The New Zealand Wine Company

Offer of Share Options to Eligible Employees

The Chairman, Mr Mark Peters, announced that The New Zealand Wine Company Limited (NWC) has registered a Short Form Prospectus with the Companies Office today offering 51,100 share options at an exercise price of $2.20 per option to eligible employees all of whom are existing shareholders in the Company. The options will not be traded nor are they transferable and lapse on cessation of employment or if unexercised prior to 1 October 2011, or two working days after the 2011 AGM, whichever is the later. The options are convertible to ordinary shares on a one-for-one basis, subject to the terms of the Prospectus, and may be exercised progressively over a phased period of up to five years. The offer closes on 2 November 2006.

For further information please contact:

Mark Peters

Chairman, The New Zealand Wine Company Limited

PO Box 67, Renwick, Marlborough

Tel: +64 3 578 7159

Fax: +64 3 578 8968