TELECOM NEW ZEALAND LIMITED



                    SEALCORP TELECOMMUNICATIONS GROUP LIMITED



                          BROCKER INVESTMENTS LIMITED













                        AGREEMENT IN RESPECT OF CELLULAR
                          HANDSETS AND OTHER EQUIPMENT























                                     Telecom
                                   NEW ZEALAND


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                                    CONTENTS


1. DEFINITIONS                                                                 1

2. APPOINTMENT                                                                 4

3. TERM                                                                        5

4. FORECASTING QUANTITIES                                                      6

5. PURCHASE AND STORAGE OF EQUIPMENT                                           7

6. SALES OF EQUIPMENT                                                         11

7. ORDERS BY CUSTOMERS                                                        14

8. NOTIFICATION OF CUSTOMER ORDERS/ICMS                                       15

9. MEETINGS, REPORTING, SYSTEMS AND ACCESS TO INFORMATION AND AUDIT           16

10.  PAYMENT                                                                  18

11.  INTELLECTUAL PROPERTY PROTECTION                                         19

12.  FORCE MAJEURE                                                            20

13.  TERMINATION                                                              21

14.  GUARANTEE                                                                22

15.  CONFIDENTIALITY                                                          23

16.  NOTICES                                                                  24

17.  DISPUTE RESOLUTION                                                       24

18.  GENERAL                                                                  26

19.  CONDITION                                                                27


EXECUTION                                                                     28

SCHEDULE A DEALERS                                                            28

SCHEDULE B MANUFACTURERS                                                      47

SCHEDULE C QUALIFYING CRITERIA FOR MANUFACTURERS                              48

SCHEDULE D PERMITTED SERVICES TO MANUFACTURERS                                49

SCHEDULE E HANDLING FEES                                                      50

SCHEDULE F SERVICE LEVELS                                                     53

SCHEDULE G WEEKLY AND MONTHLY REPORTING REQUIREMENTS                          54


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AGREEMENT dated the                  day of                                 1997


PARTIES

           TELECOM NEW ZEALAND LIMITED ("Telecom")

           SEALCORP TELECOMMUNICATIONS GROUP LIMITED ("STG")

           BROCKER INVESTMENTS LIMITED ("Brocker")

INTRODUCTION

A.     Telecom currently buys cellular handsets and other equipment from a range
       of manufacturers, and on-sells such items to:


       (a)    various  dealers,  for sale by such dealers to their  customers in
              conjunction  with  a  cellular  airtime  or  other  communications
              package; and

       (b)    its customers generally, in conjunction with a cellular airtime or
              other communications package.

       Telecom  has  determined  that it no longer  wishes to be involved in the
       buying and selling of such cellular handsets and other equipment.

C.     Accordingly,  Telecom  has  appointed  STG,  and  STG has  accepted  that
       appointment,  to buy cellular  handsets and other  equipment as principal
       and on-sell those to both dealers and (in limited  circumstances) Telecom
       for on-sale to their respective customers.

D.     Brocker has agreed to guarantee the performance by STG of its obligations
       under this agreement.



AGREEMENT

1.     DEFINITIONS

1.1    Definitions: In this agreement, unless the context otherwise requires:

       "Annual Forecast" has the meaning given to that term in clause 4.1(b).

       "Confidential  Information"  means the information  referred to in clause
       15.1.

       "Customer"  means any person who is, or may become, a customer of Telecom
       in respect of the use of a  communications  package or solution  using an
       item of Equipment.

       "Dealers"  means the dealers  listed in Schedule  A,  together  with such
       other  dealers  nominated  in writing  from time to time by Telecom,  but
       excluding any dealers nominated in writing from time to time by Telecom.


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                                                                               2

"Equipment" means:

(a)    cellular  handsets  which are  suitable for use in  conjunction  with the
       Telecom Cellular Network ("Handsets");

(b)    such cellular  accessories which are suitable for use in conjunction with
       Handsets  as are  nominated  in  writing  by  Telecom  from  time to time
       ("Accessories");

(c)    such paging  equipment as is nominated in writing by Telecom from time to
       time ("Paging Equipment"); and

(d)    such other  equipment as is agreed  between  Telecom and STG from time to
       time ("Other Equipment").

"Force Majeure Event" means an event or occurrence:

(a)    which  is  beyond  Telecom1s  or STG's  (as the  case may be)  reasonable
       control (including,  without limitation, acts of God or the public enemy,
       flood, earthquake,  storm, cyclone, tornado, hurricane,  lightning, fire,
       explosion,   epidemic,  war,  embargoes,   riot  or  civil  disturbances,
       sabotage,  expropriation,  confiscation or  requisitioning of facilities,
       the imposition of disabling  exchange rate controls,  orders or temporary
       or  permanent  injunctions  of any duly  constituted  court of  competent
       jurisdiction); and

(b)    which  Telecom  or STG (as the case  may be)  could  not have  reasonably
       foreseen or taken reasonable measures to prevent,

but which  shall not  include  strikes,  lock-outs  or any other  form of labour
dispute.

"Forecast  Sales"  means,  in respect of each type of Equipment in each Quarter,
the aggregate forecast quantity of sales of such Equipment in each month in that
Quarter in the Annual  Forecast  prepared one month before the  commencement  of
that Quarter.

"GST" means goods and services tax payable  under the Goods and Services Tax Act
1985.

"Handling  Fee" means,  in respect of the  Forecast  Sales for  Handsets for any
month,  the handling fee  calculated in  accordance  with the formula set out in
Excel Spreadsheet  named  "Phone@l20K  Units" (an example of which is printed in
Schedule  E) for the  Quarter  in which that month  falls or,  where  clause 6.3
applies,  the adjusted  handling fee  calculated in accordance  with Schedule E.
Where no fee is set out in that  schedule  (such as in relation to  Accessories,
Paging Equipment and Other  Equipment),  the handling fees agreed by Telecom and
STG and recorded in writing shall apply (with each such  agreement  deemed to be
an amendment to Schedule E in accordance with clause 18.2).

"ICMS" means Telecom's Integrated Customer Management System.


