NEW ZEALAND GAZETTE

No. 93

Statement of Financial Position Disclosure (Schedule 1, Part 2)

| para | | 2000
| | | $
--|-------------------------------|----------:
1 | Current assets |
| (a) Cash and bank balances: | 200
| (b) Short-term investments: | 0
| (c) Inventories: | 0
| (d) Accounts receivable: | 2,165,457
| (e) Other current assets not | 10,919,517
| listed in (a) to (d): |
| (f) Total current assets | 13,085,174

| | 1999
| | $
|-------------------------------|----------:
| | 283,119
| | 0
| | 0
| | 1,741,324
| | 11,980,843
| | 14,005,286

2 | Fixed assets |
| (a) System fixed assets: | 72,731,474
| (b) Consumer billing and | 207,684
| information system assets:|
| (c) Motor vehicles: | 0
| (d) Office equipment: | 42,556
| (e) Land and buildings: | 4,739
| (f) Capital works under | 841,745
| construction: |
| (g) Other fixed assets not | 0
| listed in (a) to (f): |
| (h) Total fixed assets | 73,828,198

| | 70,836,319
| | 271,541
| | 0
| | 42,428
| | 20,743
| | 543,193
| | 102,452
| | 71,816,676

3 | Other tangible assets | 0
| not listed above |
| | 0

4 | Total tangible assets | 86,913,372
| | 65,821,962

5 | Intangible assets |
| (a) Goodwill: | 0
| (b) Other intangibles not | 0
| listed in (a) above: |
| (c) Total intangible assets| 0
| | 0

6 | Total assets | 86,913,372
| | 65,821,962

7 | Current liabilities |
| (a) Bank overdraft: | 102,056
| (b) Short-term borrowings: | 3,790,000
| (c) Payables and accruals: | 2,476,350
| (d) Provision for dividends | 0
| payable: |
| (e) Provision for income tax: | 584,000
| (f) Other current liabilities | 0
| not listed in (a) to (e): |
| (g) Total current liabilities| 6,952,406

| | 46,833
| | 2,310,000
| | 2,584,708
| | 0
| | 83,015
| | 0
| | 4,858,526

8 | Non-current liabilities |
| (a) Payables and accruals: | 0
| (b) Borrowings: | 5,110,000
| (c) Deferred tax: | 0
| (d) Other non-current | 0
| liabilities not listed in |
| (a) to (c): |
| (e) Total non-current | 5,110,000
| liabilities |

| | 0
| | 8,390,000
| | 0
| | 0
| | 8,390,000

9 | Equity |
| (a) Shareholders' equity: |
| (i) Share capital: | 23,217,980
| (ii) Retained earnings: | 16,775,889
| (iii) Reserves: | 34,857,397
| (iv) Total Shareholders' |
| equity: | 74,850,966
| (b) Minority interests in | 0
| subsidiaries: |
| (c) Total equity: | 74,850,966
| (d) Capital notes: | 0
| (e) Total capital funds: | 74,850,966

| | 23,217,980
| | 14,836,239
| | 34,519,217
| | 72,573,436
| | 0
| | 72,573,436
| | 0
| | 72,573,436

10| Total equity and liabilities| 86,913,372
| | 85,821,962