Generic information to Approved Maori Investors

Tena koe,

FOMANA CAPITAL Limited reported to attendees at the Federation of Maori Authorities’ Annual General Meeting in Rotorua in November 2006 that we were in discussion with Hautaki Limited.
Hautaki Limited holds an equity interest in NZ Communications Limited (formerly known as Econet Wireless New Zealand Limited (EWNZ) on behalf of all Maori.

FOMANA CAPITAL Limited has been asked to inform Maori of the following opportunity.
- Hautaki Limited has an option to subscribe for a number of new ordinary NZ Communications' shares (Option Shares). Hautaki Limited wishes to offer the Option Shares to Maori investors1. Hautaki Limited will hold the Option Shares as custodian for Maori investors that invest.

The following information is publicly available and provides a summary of Hautaki Limited and NZ
Communications.
- In May 2000 the Crown announced it would allocate Maori a block of third generation (3G) radio frequency spectrum. The Crown also announced funding of $5 million.
- A charitable trust, Te Huarahi Tika Trust (also known as Maori Spectrum Trust) was established to receive the spectrum and the funding.
- Hautaki Trust was established in July 2000. The principal beneficiary of the Hautaki Trust is Te Huarahi Tika Trust.
- Hautaki Limited is the trustee of the Hautaki Trust.
- Hautaki Limited identified the Econet Group of South Africa as a commercial partner, and in 2001 they established EWNZ.
- In March 2007, two significant new investors purchased shares in EWNZ and renamed it NZ Communications Limited.

Maori investors that are interested in this opportunity can be informed of the criteria and process required on completion of a confidentiality agreement. It should be noted that Hautaki Limited has set a minimum subscription amount per investor of $1 million and the timeframe requires Maori investors to complete due diligence and make their investment decision by mid-July 2007.

FOMANA CAPITAL Limited is able to explain the processes required and criteria to Maori investors Furthermore, FOMANA CAPITAL Limited is planning to hold 5-6 information hui around the motu in the coming weeks. For more information contact the writers of this correspondence or keep a daily watch on the following website for updates:
Federation of Maori Authorities website: www.foma.co.nz

Yours sincerely.

Wayne Mulligan
Chief Executive, FOMANA CAPITAL Limited

Paul Morgan
Managing Director, FOMANA CAPITAL Limited

Disclaimer: This information notice to Maori is provided by FOMANA CAPITAL Limited solely to inform Maori of the Option Shares opportunity. This notice does not promote or advocate the Option Shares opportunity. FOMANA CAPITAL Limited expressly confirms it shall not provide any warranties, nor make any representations as to the desirability or potential of the Options Shares or NZ Communications.

ENDS

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