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National Mail Announces Public Share Float


National Mail New Zealand Limited


Media Statement
For immediate release 4 March 2000


National Mail Announces Public Share Float


National Mail New Zealand Limited announced today that it is undertaking an initial public offering of 11.2 million shares at $1.25 per share. The offer opens on
6 March and closes on or before 17 March 2000.

National Mail is a registered postal operator with an Auckland-based mail network specialising in the collection, processing and delivery of mail between businesses and their customers.

National Mail Chief Executive, Antony Fowler, said the company aimed to raise $14 million from the float in order to further expand the company’s business mail and communications operations.

Mr Fowler said the entire allocation of shares has been reserved for existing investors in the company along with firm allocations to the underwriter, clients of the lead manager of the offer and clients of members of the New Zealand Stock Exchange.

He said that while there would be no public pool of shares, there would be the opportunity for public participation once National Mail listed on the New Zealand Stock Exchange, which is expected to occur on 23 March.

“National Mail is already well established in the Auckland market and within two years, we aim to have achieved nationwide coverage offering cost-effective and flexible solutions to the mail and communications needs of the nation’s businesses,” Mr Fowler said.

He said that central to the future development of National Mail will be the innovative use of modern Internet-based technology, alongside traditional postal methods, to redefine the way that businesses think of mail-handling options.

“As e-commerce and e-business become increasingly important elements in modern commercial practice, we anticipate that many businesses will seek to change their communication strategies in line with their customers’ ability to accept the change.

“National Mail will be well placed to assist businesses manage this transition by means of our planned ability to deliver business communications through both physical and electronic channels.

“I am very excited about the future for National Mail. The share float is a very significant step, not just for the company, but for competition in the New Zealand postal services market,” Mr Fowler said.

ENDS

For further information, please contact
Antony Fowler
Chief Executive Officer
National Mail New Zealand Limited
0-9-526 5000

Brief background information on National Mail is attached to this release.

For a copy of the Prospectus and Investment Statement for the offer of shares in National Mail, please contact:

National Mail New Zealand Limited
0-9-526 5000 or
Busby Ramshaw Grice Ltd
0-4-472 8993
025 490 867

National Mail New Zealand Limited

National Mail – The Company


Introduction

National Mail is an Auckland-based, registered postal operator established in November 1998 as an alternative mail services company.

Since late 1999, National Mail has increasingly focused its operation on communications between businesses and their customers. It has developed a network of more than 423,500 individually identified delivery points in the greater Auckland area from Orewa in the north to Drury in the south. The operation includes comprehensive collection, processing and delivery services.

The company also has 650 public letterboxes in its operating area, which are cleared
6 days a week. A further 139 letterboxes are being installed.

By the end of this year, National Mail plans to have established similar postal networks in the Wellington and Christchurch metropolitan areas. Through the use of partnerships including strategic alliances, contractors and franchise operations, National Mail plans to achieve nationwide coverage by the end of 2001.

By 2002, National Mail aims to be the preferred nationwide business mail network for customers seeking flexible, integrated business mail solutions.

National Mail intends to achieve this partly through maintaining low operating costs, wise use of new technology and applying customer focused solutions to database handling, address-list management and mail delivery techniques


Technology

National Mail’s operation is based on the use of up to date technology, including optical character recognition in its automated sorting process and the use of bar coded addressing systems, together with delivery address databases.

Central to the future operation of National Mail will be a redefining of the way businesses think of mail-handling options.

By integrating modern Internet-based technology with the traditional values of postal services, National Mail plans to revolutionise the way businesses are able to maintain effective communications with their customers.

Rather than simply keeping up with the ever-increasing pace of change in the global communications market, National Mail is focused on achieving innovative market leadership.

As e-business and e-commerce become increasingly important in the market, National Mail anticipates that many businesses will seek to change their communications strategies in line with the ability of their customers to accept the change.

National Mail intends to assist businesses in the management of this transition by continuing to develop an ability to deliver business communications through various media – both physical and electronic.


Growth Opportunities

The postal industry in New Zealand has operated in a highly regulated environment for more than 100 years.

The New Zealand postal industry has been recently deregulated thus opening the opportunity for competition, which National Mail expects to provide stimulation to grow the mail market in New Zealand.

Direct mail and marketing techniques in New Zealand are still at an early level of development, compared to the European and US markets, and considerable expansion in these activities can be expected in the future.

There is a growing international trend for direct mail operators to address communications to customers by electronic means such as phone, fax and e-mail as well as by traditional postal mail.

The use of different delivery media has led to an even higher growth-rate in direct mail overseas - a trend which is expected to be reflected in New Zealand.

There are also significant business opportunities available to National Mail from non-traditional operations. For instance, National Mail’s comprehensive address database will be continually developed to meet the needs of a variety of businesses.

Personnel

National Mail employs some 150 staff with approximately 135 employed directly in mail handling operations.

Its senior management team and board of directors have extensive experience in managing and growing entrepreneurial businesses and a range of skills covering commercial operations, corporate governance and marketing.

Chairman Richard Flower has a background in sharebroking, merchant banking and investment. Richard holds a Bachelor of Commerce degree. He is a former council member of the Stock Exchange Association of New Zealand and a former chairman of the Auckland Regional Stock Exchange.

Chief executive officer Antony Fowler’s background is in management in a number of major industries ranging from information technology to electricity. Antony holds a Bachelor of Laws degree.

During his career, he has held key management positions at IBM, was general manager of ComputerLand, Wellington and was chief executive officer and a director of United Electricity Limited. He has a wide experience and proven expertise in strategic planning, transition management, business leadership, relationship building, and marketing.

Director, Paul Meier, has extensive experience in the field of marketing, direct marketing and electronic commerce. As founder and chief executive of Prestige Marketing, best known for the outstanding success of “Natural Glow”, he oversaw the development of a multi million dollar company whose formula was widely franchised internationally.

As vice president-international marketing of the direct response marketing company Everything 4 Less, he was responsible for international marketing activities and electronic commerce operations in more than 70 countries.


ENDS

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