TEL--research material

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Tuesday, May 21, 2002
5.50 New Zealand Dollar = 4.62781 Australian Dollar
5.50 Australian Dollar (AUD) = 6.53657 New Zealand Dollar (NZD)
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TELECOM CORPORATION OF NEW ZEALAND LIMIT 2001-05-23 ASX-SIGNAL-G
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HOMEX - Sydney
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+++++++++++++++++++++++++
MEDIA RELEASE
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Telecom New Zealand announced today that overnight it has entered
into arrangements to raise NZ$500 million in new equity through a
placement of 91 million new ordinary shares with institutional
investors in New Zealand, Australia and internationally.
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The Company has agreed to issue the new shares at a price of NZ$5.50per share. These shares will rank equally with existing Telecomshares.
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Chief Financial Officer Marko Bogoievski said Telecom has taken an
opportunity to raise new equity and strengthen its balance sheet.
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"This is a prudent course for the Company as we invest for growth,"
Mr Bogoievski said. ""A share placement of this type is currently the
most efficient means of strengthening our balance sheet and ensuring
Telecom has the financial flexibility to support its growth
strategies. The proceeds will be used to repay short-term debt."
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The shares in the placement have not been, and will not be,
registered under the United States Securities Act and may not be
offered or sold in the United States without registration or an
applicable exemption from registration requirements.
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Further information:
Martin Freeth
Telecom New Zealand
Tel: 64 4 498 9361
Mob: 025 242 0174
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TEL Telecom Corporation of New Zealand Ltd FPO

Total Trades Total Volume Last Trade V.W.A.P*
93 1,440,465 436 431.2
* Volume Weighted Average Price
Trade
Number (s) Time
Last Traded Price Volume Change Value Number
of Trades
93 4:15:33 pm 437 28,279 1 $123,579 1
92 4:05:04 pm 436 740 1 $3,226 1
90 - 91 3:58:09 pm 437 2,400 1 $10,488 2
87 - 89 3:50:20 pm 438 3,700 1 $16,206 3
84 - 86 3:42:31 pm 437 30,607 1 $133,753 3
82 - 83 3:36:49 pm 436 12,000 1 $52,320 2
81 3:33:28 pm 437 2,643 1 $11,550 1
78 - 80 3:24:20 pm 436 13,517 1 $58,934 3
77 3:07:36 pm 437 4,243 1 $18,542 1
76 3:04:38 pm 438 2,300 1 $10,074 1
74 - 75 3:04:13 pm 437 3,400 1 $14,858 2
73 2:45:39 pm 436 264 1 $1,151 1
72 2:44:09 pm 435 200 1 $870 1
67 - 71 2:43:15 pm 436 25,336 2.6 $110,465 5
66 2:06:46 pm 438.6 75,000 2.6 $328,977 1
61 - 65 2:06:17 pm 436 33,400 1 $145,624 5
57 - 60 1:34:28 pm 435 21,500 2 $93,525 4
55 - 56 1:25:31 pm 437 2,000 2 $8,740 2
53 - 54 1:17:45 pm 435 976 1 $4,246 2
52 12:42:36 pm 436 10,000 1 $43,600 1
51 12:27:39 pm 435 1,010 1 $4,394 1
49 - 50 12:24:24 pm 436 6,200 1 $27,032 2
29 - 48 12:24:09 pm 435 63,813 1 $277,587 20
26 - 28 11:54:08 am 434 22,180 2 $96,261 3
24 - 25 11:36:38 am 432 1,184 1 $5,115 2
21 - 23 11:23:56 am 433 30,900 1 $133,797 3
14 - 20 11:02:30 am 432 6,344 1 $27,406 7
11 - 13 10:36:58 am 431 23,752 1 $102,371 3
10 10:21:17 am 430 1,630 1 $7,009 1
8 - 9 10:12:07 am 429 2,204 1 $9,455 2
5 - 7 10:09:25 am 430 7,000 1 $30,100 3
2 - 4 10:08:49 am 429 1,743 0.3 $7,477 3
1 8:41:16 am 429.3 1,000,000 $4,293,100 1