Four-year telecommunications deal w ANZ National

Gen-i secures significant four-year telecommunications deal with ANZ National Bank

New telecommunications infrastructure will provide technology and sustainability leadership advantages for the bank

Auckland, 12 May 2008 - ANZ National Bank and Gen-i, a Telecom New Zealand business, have signed a new agreement that extends their existing services and relationship to include a core telecommunications infrastructure upgrade.

The significant four year deal will deliver immediate benefits to the bank and help ANZ National achieve its business sustainability objectives over the next five years.

ANZ National is New Zealand's largest and most diverse financial services group, encompassing ANZ, The National Bank and UDC Finance.

ANZ National CEO Graham Hodges said, "This new infrastructure will provide financial benefits to ANZ National as well as deliver an innovative service infrastructure platform, driving greater agility, flexibility and competitive advantages for our business."

The agreement will deliver a new IP enabled telecommunications infrastructure that transitions the bank off ATM and Frame Relay technologies to new Multi Protocol Label Switching (MPLS) and IPtel services, and will provide significant annual cost savings to the bank.

The new agreement covers the provision of services including: core data centre; national, corporate and branch data and infrastructure services; IPtel and ATM money machine services; as well as extending other existing telecommunications services.

Paul Reynolds, Chief Executive of Telecom said, "This announcement reinforces Telecom New Zealand's position as a leading ICT provider within the Australasian market. It also demonstrates significant commitment and trust by ANZ National Bank, especially in an extremely competitive market place."

Mr Reynolds says, "One of the key reason's for Gen-i's success was its ability to take the time to understand the client's business and deliver an end-to-end ICT solution that will help ANZ National achieve its business objectives."

Rhoda Holmes, General Manager Gen-i said, "Over the last 12 months, we have listened intently to ANZ National, gained greater understanding and aligned our services to better meet their technology needs and strategic goals. We are delighted that this new agreement delivers greater commercial flexibility, financial benefits and improved responsiveness to further meet the needs of ANZ National."

Mrs Holmes said, "This agreement is the latest of a series of significant wins for our business and demonstrates clients preference for the Gen-i proposition. We provide innovative ICT solutions that deliver real business outcomes and build strong partnerships based on honesty, trust, relevance and leadership."

About Gen-i

Gen-i is at the forefront of helping clients take advantage of the convergence of technology and telecommunications, and the new opportunities this makes possible.

Gen-i works alongside its 3,300 corporate, government and business clients to deliver seamless and integrated ICT solutions. A member of the Telecom New Zealand Group, Gen-i achieves this with the support of 3,300 highly skilled people in 17 locations across New Zealand and Australia. For more information on Gen-i, visit www.gen-i.co.nz

ENDS

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