Notification of issue of securities

FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED NOTIFICATION OF ISSUE OF SECURITIES

(NZSE:FPH, ASX:FPH) Fisher & Paykel Healthcare Corporation Limited advises that 5,040 ordinary shares in the company were issued on 19 March 2003 to the trustees of the Fisher & Paykel Healthcare Australian Employee Share Scheme (the Scheme), to be held on trust for those employees accepting an offer to participate in the the Scheme following approval by the Board on 5 March 2003. The issue price of the shares is NZ$7.44 per share and will be paid in cash.

The Company has a total of 102,430,499 ordinary shares on issue.  This issue of shares takes that total to 102,435,539. 5,040 ordinary shares represent approximately 0.005% of the shares presently on issue.

The shares were issued on the terms of the scheme as set out in the Trust Deed dated 19 December 2001.

This advice is given under Listing Rule 7.12.1.

Antony  Barclay
Company Secretary