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eVentures New Zealand appoints blue-chip Board

7 April 2000 For immediate release

** eVentures New Zealand appoints blue-chip Board of Directors **

eVentures New Zealand Chairman Craig Heatley today announced the appointment of the company's Board of Directors.

The Board comprises three international directors with global expertise in new media and business development and four prominent New Zealand business people with outstanding track records of success in the telecommunications, investment and retail industries.

Mr Heatley said the directors collectively bring enormous commercial experience as well as potential to eVentures.

"The Board comprises an outstanding mix of blue-chip business experience and dynamism. It represents a level of commercial acumen and strength of talent unprecedented in New Zealand's e-commerce market," said Mr Heatley.

"Their expertise will be invaluable to eVentures New Zealand achieving its vision of being the leading e-commerce and internet investment company in New Zealand."

International directors are Mark Booth, the former chief executive and managing director of BSkyB in the United Kingdom and current CEO of epartners (an investment vehicle and subsidiary of News Corporation); Jesse Parker, Jr, vice-president for business development of SOFTBANK International Ventures; and Bruce McWilliam, a partner in epartners.

The New Zealand directors are Dr Roderick Deane, Telecom New Zealand chairman; Stephen Tindall, founder and managing director of The Warehouse; Robert Bryden, managing director of Todd Capital; and Steven McCollam, managing director of McCollam Capital Partners.

Based in London, Mr Booth has 20 years' experience in the television industry in the United States, Australia, Asia, Europe and the United Kingdom. As founding CEO of MTV Europe, he was responsible for launching MTV into Europe. He is also a former CEO of the Australian pay television service, Foxtel. During his tenure, Foxtel became Australia's leading pay television operator. At BSkyB Mr Booth's strategic direction propelled the company to digital leadership and its current position as one of the top 20 companies on the FTSE index.

Mr Parker, who is based in Boston, oversees the business development activities for SOFTBANK's investment activities outside the United States and Japan. He led SOFTBANK's entry into Europe, successfully negotiating the entry of SOFTBANK portfolio companies into the United Kingdom and Europe.

Mr McWilliam, who is a partner in epartners, was formerly general counsel of News International plc and a former director of BSkyB. He negotiated many international deals for News Corporation in Europe, Asia and Australia.

Dr Roderick Deane has had an outstanding career in both the public and private sectors. He is a former deputy governor of the Reserve Bank of New Zealand and has served as CEO of the Electricity Corporation of New Zealand and of Telecom New Zealand. He is currently chairman of Telecom, Fletcher Challenge and the ANZ Banking Group.

Mr Tindall is founder and managing director of The Warehouse, which has become New Zealand's largest merchandise retail chain with the proposition of 'making the desirable affordable'.

Mr Bryden is the managing director of Todd Capital and has an extensive investment background in the telecommunications, energy and pay television industries. His recent directorships include CLEAR Communications Ltd, AAPT Ltd, Power New Zealand Ltd and WEL Energy Ltd.

Mr McCollam is the managing director of McCollam Capital Partners, a private investment firm with investments in venture capital, property, technology and global equities and bonds. He was previously managing director of the publicly-listed company, McCollam Printers.

eVentures New Zealand will launch leading international e-commerce companies in New Zealand and infuse them with development strategies, capabilities, infrastructure and financial support. It will also provide investment and incubation services for both new and established internet businesses in New Zealand.

eVentures' first international internet product, e-LOAN, will be launched in New Zealand in the next few months. Launched in the United States in 1997, e-LOAN is an online lending service that provides a wide range of personal and commercial financing options. The second product will be Message Media, a leading business-to-business e-messaging product (the internet equivalent of direct mail).

Mr Heatley, who pioneered pay television in New Zealand with Sky TV, formed eVentures New Zealand in January 2000. eVentures New Zealand is a joint venture between Mr Heatley, SOFTBANK Corporation (one of the world's leading internet investors founded in 1981 by new media entrepreneur, Masayoshi Son) and epartners (the new media venture capital fund of News Corporation, one of the world's largest media companies). Mr Heatley has a 20% shareholding in eVentures New Zealand, while SOFTBANK and epartners hold 80% through eVentures Partnership.

