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TOWER Appoints New Senior Managers

26 October 2005

MEDIA RELEASE

TOWER Appoints New Senior Managers

TOWER is delighted to announce the following senior appointments:

Jo Hutchinson is appointed Head of Operations for TOWER. Jo joins TOWER from eight years with Sovereign, where she was also Head of Operations. Previous to her role with Sovereign, Jo worked with Aetna Health and Bayer NZ Ltd.

Jo has strong leadership capabilities and a proven track record in service excellence. Her key responsibilities will involve leading the next stages of TOWER's service improvement programme to deliver market leading service to its customers, advisers and alliance partners.

Kathy Crispin is appointed New Business & Underwriting Manager for TOWER Health & Life. Kathy joins TOWER from Southern Cross, where she was Underwriting Manager. Prior to that she was Operations Manager at Fusion and Client Services Manager at Teletec.

Kathy began her career in the medical field before moving into business. She comes to TOWER with a solid background in both customer service and operations. Kathy's appointment reaffirms TOWER's commitment to delivering efficient and effective new business processing for advisers.

Matthew Banham is appointed Chief Underwriter for TOWER Health & Life. Matthew comes to TOWER from Sovereign where he was Risk Manager, Underwriting. His extensive underwriting experience includes some years with GE Frankona Re and Axa. His key responsibilities will include developing the underwriting team, building relationships with advisers and liaising with reinsurers.

TOWER Health & Life's Chief Executive Officer, Mr Steve Boomert, said, "I am very pleased to welcome such talented people to TOWER. We are committed to being the leading service provider in the adviser marketplace. The calibre of staff that we have coming on board at TOWER stands as testimony to our market commitment and that we are serious about delivering on our goals."

ENDS

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