Genesis Energy Response to Ownership Announcement

26 January 2011

Genesis Energy has today noted the Government’s intention to seek Treasury advice on the merits and viability of extending the Air New Zealand mixed ownership model to the Company.

Genesis Energy’s Chairman, the Right Honourable Dame Jenny Shipley, said that it was helpful to get clarification today from the Government on its possible policy intentions for the Company.

"The Board and company management will work constructively with the Government as it develops an ownership policy that is coherent and principled and delivers value to the Shareholder and the public of New Zealand," Dame Jenny stated.

At this point in time no further comment will be offered by the company.

Ends

Issued by:

Richard Gordon
Public Affairs Manager
Genesis Energy
P: 09 580 4782
M: 021 681 305