Expeditors Int'l to be based at Auckland Airport

Auckland International Airport Limited (AIAL) today announced the signing of new commercial property deal. A $6 million office/warehouse building will be constructed for US-based logistics company Expeditors International. This building will become the second in the new north-airport development area alongside an office/warehouse for New Zealand Van Lines which was announced in late February.

AIAL will construct a 5,000 square metre warehouse and 400 square metre office facility for Expeditors. Construction will begin mid-2006, with completion expected in December this year. As with all AIAL commercial properties, the Expeditors building will be constructed with land available for expansion, giving the tenant the option of further growth.

AIAL general manager of property, Nick Ansley, says he is pleased that yet another new tenant is to join the airport community. “Bringing Expeditors to the airport is a further addition to AIAL’s investment property portfolio which will be developed with a commitment to high quality tenants in buildings of high quality construction.”

Expeditors International New Zealand head, Steven Webb, says "Expeditors is pleased to be entering into a long-term relationship with AIAL. We looked at a variety of proposals, and found potential for good synergy with AIAL. It is important to Expeditors that our suppliers are prepared to partner with us for a mutually beneficial arrangement; AIAL have come to the table with this ethos. We have no doubt that the arrangement with AIAL will serve to further enhance our operations within New Zealand."

Ansley says that these developments add to the growing number of businesses basing themselves at Auckland Airport. He says they benefit from the airport location, as well as the services located close by, including food and beverage, shopping, service stations and recreation facilities.

AIAL holds an investment portfolio of more than 40 properties at a value of over $172m as at

30 June 2005.

ENDS

Information for media:
Expeditors is a global logistics company headquartered in Seattle, USA. The company employs trained professionals in 166 full-service offices, 55 satellite locations and 5 international service centres located on six continents, linked into a seamless worldwide network through an integrated information management system. Services include air and ocean freight forwarding, vendor consolidation, customs clearance, marine insurance, distribution and other value-added international logistics services.

Expeditors has been operating in New Zealand since 1988.

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