For further information contact: Cindy Mitchener, Chief Executive Officer, on 09-358-4103 cindym@eventures.co.nz

Communications Contact: Rachel Catanach on 04-4999-111 rachel@svl.co.nz

* B A C K G R O U N D E R *

-Craig Heatley, Chairman-

Craig Heatley has developed several businesses which enjoy mass participation and high customer satisfaction among New Zealanders.

Mr Heatley is Board Chairman of Sky Television. He pioneered pay television in New Zealand with the formation of Sky, launched with business partner Terry Jarvis, in 1987. Sky now has a market capitalisation of NZ$1.2 billion and is New Zealand's eighth largest company.

He entered the leisure/entertainment business in 1980 with ventures in Auckland, Mt Maunganui, Taupo and Wellington. He developed and launched Rainbow Enterprises in 1981. Rainbow Corporation listed on the NZSE in May 1984 with a market capitalisation of NZ$6 million. When Brierley Investments Limited took over Rainbow Corporation in 1987, its market capitalisation had grown to more than $500 million.

Mr Heatley has a 5.4% interest in INL, and sits on the INL Board.

In addition to his Board activities, Mr Heatley manages his family trust and real estate and equity portfolios.

Mr Heatley has a BCA in marketing from Victoria University.

-Mark Booth, Director-

American Mark Booth is the CEO of epartners, the new media venture capital fund of News Corporation, one of the world's largest media companies. He has 20 years' experience in the television industry in the United States, Australia, Asia, Europe and the United Kingdom.

From 1997-1999, as chief executive and managing director of the United Kingdom's major satellite television operation, British Sky Broadcasting, Mr Booth led the transition from analogue to digital. The Sky launch, to date, has been the fastest-ever digital subscriber launch. During this period, Mr Booth also served as Chairman of Open, the interactive digital platform.

Mr Booth joined BSkyB from JSkyB in Japan where he was the chief operating officer and responsible for developing the company's business strategy. Sony and Fuji were brought into the partnership during his tenure.

Mr Booth was the founding CEO of MTV Europe (responsible for the launch of MTV Europe) and the President of UIH Programming. He was also the founding CEO of the Australian pay television service, Foxtel. Under his leadership, Foxtel, became the leading pay television operator in Australia.

-Robert Bryden, Director-

Robert Bryden is the managing director of Todd Capital Ltd, a member of the Todd Corporation.

He has an extensive investment background in the telecommunications, energy and pay television industries. This includes managing Todd's founding investments since 1990-91 in Clear Communications, Sky Network Television Ltd and AAPT Ltd.

He was also involved as an investor and director in the privatisation of New Zealand's power industry from the mid to late 1990s.

He is currently chairman of IndeServe, a director of Sky Network Television Ltd and of Metlifecare Ltd, the largest retirement village operator in New Zealand.

His recent directorships include CLEAR Communications Ltd, AAPT Ltd, Power New Zealand Ltd and WEL Energy Ltd.

Todd Capital has a 5% holding in INL.

Mr Bryden holds a BCA from Victoria University.

-Dr Roderick Deane, Director-

Dr Roderick Deane has had an outstanding career in both the public and private sectors. He is Chairman of Telecom Corporation of New Zealand Limited, having previously been Chief Executive and Managing Director for seven years.

Dr Deane is also Chairman of Fletcher Challenge Ltd, Chairman of the ANZ Banking Group (New Zealand) Limited, a Director of the ANZ Banking Group Limited (Melbourne) and a Director of Woolworths Limited.

He is on the Boards of the Centre for Independent Studies in Sydney and the Institute of Policy Studies at Victoria University of Wellington. Dr Deane is also Professor of Economics and Management at Victoria University of Wellington (a part time position).

