Edison Investment Research Report Update: Chatham Rock Phosphate - 2014 to be a defining year

Dear Chatham Rock Phosphate shareholder,

This report was released by Edison Investment Research in London last night and has just been filed with NZX.

Regards,

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz