DISCLOSURE OF INFORMATION RELATING TO FINANCIAL STATEMENTS UNDER THE

ELECTRICITY INFORMATION DISCLOSURE REQUIREMENTS 2004, SCHEDULE 1 PART 2

Continued

| | 2004
| $000's | 2003
| $000's | 2002
| $000's |
|----------------|----------------|------------------------------|--------|
| 9. Equity | | | |
| (a) Shareholders' Equity:- | | | |
| (i) Share capital | 27,739 | 27,739 | 27,739 |
| (ii) Retained earnings | 15,394 | 12,512 | 9,299 |
| (iii) Reserves | 107,939 | 82,190 | 82,061 |
| (iv) Total Shareholders' Equity (sum of (i) to (iii)) | 151,072 | 122,441 | 119,099 |
| (b) Minority Interests in Subsidiaries | - | - | - |
| (c) Total Equity (sum of (a) and (b)) | 151,072 | 122,441 | 119,099 |
| (d) Capital Notes | - | - | - |
| (e) Total Capital Funds (sum of (c) and (d)) | 151,072 | 122,441 | 119,099 |

| 10. Total Equity and Liabilities (Total Assets) | 158,396 | 128,125 | 122,526 |

| 11. Operating Revenue | | | |
| (a) Revenue from line/access charges | 28,128 | 27,524 | 26,953 |
| (b) Revenue from "Other" business (transfer payment) | - | - | - |
| (c) Interest on Cash, Bank Balances and Short Term Investments | 222 | 140 | 50 |
| (d) AC Loss-Rental Rebates | 1,097 | 857 | 1,607 |
| (e) Other Operating Revenue Not Listed in (a) to (d) | 1,880 | 1,810 | 819 |
| (f) Total Operating Revenue | 31,327 | 30,331 | 29,429 |

| 12. Operating Expenditure | | | |
| (a) Payment for Transmission Charges | 9,659 | 9,376 | 9,003 |
| (b) Transfer Payments to the "Other" business for:- | | | |
| (i) Asset maintenance | 2,934 | 3,366 | 2,688 |
| (ii) Consumer disconnection/reconnection services | 15 | 15 | - |
| (iii) Meter data | - | - | - |
| (iv) Consumer-based load control services | - | - | - |
| (v) Royalty and patent expenses | - | - | - |
| (vi) Avoided transmission charges on account of own generation | - | - | - |
| (vii) Other goods and services not listed in (i) to (vi) | 853 | 873 | 960 |
| (viii) Total transfer payment to the 'Other' business (sum of (i) to (vii)) | 3,802 | 4,254 | 3,648 |

| (c) Expense to Entities That Are Not Related Parties for:- | | |
| (i) Asset maintenance | 101 | 259 | 360 |
| (ii) Consumer disconnection/reconnection services | - | - | - |
| (iii) Meter data | - | - | - |
| (iv) Consumer-based load control services | - | - | - |
| (v) Royalty and patent expenses | - | - | - |
| (vi) Total of specified expenses to non-related parties (sum of (i) to (v)) | 101 | 259 | 360 |

| (d) Employees Salaries, Wages and Redundancies | 2,408 | 1,879 | 2,011 |
| (e) Consumer Billing and Information System Expense | 111 | 113 | 294 |
| (f) Depreciation On:- | | | |
| (i) System fixed assets | 3,242 | 3,401 | 3,218 |
| (ii) Other assets not listed in (i) | 305 | 430 | 588 |
| (iii) Total depreciation (sum of (i) and (ii)) | 3,547 | 3,831 | 3,806 |