Share Allotment

The allotment of shares has occurred today under the Share Purchase Plan of Widespread Portfolios Limited dated 15 May 2008. Existing shareholders that subscribed for shares under the Plan will be sent statement of their new holdings shortly.

A total of 41,954,585 shares were subscribed for at $0.0125 per share, raising a total of $524,432.31 in new capital for Widespread Portfolios. The capital raised will be used to increase Widespread Portfolios' interests in its existing investments and for investment in new opportunities that fall within its investment strategy.

The Board is delighted with the level of uptake by shareholders in the Plan, particularly given the difficult economic conditions at present and thanks shareholders for their continued support of Widespread Portfolios.

The following information is provided in accordance with Listing Rule 7.12:

Class of security:Ordinary SharesNZNZIE0007S5ISIN:41,954,585Number issued:$0.0125 per shareIssue price:YesPayment in cash:YesFully paid:4.11%Percentage of class:To raise further funds for investment.Purpose of the issue:Board resolutionAuthority for the issue:As set out in the Share Purchase Plan booklet dated 15 May 2008Terms or conditions of the issue:1,061,971,504 (excluding treasury stock of 9,500,000 shares)Total number of shares on issue following allotment:20 June 2008Date of issue:

On behalf of the Board,

Chris D Castle

Director