7 November 2017

Market Information Company Announcements Office

NZX Limited ASX Limited

Level 1, NZX Centre Exchange Centre

11 Cable Street Level 6, 20 Bridge Street

Wellington Sydney NSW 2000

New Zealand Australia

VERO WITHDRAWS COMMERCE COMMISSION APPEAL

Tower Limited (NZX/ASX: TWR) has been advised by Vero Insurance New Zealand Limited (a wholly owned subsidiary of Suncorp Group Limited) that it will no longer be appealing the Commerce Commission's decision to decline its application to acquire 100% of Tower.

The Tower Board of Directors is continuing to develop plans to raise further capital and will update the market with its full year results on 14 November 2017.

ENDS

TOWER

Michael Stiassny Chairman

Tower Limited

ARBN 088 481 234 Incorporated in New Zealand

For media queries, please contact:

Nicholas Meseldzija

Head of Corporate Communications Mobile: +64 21 531 869

Email: Nicholas.meseldzija@tower.co.nz

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Suncorp Group Ltd. published this content on 07 November 2017 and is solely responsible for the information contained herein.
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