19 FEBRUARY 2008

NEW ZEALAND GAZETTE, No. 30

MATTERS RELATING TO THE PUBLICATION OF THE AUDITED FINANCIAL STATEMENTS
IN THE NEW ZEALAND GAZETTE

This audit report relates to the financial statements of Electra Limited Lines Business for the year ended 31 March 2007 that
have been published in the New Zealand Gazette. The New Zealand Gazette is required to publish hard copies of audited
financial statements and the related audit report of Electra Limited Lines Business for the year ended 31 March 2007, and to
include an electronic version of the published New Zealand Gazette on the New Zealand Gazette’s website.

We have not been engaged to report on the integrity of the financial statements of Electra Limited Lines Business that have
been published on the New Zealand Gazette’s website. We accept no responsibility for any changes that may have occurred
to the financial statements since they were initially signed and published.

This audit report refers only to the financial statements named above. If readers of this audit report are concerned with the
inherent risks arising from electronic data communication, they should refer to the original signed and published hard copy of
the audited financial statements and related audit report dated 8 February 2008 to confirm the information included in the
audited financial statements published in the New Zealand Gazette or on the New Zealand Gazette’s website.

Legislation in New Zealand governing the preparation and dissemination of financial information may differ from legislation in
other jurisdictions.

673

Deloitte.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been maintained by Electra Limited as far as appears
  from our examination of those records; and

• the financial statements referred to above;
  a) comply with generally accepted accounting practice; and
  b) give a true and fair view of the financial position of Electra Limited Lines Business’
  financial position as at 31 March 2007 and the results of its operations and cash
  flows for the year then ended; and
  c) comply with the Electricity (Information Disclosure) Requirements 2004.

Our audit was completed on 8 February 2008 and our unqualified opinion is expressed as at
that date.

G. R. Mitchell
DELOITTE
ON BEHALF OF THE AUDITOR-GENERAL
WELLINGTON, NEW ZEALAND

MATTERS RELATING TO THE PUBLICATION OF THE AUDITED FINANCIAL STATEMENTS
IN THE NEW ZEALAND GAZETTE

This audit report relates to the financial statements of Electra Limited Lines Business for the year ended 31 March 2007 that
have been published in the New Zealand Gazette. The New Zealand Gazette is required to publish hard copies of audited
financial statements and the related audit report of Electra Limited Lines Business for the year ended 31 March 2007, and to
include an electronic version of the published New Zealand Gazette on the New Zealand Gazette’s website.

We have not been engaged to report on the integrity of the financial statements of Electra Limited Lines Business that have
been published on the New Zealand Gazette’s website. We accept no responsibility for any changes that may have occurred
to the financial statements since they were initially signed and published.

This audit report refers only to the financial statements named above. If readers of this audit report are concerned with the
inherent risks arising from electronic data communication, they should refer to the original signed and published hard copy of
the audited financial statements and related audit report dated 8 February 2008 to confirm the information included in the
audited financial statements published in the New Zealand Gazette or on the New Zealand Gazette’s website.

Legislation in New Zealand governing the preparation and dissemination of financial information may differ from legislation in
other jurisdictions.