IPREDICT LTD
MEDIA RELEASE
9 November 2011
FOR IMMEDIATE RELEASE
www.ipredict.co.nz

iPredict: Will John Key Endorse John Banks?

New Zealand's online predictions market, iPredict, has today launched a new stock asking whether or not National Party leader John Key will endorse Act Party candidate John Banks for the Epsom electorate vote.

The stock can be traded at https://www.ipredict.co.nz/app.php?do=contract_detail&contract=KEY.BANKS

The CEO of iPredict, Matt Burgess, said that the result in the Epsom electorate had been highlighted by political journalists and commentators as potentially relevant to the form of the next New Zealand Government. Further, journalists and commentators have suggested that Epsom voters may be influenced by whether or not Mr Key announces or indicates an endorsement of Mr Banks.

Mr Burgess emphasised that traders in the new stock needed to be aware of the relative difficulty in defining the test for this contract, and that his decision on whether or not the terms of the contract were met would be strictly final, but his decision would be based on a number of tests outlined clearly in the contract.

"A 'cup of tea' between Mr Key and Mr Banks has been identified by the media and Mr Key himself as a clear endorsement," Mr Burgess said, "but we have also outlined a number of other ways in which an endorsement would be implemented."

These are:

a) footage to appear on TVNZ and/or TV3's 6pm news of John Key and John Banks having a cup of tea, coffee, beer or similar refreshment together at a cafe, restaurant or pub. The footage must have been taped within 24 hours of it being broadcast; and/or

b) John Key and John Banks appearing in some other joint event that is interpreted by the political editor or senior press gallery reporter from TVNZ and/or TV3 as representing an endorsement by Mr Key of Mr Banks for the Epsom electorate vote; and/or

c) John Key publicly announcing his endorsement or support for Mr Banks, whether they appear together or not, with this being is interpreted by the political editor or senior press gallery reporter from TVNZ and/or TV3 as representing an endorsement by Mr Key of Mr Banks for the Epsom electorate vote.

These tests would need to be met before election day.

Mr Burgess also said that the contract would immediately close at $0 if Mr Key or his representative expressly and definitively said that no meeting of the type that may satisfy the terms of the contract will occur before 26 November 2011 and there is no indication an endorsement by Mr Key has been made or may occur before the election.

iPredict is owned by Victoria University of Wellington. Details on the company and its stocks can be found at www.ipredict.co.nz

ENDS

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