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                                                                               3

"Intellectual  Property"  means,  in  respect of each of  Telecom  and STG,  all
intellectual and industrial property rights and interests  (including common law
rights and  interests)  owned or held by that party,  or  lawfully  used by that
party, including, without limitation:

(a)    patents,  trade marks,  service marks,  copyrights,  registered  designs,
       trade names, symbols and logos;

(b)    patent  applications  and  applications to register trade marks,  service
       marks and designs; and

(c)    all   formulae,   methods,   plans,   data,   drawings,   specifications,
       characteristics,    equipment,    designs,    inventions,    discoveries,
       improvements,  know-how,  experience,  software products,  trade secrets,
       price lists, costings, brochures and other information used by that party
       in the course of its business.

"Manufacturers" means the Equipment manufacturers listed in Schedule B, together
with such other Equipment manufacturers approved in writing from time to time by
Telecom who meet the  qualifying  criteria set out in Schedule C, but  excluding
any manufacturers nominated in writing from time to time by Telecom.

"Order  Quantity"  means,  in respect of each type of Equipment any month during
the Term,  the  quantity of that type of Equipment to be ordered by STG for that
month as determined in accordance with clause 4.4.

"Quartet"  means 1 April to 30 June,  1 July to 30  September,  1 October  to 31
December and to 1 January to 31 March.

"Related  Company"  has the  meaning  given to that term in section  2(3) of the
Companies Act 1993, and "Related Companies" has a corresponding meaning.

"Services"  means the  services to be provided by STG to Telecom,  and the other
obligations of STG, under this agreement.

"Term"  means  the term set out in  clause  3.1,  together  with any  formal  or
informal extension of term under either of clauses 3.2 or 3.3.

"Working  Day" has the meaning  given to that term in section 2 of the Companies
Act 1993.

1.2    Interpretation: In this agreement, unless the context otherwise requires:

       (a)    a  reference  to  the  "Services"  includes,   where  the  context
              requires, any part of the Services;

       (b)    a  reference  to "type of  Equipment"  is a  reference  to  either
              Handsets, Accessories, Paging Equipment or Other Equipment, as the
              context may require;

       (c)    words importing one gender include the other gender;

       (d)    the singular includes the plural and vice versa;


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                                                                               4

       (e)    headings   are  for   convenience   only  and  shall  not   affect
              interpretation;

       (f)    references to a month or a year are references to a calendar month
              or year, as the case may be;

       (g)    a reference to STG or Telecom is a reference  also to that party's
              executors,  administrators,  and  permitted  assigns or successors
              (including,  without  limitation,  upon an amalgamation  under the
              Companies Act 1993);

       (h)    a reference to a "persons includes an individual,  firm,  company,
              corporation  or  unincorporated  body of persons,  or any state or
              government  or any agency  thereof  (in each case,  whether or not
              having separate legal personality), and a reference to a "company"
              includes a person;

       (i)    references to sections,  clauses and  schedules are  references to
              sections,   clauses  and  schedules  of  this  agreement,   unless
              otherwise specifically stated; and

       (j)    references  to  any   legislation  or  to  any  provision  of  any
              legislation (including regulations and orders) includes:

              (i)    that legislation or provision as from time to time amended,
                     reenacted or substituted and, unless otherwise specifically
                     stated,  refers to New Zealand  legislation and provisions;
                     and

              (ii)   any statutory  instruments,  regulations  and orders issued
                     under any such legislation or provision.


2.     APPOINTMENT

2.1    Appointment:  Telecom appoints STG, and STG accepts that appointment,  to
       provide the Services,  on the terms contained in this agreement,  for the
       Term.

2.2    Exclusivity by STG: In  consideration  of Telecom  agreeing to enter into
       this  agreement,  STG agrees not to provide  the  Services,  or  services
       substantially  similar  to the  Services,  during  the Term in respect of
       Equipment  (or any  equipment  similar  to the  equipment  but  used on a
       communications  network other than the Telecom  Cellular  Network) to any
       person in New  Zealand,  other  than  Telecom or its  Related  Companies,
       provided  however  that  nothing in this  clause  shall  prevent STG from
       undertaking  any such  activities  on behalf of Cellnet  Mobile  Services
       Limited  or  its  Related  Companies,  while  such  companies  remain  in
       substantially the same ownership as at the date of this agreement.

2.3    Exclusivity by Telecom:  In  consideration  of STG agreeing to enter into
       this agreement,  Telecom agrees that neither it nor its Related Companies
       will, during the Term, buy and sell, or procure another person to buy and
       sell, Equipment, except:

       (a)    in accordance with this agreement; or


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                                                                               5

       (b)    in  accordance  with the  provisions  of the  "Preferred  Supplier
              Agreement" between Telecom and Motorola New Zealand Limited.


3.     TERM

3.1    Term:  Subject to earlier  termination in accordance with section 13, the
       term of this agreement shall be one year,  commencing on 10 November 1997
       and ending on 9 November 1998.

3.2    Renewal: The parties agree:

       (a)    to meet no later than two  months  prior to the expiry of the Term
              and discuss in good faith  whether they should  extend the term of
              this  agreement for a period beyond the Term and, if so, the terms
              and conditions of such extension;

       (b)    that,  in the  context  of such  discussions,  STG  shall  provide
              Telecom with full details of its  proposed  handling  fees for any
              extended term, together with all relevant supporting  information;
              and

       (c)    that any such  extension  shall be based on the principle that any
              efficiencies achieved, or any reductions in costs incurred, by STG
              during  the  Term  shall  be  shared  between  Telecom  and STG in
              determining  the  handling  fees  under  this  agreement  for  any
              extended  term. In seeking to reach  agreement  upon the manner in
              which the benefit of any  efficiencies  or any reductions in costs
              are to be shared between Telecom and STG, Telecom and STG shall:

              (i)    have regard to the respective contributions made by each of
                     Telecom and STG in  achieving  such  efficiencies  and cost
                     reductions;

              (ii)   seek to ensure that they share in any efficiencies and cost
                     reductions  resulting  from  general  industry  trends  and
                     technology improvements.

