RD - We can build a signficicant company in just NZ and Australia, but it would be very exciting to crack the US as well. We knew that getting people to change their accounting software would be hard and also the minimum required feature set is large and it would take a while to build all the features the incumbents had. Answer: Many people these days carry USB flash drives and/or portable HDDs to store their documents. In addition to the funding requirements we also knew that for people to entrust us with their financial data and long term viability we had to have credibility and being listed on the NZX. We have been able to raise enough cash, our winning of webby awards last year and this year show we can write world class software, the near 1000 accounting partners show traction in the industry as well as customer and revenue growth. Infratil intends to conduct a non-underwritten Retail Offer to eligible existing shareholders to raise up to NZ$100 million, with the ability to scale applications or accept over subscriptions at Infratil’s discretion. Determination of eligibility of investors for the purposes of the Retail Offer is determined by reference to a number of matters, including legal regimes and the discretion of the Lead Managers and the Company.

The Company and the Lead Managers disclaim all liability in respect of the exercise of that discretion to the maximum extent permitted by law. The Lead Managers and its respective affiliates, related bodies corporate, directors, officers, partners, employees, agents and advisers make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this announcement and, with regard to the Lead Managers and its respective advisers, affiliates, related bodies corporate, directors, officers, partners, employees, shareholders, representatives and agents take no responsibility for any part of this announcement, the Placement or the Retail Offer. The Lead Managers and its respective affiliates, related bodies corporate, directors, officers, partners, employees, agents and advisers make no recommendations as to whether you or your related parties should participate in the Placement or Retail Offer nor do they make any representations or warranties to you concerning the Placement or Retail Offer, and you represent, warrant and agree that you have not relied on any statements made by the Lead Managers or its respective affiliates, related bodies corporate, directors, officers, partners, employees, agents or advisers in relation to the Placement and Retail Offer and you further expressly disclaim that you are in a fiduciary relationship with any of them.

Retail Offer, free of any brokerage, commission and transaction costs. Securities and Exchange Commission. Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state or other jurisdiction of the United States. Accordingly, the securities to be offered and sold in the Placement may not be offered or sold, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable securities laws of any state or other jurisdiction of the United States. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of IFT, its directors and management, are difficult to predict and may involve significant elements of subjective judgement and assumptions as to future events which may not be correct and could cause actual results to differ materially from those expressed in the forward-looking statements.

The information in this announcement remains subject to change without notice. The historical information in this announcement is, or is based upon, information that has been released to NZX Limited ("NZX") and/or ASX Limited ("ASX"). This announcement has been authorised for release to NZX and ASX by the Company’s Board of Directors. This announcement is for information purposes only and is not financial or investment advice or a recommendation to acquire the Company’s securities, and has been prepared without taking into account the objectives, financial situation or needs of prospective investors. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and consult a financial adviser, solicitor, accountant or other professional adviser if necessary. Having tripled revenues and reached over 17,000 customers is fantastic. New Zealand Reserve Bank on its website at 3.00pm New Zealand time on the closing date of the Retail Offer), shares having a total issue price equal to NZ$50,000 (converted in accordance with the Retail Offer booklet), which may be less than A$45,000, will be issued to the shareholder and they will be refunded the excess cash amount. The distribution of this announcement in jurisdictions outside New Zealand and Australia may be restricted by law and you should observe any such restrictions.

If you want to learn more information regarding what is control cable stop by the web site.