Leasing Solutions Appoints New General Manager

Leasing Solutions Limited Appoints New General Manager

Leasing Solutions Limited, a member of Hanover Group of Companies, New Zealand's largest privately owned finance company today announced the appointment of Peter Marsh to lead Leasing Solutions management team in the newly formed role as General Manager.

Mr Marsh, a 20-year veteran of the finance industry will be responsible for the management of the company's $120 million portfolio of leases and 14,000 plus client base in the office equipment and technology leasing markets.

He will also oversee Leasing Solution's strategic alliances with key business partners: United Finance, U-Bix Document Solutions, Cogent Communications and Advantage.

Prior to attaining his latest promotion at Leasing Solutions Limited, Mr Marsh's career has spanned two decades in a variety of executive sales, marketing and managerial roles for the National Bank, Wrightsons and more recently, UDC Finance where he has held a national executive position since 1996.

"Leasing Solutions will truly benefit from Peter's leadership, strong analytical skills, comprehensive lending knowledge and client focus - qualities that will add real value to the business," says Hanover Group Chief Executive Officer, Kerry Finnigan.

Peter Marsh's appointment as General Manager takes effect from 13th May 2002.

ENDS

RELEASE PREPARED BY MARKOM PR LIMITED FOR HANOVER GROUP LIMITED

LEASING SOLUTIONS LIMITED Business subsidiary of Hanover Group, Leasing Solutions Limited specialises in financing the leasing of office equipment, technology and telecommunications.

Leasing Solutions owns a $120 million portfolio of leases in the office equipment and technology leasing markets. Over 20% of contracts are held with government departments, local bodies, schools and hospitals.

The Company operates over 20,000 lease contracts involving 14,000 customers and successful business partnerships with blue chip brands such as U-Bix Document Solutions, Cogent and Advantage.

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 Hanover Group of companies pursues a broad range of investment opportunities that are leveraged through the company's consolidated structure. This provides a diversified asset base and ensuing benefits for investors.

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

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