0001019155-02-000139 Sample Contracts

AND OWNERS AND HOLDERS OF AMERICAN DEPOSITARY RECEIPTS Third Amended and Restated Deposit Agreement Dated as of __________, 2002 THIRD AMENDED AND RESTATED DEPOSIT AGREEMENT
Deposit Agreement • December 23rd, 2002 • Telecom Corp of New Zealand LTD • Telephone communications (no radiotelephone) • New York

THIRD AMENDED AND RESTATED DEPOSIT AGREEMENT dated as of _________, 2002 among TELECOM CORPORATION OF NEW ZEALAND LIMITED, incorporated under the laws of New Zealand (herein called the Issuer), THE BANK OF NEW YORK, a New York banking corporation (herein called the Depositary), and all Owners and holders from time to time of American Depositary Receipts issued hereunder.

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IN CERTAIN CIRCUMSTANCES SHARES REPRESENTED BY THIS RECEIPT MAY BE SOLD WITHOUT THE CONSENT OF OWNERS. IN ADDITION THE RIGHT OF OWNERS OF RECEIPTS TO DIRECT THE VOTING OF SHARES MAY BE RESTRICTED AS DESCRIBED IN PARAGRAPH 9 BELOW. Exhibit A to Deposit...
American Depositary Receipt • December 23rd, 2002 • Telecom Corp of New Zealand LTD • Telephone communications (no radiotelephone)

The Bank of New York as depositary (hereinafter called the "Depositary"), hereby certifies that ____________________________________________________________, or registered assigns IS THE OWNER OF ___________________________________

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