TEXT-Pike River to replace Hellaby in NZX benchmark index

(The following statement was released by the NZX)

WELLINGTON, June 6 - NZX has today announced the promotion of Pike River Coal (PRC)to the NZX 50 Index following the June Quarterly Index Review.

Pike River Coal will replace Hellaby Holdings in the NZX 50 Index and will initially rank around 43rd.

The index change will be effective at the opening of trading on Tuesday 1 July 2008. Pike River Coal will also be added to the NZX 50 Portfolio Index and the NZX MidCap Index, effective from the same day.

The NZX 50 Portfolio Index is a replica of the NZX 50 Index, except with the weighting of any one company capped at 5%.

The NZX MidCap Index tracks the performance of the medium sized companies of the NZX 50 Index. The NZX 50 Index comprises the securities of 50 of the largest and most liquid companies quoted on the NZSX Market.

It is the New Zealand sharemarket's best known benchmark, recognised by the news media, investment professionals and the general public.