Hanover Group Launches United Finance

Hanover Group Launches United Finance To Capture Technology Leasing Market

Hanover Group Limited, New Zealand's largest privately owned finance company has expanded its corporate portfolio with the launch of United Finance Limited.

The new investment company provides funding for Leasing Solutions Limited, another Hanover Group business subsidiary owning $120 million in leases and backed by more than a decade of proven experience in the leasing market.

United Finance offers clients the opportunity to invest in secured first ranking debenture stock that finances Leasing Solutions in the rapidly expanding office equipment and technology leasing markets.

Hanover Group CEO, Kerry Finnigan says the huge diversity of Leasing Solutions is a major benefit to investors.

"With 20,000 lease contracts involving 13,500 customers - our diverse investment strategy within the office equipment market offers stability and opportunities that will accelerate profit growth." United Finance will capitalise on Leasing Solutions' successful business partnerships with blue chip brands such as U-Bix, Cogent, Advantage and Kachingo® - New Zealand's largest customer loyalty programme.

On April 3rd United Finance rolls out a national advertising campaign promoting its initial term deposit product, the first of many highly competitive investment opportunities to be released.

The distinctively novel campaign features a senior citizen riding a Harley Davidson motorcycle promoting 8.48% interest based on a minimum $1000 two-year term deposit.

Mr Finnigan is confident of United Finance's enduring success as the management team is the same winning combination that helped Elders Finance achieve substantial growth over the past few years.

"At United Finance we believe investing is about simplicity, flexibility, information and customer service. Combine these elements with our highly experienced team and investors can expect secure, stable and rewarding investment returns."

ENDS

Background

UNITED FINANCE LIMITED

United Finance Limited is the investment arm of Leasing Solutions Limited, a privately owned New Zealand company established in 1990.

The company operates a substantial portfolio of leases in a diverse range of office technologies that are spread over a range of business types offering security, flexibility and the opportunity to capitalise on sectors that are identified as potentially strong.

HANOVER GROUP LIMITED

Hanover Group is the investment vehicle of Mark Hotchin and Cullen Investments. The company was launched in November last year and has more than 600 employees and assets worth over $750 million.

The group includes finance companies Elders Finance, Nationwide Finance, Leasing Solutions, Elders Home Loans, Hanover Securities, FAI Finance NZ, Australian Finance Direct, NZ Home Bonds and strategic investments; Cogent Communications and U-Bix.

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