Police have located an elderly Port Waikato man reported missing this morning.

Earlier police had aired "serious concerns" for the 78-year-old man who had a medical condition.

Paul Thomas Ellery had been last seen in a Mazda Eunos convertible at 8.40am today, in Pokeno.

This afternoon police thanked the public for their help locating Ellery.

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Police said he was found "safe and well in Port Waikato a short time ago".