NZ Post joins the International Post Corporation

PRESS RELEASE

Issued by the International Post Corporation July 5, 2007
Release immediate

New Zealand Post joins the International Post Corporation

The International Post Corporation (IPC) is delighted to announce New Zealand Post as its 24th shareholding member.

New Zealand Post was a founder member in 1989 and its decision to rejoin now demonstrates its confidence in IPC strategic direction and services to members. It will strengthen IPC’s presence in the Asia-Pacific region where Australia Post is already a member.

Commenting on New Zealand Post’s return to the IPC community, its chief executive John Allen said: “For New Zealand Post, IPC is a natural partner as it heads towards being an industry organisation. We believe that IPC will provide us with an excellent platform to exchange and share ideas on key issues facing postal operators around the world.”

New Zealand Post fits the profile of IPC’s membership of major, commercially-oriented postal services. It is a competitive business that achieved a net after-tax profit of NZD 68.7 million (EUR 39.22 million USD 52.76 million) in its last financial year ended June 30 2006.

Welcoming IPC’s new member, IPC chief executive officer Hebert-Michael Zapf said: “New Zealand Post has been operating in a fully liberalised postal market since 1998 and has been corporatised since 1987. Its long experience of trading successfully in an environment of full competition will be of value to other members as they prepare for increasing liberalisation.”

As a shareholding member, New Zealand Post will participate in the development of IPC’s strategic business policy. Its chief executive, John Allen, will take part in high-level peer group discussions with fellow IPC member CEOs while senior New Zealand Post executives will be invited to participate in IPC networking and knowledge sharing events, such as the programme of Senior Executive Forums.

Ends

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