Amongst other positions, Dr Deane was previously Chief Executive of the Electricity Corporation of NZ Ltd (1987-1992) and Chairman of the State Services Commission (1986). He was Deputy Governor of the Reserve Bank during the critical period of New Zealand's economic transformation (1982-1986) and Alternate Executive Director of the International Monetary Fund.

In the Top 200 New Zealand corporate awards, he was Executive of the Year in 1994 and Chief Executive of the Decade in 1999.

Dr Deane has a PhD, BCom(Hons) and an honorary LLD from Victoria University.

He is a Fellow of the New Zealand Society of Accountants, the Institute of Corporate Management, the New Zealand Institute of Management and the Institute of Secretaries and Administrators. He is a member of the New Zealand Association of Economists.

-Steven McCollam, Director-

Steven McCollam is the managing director of McCollam Capital Partners, a private investment firm with investments in venture capital, property, technology and global equities and bonds.

He was previously managing director of the publicly listed company McCollam Printers. After that company's sale to the Blue Star Print Group in 1997, he served as chairman of the Group until 1998.

During the early 1990s he was instrumental in converting McCollam Printers' technology from a standard analogue manual system to a state-of-the-art digital technology platform. This investment allowed the company to grow significantly and profitably through the early mid-1990s, providing the company with the ability to successfully list on the NZSE in 1994. Before selling the company in 1997, Mr McCollam made several acquisitions for the McCollam Group.

-Bruce McWilliam, Director-

Bruce McWilliam is a partner in epartners, the investment vehicle and subsidiary of News Corporation. He was formerly general counsel of News International plc (1997-1999) and responsible for European pay television initiatives.

He was a director of Vox and TM3 (German television stations) and News Corporation Europe. From 1995-1999 he was a director of British Sky Broadcasting. Before joining News Corporation as Director of Legal and Business Affairs in 1993, he was for seven years a partner in the Australian law firm Allen Allen & Hemsley. He is a solicitor admitted to practice in New South Wales and England.

-Jesse B. R. Parker Jr, Director-

American Jesse B. R. Parker, Jr is the vice-president for business development of SOFTBANK International Ventures. In this role he oversees the business development activities for SOFTBANK's investment activities outside the United States and Japan.

Mr Parker joined SOFTBANK Inc in 1999 as Director of Business Development for the United Kingdom and Europe. He led SOFTBANK's successful entry into Europe and was responsible for implementing joint venture relationships with eVentures and with @viso. Mr Parker successfully negotiated the entry of more than seven SOFTBANK portfolio companies into the United Kingdom and Europe.

Before joining SOFTBANK, Mr Parker worked for IBM where he led several marketing projects which focused on selling IBM technology into the new digital and internet economy, and for Digital Equipment Corporation's Personal Computer Division.

In addition to his directorship of eVentures New Zealand, he is on a number of boards of directors, including eVentures India, Interliant Europe and MessageMedia Europe.

Mr Parker holds a BA in both Chinese History and Philosophy, and Education, and an MBA in International Marketing and Finance from Northeastern University in the United States.

-Stephen Tindall, Director-

Founder and Managing Director of The Warehouse, Stephen Tindall established his first store in Takapuna in 1982, selling mainly imported goods at half the price of his competitors. Since then, The Warehouse has grown from a small, low-cost clearance retailer to become New Zealand's largest general merchandise retail chain. Company growth has been driven by the goal to "make the desirable affordable" to as many New Zealanders as possible and through a strategy of attracting new customers by increasing product lines.

With 69 stores nationwide, The Warehouse's sales are expected this year to top $1 billion for the first time, putting The Warehouse (based on revenue) in New Zealand's top 20 companies.

Mr Tindall and The Warehouse team have earned numerous plaudits for their success, including Company Executive of the Year Award in the 1998 Deloitte-Management Awards. Mr Tindall was awarded an ONZM in 1997.

The Tindall Foundation, a philanthropic organisation established by Mr Tindall, provides funding to a wide range of organisations, business development schemes and educational activities.

Mr Tindall holds a Diploma from the New Zealand Institute of Management, Auckland Institute of Technology.


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