Telecom Annual Report

Telecom Corporation of New Zealand Limited's 2008 Annual Report is now
available on www.telecom.co.nz/abouttelecom/governanceattelecom

In accordance with the Companies Act 2003, Telecom will not be sending
shareholders a hard copy of the annual report this year unless they have
previously requested one. Shareholders may request a hard copy by completing
the form that will be sent to them in the next few days.

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