BLUE STAR PRINT GROUP CAPITAL BONDS OFFER CLOSES FULLY SUBSCRIBED

Blue Star Print Group Limited (BSPG) today announced that its offer of $75 million of Capital Bonds had been well received by investors, and was fully subscribed when it closed on Friday. In addition to the General Offer, a further $30 million in oversubscriptions was taken up by existing investors under the Rollover Offer and public pool investors, taking the total value of the offering to $105 million. Rateset for the Capital Bonds was this morning and the rate was set at the minimum rate of 9.10%. BSPG is pleased that Capital Bonds have been allotted to approximately 3,700 New Zealand investors. Tom Sturgess, Chairman of BSPG, said that this was a pleasing result for the Company.

It is anticipated that the Capital Bonds will be listed on the NZDX. Application has been made to NZX for permission to list the securities and all the requirements of NZX relating thereto that can be complied with on or before the date of the prospectus have been duly complied with. However, NZX accepts no responsibility for any statement in this announcement. Interest will be paid quarterly, with the first Interest Payment Date scheduled to occur on 15 March 2006.