OFFICE: TEL: Nick Olson Appointed Telecom CFO

25 Aug 2010 10:01 am

TEL 25/08/2010 OFFICE

REL: 1000 HRS Telecom Corporation of New Zealand Limited (NS)

OFFICE: TEL: Nick Olson Appointed Telecom CFO

MEDIA RELEASE

25 August, 2010

NICK OLSON APPOINTED TELECOM CFO

Telecom New Zealand has today announced that Nick Olson has been appointed as Chief Financial Officer, effective 1 October 2010.

Nick brings wide experience to the role. He has been with Telecom since 2002, first in the role of Treasurer, moving to General Manager Finance for four years, and most recently serving as Group Controller. He also served in an acting capacity as CFO in 2008.

"I am particularly delighted that Nick has been successful after a competitive international search. His appointment reflects positively on our efforts to develop talent within Telecom," said Paul Reynolds, Telecom CEO. "Nick brings intellect, drive and integrity to the role."

Nick Olson's background incorporates experience in finance, debt and equity capital markets, treasury and risk, mergers and acquisitions, performance management and financial reporting.

He has also been at the forefront of Telecom's Ultra-fast Broadband programme, playing a leading role in the development of Telecom's proposal to the government.

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For more information, please call:

Ian Bonnar, Telecom media relations, +64 (0)27 215 7564 End CA:00198793 For:TEL Type:OFFICE Time:2010-08-25:10:01:05

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