3.3    Month by month  extension:  If STG  continues  to provide the Services to
       Telecom  after  expiry of the Term,  without  the  agreement  having been
       formally extended under clause 3.2, then:

       (a)    this agreement  shall continue in accordance  with its terms until
              such time as one party gives at least one month's  written  notice
              of termination to the other,  with such notice to specify the date
              of termination;

       (b)    if this  agreement is ultimately  extended  under clause 3.2, then
              the handling  fees agreed for that  extension  shall,  if they are
              lower than the Handling Fees under this agreement, be backdated to
              the end of the Term,  and STG shall  forthwith  pay to Telecom the
              excess handling fees which have been charged by STG to Dealers.


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                                                                               6

4.     FORECASTING QUANTITIES

4.1    Forecasting methodology:  The parties agree the following arrangements in
       respect of determining the necessary purchases of Equipment by STG in any
       month during the Term:

       (a)    no later  than five  Working  Days  before  the end of each  month
              during the Term STG shall provide to Telecom:

              (i)    details of Equipment  sales in the previous  month together
                     with such other  information as may reasonably be requested
                     by Telecom to enable it to prepare a forecast  of  expected
                     Equipment  sales for each month of the twelve  month period
                     commencing  on the  first  day of the  month  which  is two
                     months after the month in which the information is provided
                     ("STG  Forecast  Information").   For  example,  where  STG
                     Forecast  Information  is being  provided in December,  the
                     first month of the forecast period will be February; and

              (ii)   a forecast of STG's  expected stock of Equipment on hand at
                     the beginning of the first month of the forecast period;

       (b)    Telecom shall  consider the STG Forecast  Information  in light of
              its knowledge of the Equipment  market and its  promotional  plans
              over the period of the forecast and shall, by the end of the month
              in which the Sealcorp Forecast Information is provided, provide to
              STG:

              (i)    a forecast of necessary  Equipment  sales and purchases for
                     each month of that twelve month period ("Annual Forecast");
                     and

              (ii)   details of the quantity of Equipment that it requires to be
                     ordered for the first month of the forecast  period (taking
                     into account the Annual  Forecast  and the  forecast  stock
                     levels  advised by  STG under clause 4.l(a)(ii)),  together
                     with  details  of the times at or by which it will  require
                     the orders to be placed by STG.

4.2    Detail of forecasts: In respect of:

       (a)    the first month of the Annual Forecast,  the Annual Forecast shall
              detail:

              (i)    the  quantity  of  Equipment  to  be  purchased  from  each
                     Manufacturer;

              (ii)   in respect of each  Manufacturer,  the  precise  models and
                     prices  of  the   Equipment  to  be  purchased   from  that
                     Manufacturer;

              (iii)  the times at which Telecom  requires that certain models of
                     Equipment be ordered from the relevant Manufacturer;


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                                                                               7

       (b)    the remaining months of the Annual Forecast,  such forecast shall,
              to the extent  reasonably and  practically  possible,  provide the
              level of detail provided under paragraph (a).

4.3    Forecasted Quantity:  The parties agree that the Annual Forecast shall be
       used as follows:

       (a)    the forecast for  Equipment  purchases  for the first month of the
              Annual  Forecast shall be used in  determining,  under clause 4.4,
              the Equipment  order that STG will be obliged to make under clause
              5.1;

       (b)    the forecast for Equipment  sales shall be used in determining the
              Forecast Sales for each Quarter; and

       (c)    the remaining  months of the Annual  Forecast shall be indicative,
              and for information purposes only.

4.4    Order Quantity:  Immediately upon receipt of the information  provided by
       Telecom  under clause  4.1(b),  STG shall send a signed notice to Telecom
       setting out the  Equipment  (in the detail  specified  in clause  4.2(a))
       which it believes  that it is required to purchase for the first month of
       the Annual Forecast period, and:

       (a)    if  Telecom  agrees  with the  details  of that  notice,  it shall
              promptly  countersign  it and  return  it to STG,  upon  which the
              details specified in that notice shall be the "Order Quantity" for
              the purposes of this agreement; or

       (b)    if Telecom  does not agree with the  details  of that  notice,  it
              shall notify STG of that fact and the parties  shall meet urgently
              and as many times as necessary to agree the Order Quantity for the
              relevant month, and record that agreement in writing.

4.5    Extended  or  contracted  forecast  period  for  certain  Equipment:  The
       forecast  methodology  recorded in clause 4.1 is based on the  assumption
       that a one month lead time is  required to procure  the  Equipment  which
       forms part of the Order Quantity.  If, however,  the procurement  time of
       particular  Equipment from a Manufacturer  is shorter or longer than that
       period of one month, then STG may (at all times acting reasonably) advise
       Telecom of the required  procurement  period,  and Telecom  shall use all
       reasonable  endeavours to provide the Order Quantity for that  particular
       Equipment  at a time which allows  procurement  by the time at which that
       Equipment is forecast to be required.

4.6    Forecast  only:  Each  party  acknowledges  and  agrees  that the  Annual
       Forecast to be provided under this section 4 is a forecast only, and that
       no liability attaches to any party in relation to the preparation of that
       forecast,  except where that party has acted  negligently or fraudulently
       in connection with such preparation.


5.     PURCHASE AND STORAGE OF EQUIPMENT

5.1    Purchase: For each month during the Term, STG shall purchase:


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                                                                               8

       (a)    the Order  Quantity  of  Handsets  and Paging  Equipment  for that
              month, so that such Handsets and Paging  Equipment are received as
              close to the time as is specified  in the Annual  Forecast for the
              relevant  items of Equipment,  but no earlier than two weeks prior
              to that required date; and

       (b)    such other  Handsets  and Paging  Equipment  as are  necessary  to
              satisfy the  Handsets and Paging  Equipment  orders of Dealers and
              Telecom,  so that such Handsets and Paging  Equipment are received
              as soon as is  reasonable  and  practicable  after the date of the
              order,  having regard to the  procurement  time of that  Equipment
              from the  relevant  Manufacturer.  All such  Handsets  and  Paging
              Equipment  purchases shall be first approved in writing by Telecom
              (which  shall  not   unreasonably   withhold  or  delay  any  such
              approval).

