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New Zealand Exchanges Limited Welcomes Macquarie Securities (New Zealand) Limited

Date 01/05/2006

New Zealand Exchange Limited (NZX) wishes to advise that Macquarie Securities (New Zealand) Limited (MAQA) will begin trading on the New Zealand markets as an accredited NZX Trading and Advising Firm, and Delivery and Settlement Participant, from Monday 1 May 2006.

Macquarie Securities (New Zealand) Limited will conduct the institutional business previously conducted by Macquarie Equities New Zealand Limited (MENW). Macquarie Equities New Zealand Limited will continue to conduct Macquarie's retail business.

“We are delighted to see Macquarie open their business up to separate retail and institutional branches,” said NZX Market and Client Services manager, Adrienne Quinn. “It shows that there is growing confidence and demand for high quality, specialised NZX Participant firms in our markets. Macquarie 's participation at this broader level adds another layer of investor choice, which is always good news.”