TVNZ MEDIA RELEASE

Statement from Rick Ellis, CEO TVNZ

We acknowledge that details of the Hawkesby arbitration are now in the
public arena. That is what we sought.

TVNZ believes the details released today give greater balance in this issue
and contribute to a fuller understanding of the circumstances.

The next step is the appeal itself which, at this stage is set down for the
week commencing 13 March.

Ends