5.2    Manufacturer  contracts: In order to enable it to fulfill its obligations
       under clause 5.1, and to otherwise meet the Handsets and Paging Equipment
       requirements  of Dealers and  Customers,  STG shall  within two months of
       commencement  of the Term, and at all times  thereafter  during the Term,
       have an agreement for the purchase of Handsets and Paging  Equipment with
       each Manufacturer, which shall:

       (a)    authorise Telecom to negotiate as STG's agent, but in consultation
              with STG, the price of the Handsets and Paging Equipment purchased
              by STG from that Manufacturer;

       (b)    contain  a  provision  that  all  Handsets  and  Paging  Equipment
              purchased  by STG from  the  Manufacturer  shall  be at the  price
              agreed between Telecom and the Manufacturer;

       (c)    contain a provision that the Manufacturer will only make available
              to STG Handsets and Paging  Equipment  which have been approved by
              Telecom for supply to STG; and

       (d)    contain a provision  authorising  STG to cancel an order from that
              Manufacturer which has not been delivered to STG within 10 Working
              Days of the due date for delivery,

       with all remaining terms to be agreed by STG with the Manufacturer.

5.3    Cancellation of orders:  Where Telecom has approved an order of Equipment
       (whether as part of an Order  Quantity or otherwise)  and that  Equipment
       has not been  delivered  by the relevant  Manufacturer  within 10 Working
       Days of the due date for delivery,  then STG shall, if requested to do so
       by Telecom in writing, cancel that order in accordance with the provision
       referred to in clause 5.2(d).

5.4    Storage:  During the Term, STG agrees to store all Equipment purchased by
       it in a secure,  waterproof and otherwise  appropriate  storage  facility
       until such time as it is to be delivered to a Dealer, and, in undertaking
       such  storage,  STG agrees to  exercise  the degree of skill,  diligence,
       prudence and foresight which would  reasonably be expected from a skilled
       and experienced operator engaged in the same type of undertaking.


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                                                                               9

5.5    Insurance:  During the Term, STG agrees to effect and maintain  insurance
       over the  Equipment  which is sufficient to fully replace the quantity of
       Equipment which is stored at STG's storage facility at any given time.

5.6    Storage fee: If any item of Equipment purchased pursuant to clause 5.1 or
       clause 5.8 (other than any damaged  item of  Equipment  not being held by
       STG at the request of  Telecom)  has not been sold to a Dealer or Telecom
       and is,  accordingly,  still  being  stored  by STG 90 days  after it was
       delivered  to STG  from a  Manufacturer  or,  where  such  Equipment  is
       delivered  to STG more than two weeks prior to the month for which it was
       ordered,  is still being stored by STG 3 months after the commencement of
       that two week period,  then Telecom  shall pay to STG a storage fee equal
       to:

       (a)    2% (plus GST) of the  purchase  price of that  Equipment  per full
              month  of  further  storage,  for the  next 3  months  of  further
              storage,  or a pro rata  amount  for each  part  month of  further
              storage up to the relevant 3 months;

       (b)    3% (plus GST) of the  purchase  price of that  Equipment  per full
              month of further storage thereafter, or a pro rata amount for each
              part month thereafter,

       by the 20th of the  month  following  the  month in  which  STG  provides
       Telecom with an invoice for such amounts.

5.7    Warranty:  Telecom warrants that all Equipment  purchased by STG pursuant
       to clause 5.1 will be sold  pursuant  to section 6 or section 7 within 12
       months of the date of  delivery  of the  relevant  Equipment  to STG by a
       Manufacturer.  If this  warranty  is  breached,  then the  parties  shall
       consult on, and attempt to agree upon, the appropriate outcome,  provided
       always  that if the  parties  have not been  able to so agree  within  20
       Working Days of the breach arising:

       (a)    Telecom shall  purchase such  Equipment from STG for a price equal
              to the purchase price of such Equipment by STG, plus GST;

       (b)    STG  shall  continue  to  store  such  Equipment,  at its risk and
              covered  by its  insurance,  for such  period as is  specified  by
              Telecom,  and Telecom  shall pay the  storage  fee  referred to in
              clause 5.6; and

       (c)    the parties shall consult on the  appropriate  manner of disposing
              of the Equipment, and agree that any proceeds of sale shall belong
              to Telecom.

5.8    Purchase of current Equipment inventory:  Telecom agrees to sell, and STG
       agrees to purchase, all Equipment owned by Telecom as at the commencement
       date of this  agreement  (excluding  all Equipment  which Telecom  either
       wishes to retain or which  Telecom  and STG agree is  obsolete as at that
       date), on the following basis:

       (a)    such   Equipment  may  be  sold  and  purchased  in  one  or  more
              installments! shipments;


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                                                                              10

       (b)    at or about  the date of sale and  purchase,  and at any  relevant
              subsequent  date,  Telecom  shall  provide  STG  with  a  list  of
              Equipment which it wishes to sell under this clause, and STG shall
              as soon as  practicable  thereafter  review  that list and  notify
              Telecom  in  writing  of any items on the list which it regards as
              obsolete. If any such items are so notified,  then Telecom and STG
              shall  (acting in good faith) agree which of those items are to be
              deleted from the list.  Once the list of Equipment  being sold and
              purchased  under this  clause is agreed,  each of Telecom  and STG
              shall  initial  each  page  of  that  list  for  the  purposes  of
              identification;

       (c)    the purchase price for each model of each type of Equipment  shall
              be equal to the price of that model as advised  by  Telecom,  plus
              GST;

       (d)    Telecom shall deliver that Equipment,  and an appropriate invoice,
              to STG  either  before,  or as  soon  as  practicable  after,  the
              commencement  date of this agreement  specified in clause 3.1 and,
              upon such delivery, title and risk in that Equipment shall pass to
              STG;

       (e)    STG shall pay for each  installment  of that  Equipment  within 60
              days of receipt of an appropriate invoice from Telecom; and

       (f)    Telecom  warrants  that that  Equipment  will be  sold to STG free
              from all  liens,  encumbrances,  charges,  mortgages  and  adverse
              interests of any nature whatsoever.

