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Orcon looks to purchase ihug

20 July 2006

Orcon looks to purchase ihug

Orcon Internet is excited about the potential to create a Kiwi-owned, number two player in the New Zealand telecommunications market through the acquisition of Australian-owned ihug.

Today's announcement from iinet that the ihug business is up for sale, follows months of talks between Orcon and iinet management about the future of their New Zealand operation.

"We have been actively pursuing a purchase of ihug for some time now. I'm pleased to see that the iinet board has taken on some of our proposals, and offered to place the business on the market." Says Orcon's General Manager of Operations and Regulatory Scott Bartlett. "ihug was a real New Zealand business success story before its ownership went offshore, this sale process gives us an opportunity to create a 100% Kiwi-owned telecommunications provider, with the scale and the resources to take on the foreign owned incumbents."

Orcon has grown from a garage based one-man-operation, to a full service telecommunications company; and like ihug has been active in the pursuit of better broadband for all New Zealanders. Combining these operations would give Orcon the scale to compete more effectively in the broadband market, as well as allow Orcon to leverage the regulatory changes recently announced by the Government.

"Scale in customer numbers and resource is an essential part of making LLU work, so by combining the number three and four players in the market we can deliver faster on the promises LLU holds for better broadband in New Zealand." Concluded Bartlett.

Orcon has sustained a high level of growth over the past 3 years to become NZ's 4th largest ISP. Previously known as a provider of wholesale internet
and business connections, Orcon has become a household name in New Zealand.

ENDS

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