RELINT: TEL: Officer Initial Disclosure - Olson

30 Aug 2010 2:21 pm

TEL 30/08/2010 RELINT

REL: 1420 HRS Telecom Corporation of New Zealand Limited (NS)

RELINT: TEL: Officer Initial Disclosure - Olson

Initial Disclosure Notice Section 19T(1), Securities Markets Act 1988

A Details of director or officer Name of director or officer of public issuer: Nicholas Olson Name of public issuer: Telecom Corporation of New Zealand Limited Name of related body corporate (if applicable): Position held in public issuer: Officer

B Securities in public issuer or any related body corporate in which director or officer has relevant interest Number, class, and type of securities: 77,890 restricted shares

C Nature of relevant interest and name of registered holder Nature of relevant interest in securities: Beneficial interest in 77,890 restricted shares issued under the Restricted Share Scheme

Name of registered holder of securities: Nicholas John Olson

D Date on which obligation to make this disclosure arose: 25 August 2010

E Signature Signature of director or officer: Date of signature:

or

Signature of person authorised to sign on behalf of director or officer:

Date of signature: Name and title of authorised person: Craig Mulholland (Telecom Group Company Secretary) End CA:00199060 For:TEL Type:RELINT Time:2010-08-30:14:21:07

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