5.9    Warranties:  The parties agree the following  arrangements in relation to
       any Equipment  sold by one party to the other under any provision of this
       agreement:

       (a)    with  effect  from  the time of sale the  vendor  of the  relevant
              Equipment  assigns (to the extent permitted by law) the benefit of
              all of its rights  (including  contractual  rights and warranties)
              against third parties in respect of the Equipment; and

       (b)    to the extent that any such rights are not assignable,  the vendor
              of the  Equipment  shall  hold such  rights in trust for the other
              party,  and that other  party  will be  entitled  to enforce  such
              rights in the name of the vendor.

5.10   Services  provided to  Manufacturers:  STG shall be  permitted to perform
       those services  specified in Schedule D for Manufacturers and, if it does
       provide  any of such  services  to any  Manufacturer,  then they shall be
       provided  at a price no greater  than that set out in  Schedule D, unless
       otherwise agreed in writing by Telecom (with any such agreement not to be
       unreasonably withheld or delayed).

5.11   Neutrality and confidentiality: STG agrees:

       (a)    to deal with all  Manufacturers  equally,  and not to  favour  any
              Manufacturer  over any other, in any way, in any dealings with the
              Manufacturers  (provided  always that nothing in this clause shall
              oblige STG to purchase  equal  quantities  of Equipment  from each
              Manufacturer);


<PAGE>

                                                                              11

       (b)    not to permit any  conflict of  interest to arise  between its own
              interests  and  those of the  Manufacturers  generally,  which may
              result in a breach of paragraph (a) of this clause; and

       (c)    to not disclose any information  provided to STG by a Manufacturer
              to any other  Manufacturer,  except with the prior written consent
              of the Manufacturer who provided the information.


6.     SALES OF EQUIPMENT

6.1    Supply  of  Equipment  to  Dealers:  STG  agrees  to use  all  reasonable
       endeavours to supply Dealers with all of their  requirements of Equipment
       in each month during the Term, pursuant to the dealer agreements referred
       to in clause 6.4 below.

6.2    Price of supply:  In each Quarter  during the Term,  STG agrees to supply
       each item of each type of  Equipment to Dealers at a price which does not
       exceed the aggregate of:

       (a)    the   purchase   price  of  that   Equipment   from  the  relevant
              Manufacturer,  as  determined  on the basis  referred to in clause
              5.2, or from Telecom under clause 5.7, as the case may be;

       (b)    the Handling Fee for the Forecast  Sales of that type of Equipment
              for that Quarter; and

       (c)    a percentage mark-up on the amount referred to in paragraph (a) to
              reflect the working  capital costs incurred by STG as a result of
              the  payment  terms of any  Manufacturer,  on the basis set out in
              Schedule E,


       together with GST on that aggregate amount.

6.3    Adjustment to price of supply: If, in any Quarter, the actual quantity of
       Equipment sold by STG to Dealers and Customers in that Quarter:

       (a)    exceeds the  Forecast  Sales for that  Quarter,  then the Handling
              Fees payable in each month of the next Quarter shall be reduced in
              accordance with the formula set out in Schedule E; or

       (b)    is less  than  the  Forecast  Sales  for  that  Quarter,  then the
              Handling  Fees payable in each month of the next Quarter  shall be
              increased in accordance with the formula set out in Schedule E.

6.4    Dealer agreements: In order to enable it to fulfill its obligations under
       clause 6.1, and to meet the Equipment  requirements of Dealers, STG shall
       at all times during the Term have an  agreement  with each Dealer for the
       sale of  Equipment  to that  Dealer,  which shall  include the  following
       terms:

       (a)    a provision authorising Telecom to deduct from any amounts payable
              by Telecom to the Dealer under any agreement between those parties


<PAGE>

                                                                              12

       any  amounts  due for  payment  by the  Dealer to STG  under  the  dealer
       agreement, which have not yet been paid; and

       (b)    a provision  that the Dealer will be  responsible  for meeting the
              costs of all urgent or special  orders of  Equipment  made by that
              Dealer, and that Dealers outside Auckland will meet the additional
              costs of same day delivery as opposed to next day delivery,

       with all remaining terms to be agreed by STG and the Dealer.

6.5    Delivery  requirement:  STG shall  deliver,  with each item of Equipment,
       such  additional  materials as are required by Telecom or a Manufacturer,
       and  notified  to STG in writing  from time to time  (including,  without
       limitation,   manuals,  network  connection  agreements,   and  Equipment
       instructions).

6.6    Dealer credit limits:

       (a)    STG  agrees to impose on each  Dealer a credit  limit of an amount
              specified by Telecom from time to time,  and agrees not to allow a
              Dealer's debt to STG to exceed that limit at any time;

       (b)    Telecom agrees to notify STG promptly of any changes in the credit
              limit of any Dealer,  and such  changed  credit  limit shall apply
              from the  date of  notification,  or from  such  other  date as is
              specified by Telecom; and

       (c)    STG shall be  responsible  for notifying each Dealer of its credit
              limit,  and agrees to notify (in writing) any Dealer of any change
              in its credit  limit,  forthwith  after  receipt of notice of such
              change from Telecom.

6.7    Dealer debts:

       (a)    STG agrees to use all reasonable  endeavours  during and after the
              Term to collect all  amounts  payable by each Dealer in respect of
              Equipment sold by STG to that Dealer;

       (b)    if any Dealer defaults in any payment due to STO in respect of any
              Equipment sold by TG to that Dealer, then:

              (i)    STG shall provide Telecom with full details of that default
                     by the 10th day of the  month  after the month in which the
                     default occurs;

              (ii)   If STG has  provided  such details to Telecom by such date,
                     Telecom shall, on the 15th day of the month after the month
                     in which the default  occurs,  deduct the amount in respect
                     of which that Dealer is in default from amounts  payable by
                     Telecom to that Dealer,  and shall pay the amount  deducted
                     to STG within 10 Working Days of the deduction,

       provided always that if a Dealer in default  subsequently  pays STG, then
       STG shall  forthwith  advise  Telecom of that fact, and refund to Telecom
       any  moneys  paid by  Telecom  to it in  respect  of the  default  by the
       relevant Dealer;


