DREAMTIME CONTRACT CANCELLED EARLIER THIS YEAR

Te Mangai Paho Chairman Wira Gardiner said the contract Te Mangai Paho had with Dreamtime Productions Ltd for the Te Wero series was cancelled on 11 February 2003 and that TMP were in the process of recovering costs from the company.

Mr Gardiner said that TMP became aware, earlier this year that Dreamtime may not have been using the TMP funding for Te Wero appropriately, and accordingly cancelled their contract.

On cancelling the contract TMP wrote to Dreamtime stating that information had been brought to TMP's attention giving it good grounds to believe that the Te Wero production had incurred a cost over-run and that funds provided by TMP had not been used appropriately.

"A later Audit New Zealand report of 5 March 2003, also found irregularities in expenditure. However steps were already in train regarding the contract, including steps to recover assets," said Mr Gardiner.

Mr Gardiner said TMP was seeking to recover costs from Dreamtime regarding inappropriate spending and he expected the matter to be resolved in the near future.

The current Audit New Zealand audit will look at the processes regarding the allocation and monitoring of funding which will include Dream Time Productions Ltd.

ENDS

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