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Another Drop In Interest Rates By Bankdirect

MEDIA RELEASE

28th August 2000

ANOTHER DROP IN INTEREST RATES BY BANKDIRECT

BankDirect announces a drop to all its fixed home loan interest rates. These new rates will come into effect from tomorrow, 29 August 2000.

Rate New Rate Previously

6 month fixed 7.90% pa. 7.95%pa.

1 year fixed 8.10% pa. 8.15%pa.

2 year fixed 8.20% pa. 8.25%pa.

3 year fixed 8.25% pa. 8.30%pa.

5 year fixed 8.30% pa. 8.40%pa.

"This is great news for the home buyer and for those wanting to re-finance," says BankDirect General Manager, James Mitchell.

"Being a lower cost service provider, BankDirect consistently offers lower lending rates in the highly competitive home lending market. We are focussed on passing interest savings to our customers."

Ends

Prepared on behalf of BankDirect by Drum For further information please contact: James Mitchell Sarah Sparks BankDirect General Manager Drum http://www.bankdirect.com Email: sarahs@drum.co.nz Email: james_mitchell@bankdirect.co.nz

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