<PAGE>

                                                                              13

       (c)    if any Dealer is declared  bankrupt (in the case of an individual)
              or is placed in receivership,  liquidation or statutory management
              (in the case of a company) and STG is owed money by that Dealer in
              respect  of  Handsets  or  Paging  Equipment  sold  by STG to that
              Dealer, then:

              (i)    STG  shall  forthwith  notify  Telecom  of that  fact,  and
                     provide  Telecom  with full  details of the amount owing by
                     that Dealer;

              (ii)   Telecom  agrees to pay to STG an amount equal to the lesser
                     of that  amount  owing by, and the credit  limit for,  that
                     Dealer,  by  the  20th  day  of the  month  following  such
                     notification; and

              (iii)  all of STG's right and interest in the debt  represented by
                     the  amount  paid by  Telecom  under  paragraph  (ii) shall
                     immediately  upon  notification   under  paragraph  (i)  be
                     assigned  to  Telecom,  and  Telecom  shall be  entitled to
                     enforce and collect that debt to the exclusion of STG.

6.8    Service  levels:  STG  agrees to comply  with the Dealer  service  levels
       specified  in Part A of Schedule F in relation to the supply of Equipment
       to Dealers during the Term.

6.9    AlteratIons to service levels:  STG agrees that Telecom shall be entitled
       to alter the  service  level  requirements  in  Schedule  F to respond to
       demand  and/or  trends in the  Equipment,  cellular  and paging  markets,
       provided always that:

       (a)    no alteration shall be made unless STG has first been consulted on
              the  proposed   alteration,   and  has  been  given  a  reasonable
              opportunity to provide comments thereon;

       (b)    all alterations must be reasonable; and

       (c)    except as agreed by STG,  no  alteration  shall be made where that
              would result in STG incurring  materially higher costs in relation
              to the provision of the Services  having regard to the anticipated
              profit margins thereon.

6.10   Hours of  operation:  STG shall  operate an order  system for Dealers and
       Telecom:

       (a)    between  the hours of 7.30am and 6pm on every  Working  Day during
              the Term; and

       (b)    at other  reasonable  times  during the Term as are  specified  by
              Telecom in relation to any  promotional  activity in which Telecom
              proposes to engage in relation to the sale of Equipment,  the sale
              of  airtime on the  Telecom  Cellular  Network  and/or the sale of
              other communications services to end users,

       and Telecom acknowledges that STG may also introduce an Internet ordering
       service during the Term.


<PAGE>

                                                                              14

7.     ORDERS BY CUSTOMERS

7.1    Sales of Equipment to Customers through Telecom:  The parties acknowledge
       that  Customers  order  Equipment  from  Telecom  (rather  than through a
       Dealer) by calling a Telecom  customer  service  number  such as "123" of
       "126",  or by otherwise  contacting  Telecom,  and the parties  agree the
       arrangements recorded in this section 7 in relation to such orders.

7.2    Notification:  As soon as  practicable  after  receipt of an order from a
       Customer, Telecom will notify STG of the order in accordance with section
       8, and such notification shall include details of:

       (a)    the order number for the order;

       (b)    the name of the Customer;

       (c)    the delivery address for the Customer;

       (d)    specific details of the Equipment ordered by the Customer; and

       (e)    any special  conditions  of supply of Equipment  to the  Customer,
              including any non-standard delivery times or requirements.

7.3    Delivery/service  requirements:  Following receipt of the notice referred
       to in clause 7.2, STG shall,  as agent for Telecom,  deliver the relevant
       Equipment to the Customer within the time specified in Part B of Schedule
       F, and shall otherwise comply with the other service requirements of Part
       B of Schedule F.

7.4    Price and payment:  STG shall sell to Telecom all Equipment  delivered to
       Customers as Telecom's agent, and Telecom shall:

       (a)    where that Equipment is delivered by the time required by Schedule
              F,  purchase  such  Equipment  from STG for a price  determined in
              accordance with clause 6.2; or

       (b)    where that  Equipment  is not  delivered  by the time  required by
              Schedule F,  purchase  such  Equipment  for the  aggregate  of the
              amounts in clause  6.2(a) and clause  6.2(c),  to the intent  that
              Telecom  shall  not  pay  any  Handling  Fee in  respect  of  such
              Equipment; and

       (c)    pay for such  Equipment  within 10  Working  Days of receipt of an
              invoice from STG.

7.5    Returns by Customers: If any Customer returns any Equipment for any valid
       reason (including under the Consumer Guarantees Act 1993), then STG shall
       inspect that Equipment, and:

       (a)    if that  Equipment is complete and in the condition that it was in
              when  it was  provided  to the  Customer  (other  than by way of a
              broken package seal), then STG shall place such item back into its
              stock  of  Equipment,  and  credit  the  purchase  price  of  that
              Equipment to Telecom;


<PAGE>

                                                                              15

       (b)    if that  Equipment  is not  complete  or is  otherwise  not in the
              condition that it was in when provided to the Customer,  STG shall
              advise  Telecom of that fact and Telecom and STG shall  consult on
              the appropriate course of action,

       and, in both cases,  Telecom shall pay to STG an inspection  and handling
       fee of $7.25 per item of  Equipment  where the seal on the  packaging  of
       that  Equipment is  unbroken,  or $10.00 per such item when that seal has
       been broken by the Customer.


8.     NOTIFICATION OF CUSTOMER ORDERS/ICMS

8.1    Manual  notification:  Telecom shall (at its option) notify STG of orders
       by Customers by means of facsimile,  e-mail or, if STG has access to ICMS
       under this section 8, ICMS,  during the working hours specified in clause
       6.10 (provided that if any notification is given before 7:30am on any day
       of  operation  it shall it shall be  deemed to be given at 7.30am on that
       day or, if it is given on a day other than a day of operation or is given
       after  6:00pm on any day, it shall be deemed to be given at 7:30am on the
       next day of  operation).  Telecom will use its  reasonable  endeavours to
       comply with any reasonable request of STG in respect of the format of the
       notification.

