Reset Exchangeable Securities to be amended

IAG Finance (New Zealand) Limited (Issuer), a subsidiary of Insurance Australia Group Limited (IAG), today announced that holders of its Reset Exchangeable Securities (RES) had approved a proposal to amend the RES into an on–balance sheet Tier 1 eligible instrument. The proposal is outlined in the Explanatory Statement dated 23 October 2009.

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To view further information about the proposal to amend the terms of the Reset Exchangeable Securities and underlying IAG preference shares, view public offers and proposals.