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Freightways - Mainfreight Strategic Relationship

Freightways - Mainfreight Strategic Relationship

AUCKLAND, 29 October 2004 – New Zealand’s leading express freight and transport companies, Freightways Limited and Mainfreight Limited today announced a strategic relationship between their two businesses. The benefits of this alliance are likely to be incremental over time.

Details of the strategic relationship are as follows:

The transition of Mainfreight's courier requirements to New Zealand Couriers effective from 1 November 2004. This includes all internal courier requirements and those of Mainfreight's logistics customers.

The forming of a total solution to the marketplace, combining the complementary services of Freightways’ express package brands of New Zealand Couriers, Post Haste Couriers, Castle Parcels and SUB60 with the services of Mainfreight’s Supply Chain brands.

The development and introduction of compatible technology solutions for customers of each company.

The opportunity to explore and develop efficiencies within each of the company's respective domestic networks.

Both Freightways and Mainfreight have developed significant expertise in their respective transport and courier networks and look forward to expanding this expertise together for the benefit of their customers. Both companies are listed on the NZX and have significant New Zealand shareholdings. This strategic relationship does not affect the ownership structure of either company.

ENDS

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