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Shareholders Re-Elect Chair, Pass All Resolutions

Telecom Shareholders Re-Elect Chairman Roderick Deane And Pass All Resolutions

6 October 2005

Telecom shareholders re-elected Chairman Roderick Deane at the company’s annual meeting in Christchurch today.

As well, Directors Paul Baines and Patsy Reddy were re-elected. All three, who were standing for re-election by rotation, were re-elected for a further term.

Chairman Roderick Deane thanked shareholders for endorsing the Board re-appointments, saying that he, Mr Baines and Ms Reddy were delighted at being able to continue to work on behalf of all shareholders.

“The Board is well balanced, having a broad range of skills, expertise and experience across a raft of fields,” Dr Deane said.

Approximately 165 shareholders, who attended the meeting held in Christchurch for the first time, were asked to vote on four resolutions.

Resolutions passed by shareholders today were:

* Authorising the directors to fix the remuneration of the Auditors

* Re-election of directors including Chairman Roderick Deane, Paul Baines and Patsy Reddy who were standing for re-election by rotation

The list of resolutions, along with the outcome of shareholder voting, is below:

Voting cards

For / Against / Total

Fix Auditors remuneration 1,044,269,860 / 1,883,229 / 1,046,153,089

Re-elect Roderick Deane 1,016,822,702 / 21,150,144 / 1,037,972,846

Re-elect Paul Baines 1,040,686,976 / 5,662,581 / 1,046,349,557

Re-elect Patsy Reddy 1,023,631,210 / 22,756,467 / 1,046,387,677

ENDS

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