4 February 2002

MEDIA RELEASE

KIWIBANK REGISTRATION WELCOMED

The Chairman of Kiwibank, The Rt Hon Jim Bolger ONZ, has welcomed the announcement by the Reserve Bank of New Zealand that Kiwibank has received full registration.

Mr Bolger said the announcement had cleared the way for Kiwibank to launch its products and services and to release details of its opening plans.

"On Thursday we will be announcing the full range of Kiwibank accounts, interest rates and fees. This will be followed with our first openings planned for next week in Palmerston North and Hawkes Bay," Mr Bolger said.

Kiwibank intends operating a small number of branches in a pilot programme for six weeks before the full launch across the country in April and May.

"We have been through a rigorous two-month trial of Kiwibank's systems and procedures. Now we are nearly ready to open our doors and bring Kiwibank services to our customers," Mr Bolger said.

ENDS

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