in the industry. We look forward to working with Camm 4 on its various growth initiatives and to continue the company’s success.”

For further information

· Camm 4. Chris Stafford-Bush, Managing Director, 09 477-2377

· Direct Capital. Gavin Lonergan, Investment Director, 09 307 2562