Telecom New Zealand appoints Russ Houlden as Chief Financial officer

Telecom New Zealand today announced that Russ Houlden has been appointed
as its chief financial officer, effective from 10 April 2008.

Mr Houlden has extensive experience working in senior international
financial leadership roles, including time at BT, one of Europe’s largest
telecommunications companies.

He was finance director at the commercial law firm Lovells from 2002 until
2008. Lovells is one of the largest international business legal
practices, with over three thousand people operating from 26 offices in
Europe, Asia and the United States. Previously he worked for BT, as
finance director of BT Wholesale - a group with 30,000 staff and capital
expenditure of around two billion pounds annually, and for ICI in Europe
and Japan.

CEO Paul Reynolds said Mr Houlden’s considerable industry transformation
experience and international perspectives would be a tremendous asset for
Telecom New Zealand in the era of operational separation.

“We are very fortunate to get someone of Russ’ calibre. He has played key
roles at the heart of successful transformations in the
telecommunications, chemicals and commercial law industries and has very
broad international experience. That will benefit Telecom New Zealand as
we embrace a new era of innovation, transparency, operational separation
and increased competition,” Dr Reynolds said.

“Russ will be a key member of the senior management team and I’m delighted
to have him come aboard at such an exciting time for Telecom New Zealand
and for the industry.”

Mr Houlden said he had followed Telecom New Zealand’s recent progress with
great interest, and is looking forward to the opportunities and challenges
of his new role.

“Telecom New Zealand faces many opportunities and challenges as a result
of volume growth, communications convergence, competition and operational
separation. I am keen to help to steer the group’s transformation for the
benefit of customers and shareholders.”

Mr Houlden will be based in Auckland and will lead finance teams located
across New Zealand and Australia.

ENDS

Contact:

Mark Watts, Head of External Media, +64 (0)272 504 018
or
Phil Love, Media Manager, +64 (0)272 448 496

CAREER HIGHLIGHTS:

Russ Houlden, BSc (Hons), FCMA, FCT
* 2002-2008 Finance Director, Lovells
* 2000-2002 Finance Director, BT Wholesale
* 1999-2000 Finance Director, BT Networks & Information Services
* 1994-1999 Finance Director, ICI Polyurethanes
* 1991-1994 Finance Director, ICI Japan
* 1989-1991 Head of Corporate Reporting, ICI Group