8.2    ICMS notification:  Telecom may (but shall not be obliged to) provide STG
       with an ICMS terminal and access to ICMS for the purposes of notification
       of Customer orders and, if that occurs:

       (a)    Telecom will be solely  responsible,  at its cost,  for installing
              and  maintaining the ICMS terminal and the data link to allow that
              terminal to be used;

       (b)    Telecom reserves the right to remove the ICMS terminal,  and STG's
              access to ICMS,  at any time,  and shall be  entitled to have full
              access to STG's premises to do that;

       (c)    ownership of the ICMS terminal and data link, and all  information
              stored in, or forming  part of  (including  all  software),  ICMS,
              shall at all times remain the property of Telecom;

       (d)    the ICMS terminal shall be at STG's sole risk while located at its
              premises; and

       (e)    STG shall  follow all  requirements  of Telecom in relation to the
              use of the ICMS terminal/data link and of ICMS, including (without
              limitation) those requirements set out in clause 8.3.

8.3    ICMS requirements:

       (a)    STG shall use ICMS for the sole  purpose  of  processing  Customer
              orders and will not use,  or allow any other  person to use,  ICMS
              for any other purpose whatsoever;

       (b)    STG shall only permit persons authorised by Telecom,  and who have
              an ICMS User ID Number issued to them by Telecom, to access ICMS;


<PAGE>

                                                                              16

       (c)    STG shall establish, implement and at all times adhere to security
              procedures  which are adequate to protect the ICMS terminal  /data
              link and ICMS, and all information  stored in, or forming part of,
              ICMS,  and  which  are  adequate  to  ensure  compliance  with its
              obligations under this section 8;

       (d)    STG  shall  ensure  that no data on ICMS is  copied  to any  other
              computer system,  and that no other computer system is at any time
              linked to or  interfaced  with ICMS,  without the prior consent of
              Telecom;

       (e)    STG shall  not,  and shall not allow any other  person to, use the
              ICMS  terminal/data  link  or ICMS to  gain  access  to any  other
              computer system linked to, or interfaced with, ICMS;

       (f)    STG shall not, and shall not allow any other person to, decompile,
              reverse  engineer or otherwise modify any software forming part of
              ICMS; and

       (k)    STG shall promptly notify Telecom of a breach of the  requirements
              of this  section  8,  investigate  the  cause of the  breach,  and
              promptly notify Telecom of the outcome of that investigation.

8.4    No  warranties:  STG  acknowledges  that Telecom  makes no  warranties or
       representations of any nature in relation to ICMS, the ICMS terminal/data
       link or the operation of, or the accuracy of any  information  stored in,
       such things.  Notwithstanding  anything hereinbefore  contained,  Telecom
       shall  adjust  any  payment   incorrectly  made  to  STG  to  the  extent
       appropriate  where STG  demonstrates  that it has  received an  incorrect
       payment on account of inaccuracies in data stored in or provided by ICMS.

8.5    Indemnity in relation to ICMS: STG shall  indemnify  Telecom  against all
       costs, claims,  damages,  demands,  expenses,  losses,  liabilities,  and
       proceedings  arising out of, or in connection  with, a breach by it or of
       its employees,  agents or other  representatives  of the  requirements of
       clauses 8.2 and 8.3.


9.     MEETINGS, REPORTING, SYSTEMS AND ACCESS TO INFORMATION AND AUDIT

9.1    Regular meetings:  Telecom and STG agree to meet regularly throughout the
       Term with  Manufacturers  and  Dealers to discuss  operational  and other
       matters  arising out of or in  connection  with the  purchase and sale of
       Equipment. In advance of each such meeting, each of Telecom and STG shall
       use its  reasonable  endeavours  to provide the other party with details,
       together  with  any  relevant  supporting  information,  of any  material
       matters which it wishes to discuss at the meeting.

9.2    Reporting: STG agrees to provide Telecom, at no cost to Telecom, with:

       (a)    a written report on a weekly basis which contains the  information
              specified in Schedule G;


<PAGE>

                                                                              17

       (b)    a written report on a monthly basis which contains the information
              specified in Schedule G; and

       (c)    such other reports as Telecom may  reasonably  request in relation
              to the Services and this  agreement,  and which STG is  reasonably
              able to provide  given the systems that it is required to maintain
              under clause 9.3,

9.3    Maintenance of systems:

       (a)    STG shall,  at all times  during the Term,  maintain  accurate and
              complete  inventory  and other  systems  to  monitor  all  matters
              associated with the Equipment,  including its ordering,  movement,
              delivery and sale; and

       (b)    all systems used by STG in connection  with this  agreement  which
              are, or use,  or include any  computer  program or  circuitry  are
              fully "Year 2000" and leap year compliant, and will at all times:

              (i)    function  accurately and without  interruption  despite any
                     change in date;

              (ii)   accommodate and accurately  calculate,  store,  and provide
                     output of, any date  information in millennium  (i.e.  four
                     digits) date values; and

              (iii)  accurately  communicate  centuries,  leap  years  and other
                     dates in data  exchange  with  other  software,  systems or
                     equipment (as applicable).

9.4    Access to  information:  STG agrees to provide Telecom and its authorised
       representatives  (including,  without limitation, its auditors) with full
       access to all of its business records relating to the Services and to its
       premises, at no cost, during normal working hours on any Working Day, for
       purposes  genuinely  related to the  provision  of the  Services and this
       agreement (and not for any other purpose).

9.5    Audit:

       (a)    STG shall have its auditors audit the information  provided by STG
              to  Telecom  in  respect  of those  items  appearing  in the Excel
              Spreadsheet  "Phones @ 120K Units",  a copy of which is set out in
              Schedule E above the heading  "(i) Unit Price to Telecom"  (except
              that in respect of those items from Fixed Cost to Total Invoice to
              Telecom inclusive,  only the totals in respect of such items shall
              be subject to audit) at the time at which  STG's  usual  financial
              audit is being  carried out, and such  auditors  shall  provide an
              audit report to Telecom on the accuracy of such information;

       (b)    If  Telecom  has  further  concerns  about  the  accuracy  of this
              information or other  information  provided by STG, it may discuss
              these concerns with STG's auditors;

       (c)    in addition, Telecom shall be entitled:


<PAGE>

                                                                              18

              (i)    to  require  that  STG's  auditors  conduct an audit on the
                     matters  referred  to in  paragraph  (a),  and/or any other
                     matters connected with this agreement, at any time; or

              (ii)   to have its own auditors  undertake an audit of the matters
                     referred  to in  paragraph  (a),  and/or any other  matters
                     connected with this agreement, at any time,

       in each case at Telecom's cost,  provided  however that if any such audit
       shows a material  discrepancy  in relation  to the subject  matter of the
       audit,  STG shall  forthwith  remedy that  discrepancy  and shall pay all
       costs associated with the audit.


