Individual Disclosure Statement - ASB Securities

• ASB Securities Ltd (2003-2006) – Online Discount Broker• ASB BANK Ltd (2002-2003) – Personal BankingBasis of RemunerationI am remunerated on a salary only basis. My salary is paid by ASB Securities Ltd. I am alsoentitled to receive an annual bonus. However, this bonus is entirely at the discretion of thecompany and the amount cannot be predetermined.Fees and Remuneration of ASB Securities LimitedASB Securities and ASB Bank (as applicable) charge fees to their clients for certain of theservices referred to in this Disclosure Statement. Attached is a document showing thesefees as at the date of distribution of this Disclosure StatementASB Securities receives remuneration from the issuers of the following securities(calculated as a % of the amount of the investment):UDC debt securitiesFisher and Paykel Finance debenturesSouth Canterbury Finance debt securitiesMarac Retirement BondsNew Zealand Government Kiwi Bondsup to 0.25% p.aup to 0.5% p.aup to 0.5% p.aup to 0.5% p.aup to 0.25% p.aASB Securities also receives one-off remuneration from the issuers of new listed equityand debt securities in respect of “Firm Allocations”. The remuneration varies from issue toissue but does not normally exceed 3% of the amount invested. Specific information willbe provided in respect of specific issues.ASB Securities may also receive one-off remuneration in relation to other investmentsecurities – such as unlisted managed funds – on which advice is provided at a client’srequest. Specific information will be provided in respect of specific investment securities.ASB Securities may also receive remuneration from ASB Bank of up to 2.5% p.a. of fundsheld on call in the Cash Management Account and Foreign Currency Accounts held withASB Bank.ASB Securities may also receive margin income on foreign exchange transactions of anamount up to 1% of the amount converted.ASB Securities may also receive remuneration from ASB Bank of up to 4% p.a. of amountsoutstanding under any loan provided under a margin lending arrangementThe remuneration referred to in this Disclosure Statement is current at the date of thisDisclosure Statement. Fees and remuneration may change from time to time.Other InterestsYour ASB Securities Adviser (or their Prescribed Persons, as defined in the NZX Rules) may, fromtime to time, hold securities, which are the subject of advice given to you. Other than as describedin this Disclosure Statement, your ASB Securities Adviser does not have any interest orrelationship that is reasonably likely to influence your ASB Securities Adviser in giving investmentadvice.