another media release

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    Media Release - Monday, 4 August, 2003

    NESS extends superannuation administration contract with AAS

    KAZ Group Limited (KAZ) today announced its subsidiary, Australian Administration Services (AAS) has extended its contract with the NSW Electrical Superannuation Scheme (NESS) for a further five years. Under the agreement AAS will continue to deliver market leading superannuation administration solutions to NESS.

    NESS was established in 1987 with the commitment to providing a secure fund for the electrical and communications industry - keeping members informed of developments and legislative changes regarding member superannuation.

    James Tinslay, Fund Secretary of NESS expressed the reason why NESS renewed the administration contract with AAS. "At NESS, acting in the interests of our members is our foremost priority. Our strategy is to continue to grow as a fund, offering increased investment options and auxiliary benefits for our members and employers.

    "AAS has been our superannuation administrator since 1993 and we are excited by the opportunities which the renewal of this contract will bring to NESS. Since our partnership began, we have been more than happy with the service AAS has offered and it is for this reason we did not to go to tender.

    "AAS' service offerings have grown significantly over the years - enhancing its capability to manage the ongoing changes in superannuation legislation. This means we have been able to provide quality administration services to NESS members and employers and will continue to do so."

    Stuart Korchinski, Chief Executive Officer for AAS comments, "The extension of our administration contract with NESS strengthens our long-standing partnership and we are confident it will produce tangible benefits to NESS members and employers. We continue our commitment to provide to industry superannuation funds a service that allows them to realise and grow their business objectives. The decision by NESS also endorses AAS' commitment to the construction industry both in superannuation and redundancy trust administration."

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