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Heartland The financial services group for NZers

‘Heartland’ The name for the financial services group for New Zealanders

29 April 2011 NZX and Media Release

Heartland will be the name for the NZX-listed financial services group controlled, managed and operated by New Zealanders for the benefit of New Zealanders. The decision on the Heartland name follows the successful $2.2 billion merger in January this year between MARAC, CBS Canterbury and Southern Cross Building Society.

It is intended from 1 June 2011 that Heartland New Zealand Limited will be the new name for Building Society Holdings Limited, and its principal operating subsidiary will be renamed from Combined Building Society to Heartland Building Society. The NZX ticker will change from BSH to HNZ.

Heartland New Zealand Limited Managing Director Jeff Greenslade said the choice of the Heartland name capped what had been a very successful merger of three like-minded businesses steeped in New Zealand history, who shared a common vision of servicing the financial needs of New Zealanders.

“The name Heartland fits with our long legacy of servicing urban and rural New Zealanders and their businesses – roots that go back to 1875. It also neatly portrays the core values of our financial services group and defines the drive and success of people and businesses closely associated with New Zealand’s economic strength. We want to be able to provide these people with a customer-focused offering that values a long-term partnership.”

“Heartland started out as our project name in the early stages of the merger process. We explored a number of alternative names over a nine month period before agreeing on Heartland, as it was a name that resonated in the minds of our customers, staff and with the media.”

Mr Greenslade said “we have been encouraged by the positive feedback and enquiry levels from both existing and potential customers – from small businesses in urban New Zealand to those in the rural sector. This profile fits with our Heartland proposition of being a niche and focused provider of banking1 and financial services for SMEs, the rural sector and the families that stand behind them – throughout New Zealand.”

The Heartland brand will be progressively rolled out across all the group’s operating divisions, beginning with Business and Rural (previously MARAC and Pyne Gould Rural respectively). The legacy brands of CBS Canterbury, Southern Cross and MARAC will continue in the meantime for Retail, Deposit and Consumer customers (Retail and Consumer divisions).

Customers will be able to access Heartland’s full range of services through its website

- Ends -

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