Annual Meeting of Beneficiaries

29 October 2009

Beneficiaries are invited to attend the Auckland Energy Consumer Trust’s annual meeting of beneficiaries at 7.00pm, Thursday 29 October 2009, at the Auckland Racing Club and Ellerslie Event Centre, 80-100 Ascot Avenue, Greenlane.

THE PRIMARY AGENDA ITEMS FOR THE MEETING ARE:

Appointment of Auditor:

Recommendation: That in accordance with section 158C (1) of the Electricity Act 1992, Grant Thornton be appointed as auditors of the Auckland Energy Consumer Trust for the ensuing year.

Fixing of the Remuneration of the Auditor:

Recommendation: That in accordance with section 158C (3) of the Electricity Act 1992, the Trust is authorised to fix the fees and expenses of the auditors for the ensuing year.

In accordance with the Electricity Act 1992, there will also be an opportunity for beneficiaries at the meeting to question, discuss, or comment on the management of the Trust.

Availability of Financial Statements:

Please note that the audited consolidated financial statements of the Auckland Energy Consumer Trust for the 12 months ended 30 June 2008 are available on the Trust’s website www.aect.co.nz.