National Mail Lists on New Zealand Stock Exchange

Media Statement
For immediate release 23 March 2000

National Mail Lists on New Zealand Stock Exchange

National Mail New Zealand Limited today became the first company of the new millennium to list on the New Zealand Stock Exchange.

National Mail Chairman, Richard Flower, said that it was appropriate that a company with such forward-looking ideas and plans should lead the way into the 21st Century.

The listing follows the company's highly successful share offer, which closed on Friday (17 March) fully subscribed.

Mr Flower said that the popularity of the float demonstrated that, in the current business environment, the investment community was looking for agile and flexible companies which bridged the old and new economies.

"Our operation is based around the convergence of technologies - combining cutting edge electronic systems with proven traditional methodologies," Mr Flower said.

"We see enormous potential for growth in the business communications market and I am pleased to see our vision supported by our new shareholders.

"Today is a very exciting day, not only for National Mail and everybody associated with it, but for all those looking for business innovation and a good investment," Mr Flower said.

The company issued 11.2 million shares at $1.25 per share. From today, it will trade on the NZSE under the code "NML".

National Mail is a registered postal operator specialising in communications between businesses and their customers.

ENDS

For further information, please contact:
Richard Flower
Chairman, National Mail New Zealand Ltd
Tel: 0-9-307 9066

NB: A photograph is available

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