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Kiwi Icon To Deliver Christmas Cheer

Kiwi Icon To Deliver Christmas Cheer

Sales of Bonus Bonds are expected to rise by close to 300% by the end of December as a 'Grab a million' promotion gains momentum.

'Grab a million' will give anyone who purchases a $20 Bonus Bond or more during December entry into a draw to win a tax paid prize of $1,000,000. One purchaser will be asked to select one of 100 envelopes in the hope that it contains $1,000,000. The other 99 envelopes contain $10,000.

The draw is independent from the regular Bonus Bonds draw which pays over $5,000,000 to bondholders every month.

A similar promotion in March this year led to an unprecedented level of sales, up 270% on the monthly average.

ANZ Head of Consumer and Rural Markets Natalie Sutherland expects December 2002 to eclipse the earlier promotion.

"ANZ branches get thousands of customers through the doors in December looking to buy Bonus Bonds as gifts or for themselves. The chance to become a millionaire as well makes them even more attractive.

"Bonus Bonds are a uniquely Kiwi banking investment. The promotion underlines their unique properties as an investment option which contains the excitement of winning a lottery, but with the security that the funds can be withdrawn at any time."

Bonus Bonds Launched in 1970 and managed by ANZ Investments since 1990, Bonus Bonds is now New Zealand's largest unit trust, worth over $2.2 billion, with over 1 million bondholders.

ANZ Head of Consumer and Rural Markets Natalie Sutherland says that Bonus Bonds have major points of difference from other banking products.

"The investment returns are not distributed proportionally as with most unit trusts," she says. "Instead they are placed in a pool and distributed as prizes to those holders of Bonus Bonds that are selected, at random, in monthly prize draws."

Every month over 150,000 in cash prizes are paid out. The current monthly draw has three major prizes: 1st $300,000; 2nd $100,000; 3rd $50,000; and multiple prizes of $5000, $1000, $500, $100, $50, $20.

"Ease of access is another factor that makes Bonus Bonds such an attractive product for New Zealanders. The minimum starting investment is only $20 and they can bought from any ANZ branch, Postshop, Books and More store, and by phone and mail order."

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