10.    PAYMENT

10.1   Time of payment:  Each party  agrees to pay each  invoice  (with all such
       invoices to comply with the Goods and Services Tax Act 1985)  received by
       it from the other party by the relevant date  specified in this agreement
       or, if no such date is specified,  by the 20th of the month following the
       month in which the invoice was received (Due Date).

10.2   Method of payment:  Each party may, at its  election,  pay any invoice by
       either of the following methods:

       (a)    by cheque posted to the address specified in, or under, clause 16;
              or

       (b)    by  direct  payment  into a bank  account  nominated  by the other
              party, and notified in writing to the first party.

10.3   Disputes: Where either party raises any dispute in relation to an invoice
       submitted under this agreement ("disputed invoice"), then:

       (a)    that party must pay that part of the  disputed  invoice in respect
              of which no dispute exists, by the Due Date;

       (b)    in respect of that part of the disputed invoice which is disputed:

              (i)    if the  dispute is  resolved  at least five days before the
                     Due  Date,  then the  amount  agreed by the  parties  to be
                     payable, or determined under section 17 to be payable, must
                     be paid by the Due Date;

              (ii)   in all other cases,  the amount agreed by the parties to be
                     payable, or determined under section 17 to be payable, must
                     be paid  within  five  Working  Days of such  agreement  or
                     determination.

10.4   Disputes  where  invoice  already  paid:  If a party pays any  invoice in
       relation  to any month  notwithstanding  that it has  raised a dispute in
       respect of that invoice,  or if a dispute  arises in  connection  with an
       invoice after payment, then to the extent that the dispute is resolved in
       favour of the party who has paid the  invoice,  the amount which has been
       overpaid shall be deducted from the next invoice sent to that party after
       the dispute is resolved (or, if no such


<PAGE>

                                                                              19

       invoice  is being  provided  in the  month  following  resolution  of the
       dispute, then that amount shall be paid to the relevant party by the 20th
       day of the following month).


11.    INTELLECTUAL PROPERTY PROTECTION

11.1   Intellectual Property Ownership: All Intellectual Property which is owned
       by, or is proprietary  to, Telecom or STG shall at all times remain owned
       by, and be proprietary to, that party  exclusively,  notwithstanding  any
       other provision of this agreement. Nothing in this agreement confers on a
       party any right or interest  in, or licence to use (or permit or cause to
       be used) any of the other  party's  Intellectual  Property,  except  that
       other party will have a  non-exclusive  licence to use that  Intellectual
       Property to the extent  required to give  effect to this  agreement.  The
       licence  under  this  clause  will  expire  immediately  on the expiry or
       termination of this agreement.

11.2   Indemnity by STG: STG shall indemnify  Telecom and keep Telecom fully and
       effectively  indemnified  against  all  actions,   proceedings,   losses,
       liabilities,  damages, claims, demands, costs and expenses (including all
       legal costs and expenses on a solicitor and own client basis) suffered or
       incurred by Telecom arising out of, or in connection with, any claim that
       the provision by STG of the Services,  or the  undertaking  of any act by
       STG in  connection  with the Services or this  agreement,  infringes  the
       intellectual   property  rights  of  any  third  party  (a  "third  party
       intellectual property right claim").

11.3   Indemnity by Telecom:  Telecom shall indemnify STG and keep STG fully and
       effectively  indemnified  against  all  actions,   proceedings,   losses,
       liabilities,  damages, claims, demands, costs and expenses (including all
       legal costs and expenses on a solicitor and own client basis) suffered or
       incurred by STG arising out of, or in connection with, any claim that the
       performance by Telecom of any of its  obligations  under or in connection
       with this agreement  infringes the  intellectual  property  rights of any
       third party (also a "third party intellectual property right claim").

11.4   Procedure: The procedure for handling a third party intellectual property
       right claim shall be as follows:

       (a)    the party against whom the claim is made must promptly  notify the
              other party in writing of any allegations of infringement of which
              it has notice,  or becomes aware,  and must not make any admission
              or  purport to settle any such  claim  without  the other  party's
              prior written consent (which shall not be unreasonably withheld or
              delayed);

       (b)    the  party  against  whom the  claim is made  shall,  at the other
              party's  request  and  expense,  allow that other party to conduct
              and/or settle all negotiations  and litigation  resulting from any
              such claim,  provided always that the party against whom the claim
              is made shall be entitled to be  represented  at, and be consulted
              on, all such negotiations and litigation; and

       (c)    the party  against whom the claim is made must,  at the request of
              the  other  party,  afford  all  reasonable  assistance  with such
              negotiations  or  litigation,  and that other party must reimburse
              the party against


<PAGE>

                                                                              20

              whom the claim is made for its reasonable  staff costs in relation
              to the provision of such assistance,  together with any reasonable
              out of pocket  expenses  incurred  by the party  against  whom the
              claim is made in doing so.

11.5   Remedies: If at any time following the service of any court order on:

       (a)    STG preventing the provision of the Services by STG as a result of
              a third party  intellectual  property  right claim,  STG must,  if
              requested by Telecom:

              (i)    obtain the right to  continue  providing  the  Services  to
                     Telecom; or

              (ii)   modify the Services so that they become non-infringing,

       at STG's  election and at its own expense,  provided that STG must ensure
       that  the  remedy  does  not in any way  affect  the  performance  of the
       Services; or

       (b)    Telecom  preventing it from performing any obligation  under or in
              connection  with  this  agreement  as a  result  of a third  party
              intellectual property claim, Telecom must, if requested by STG:

              (i)    obtain the right to continue to perform that obligation; or

              (ii)   modify that obligation so that it becomes non-infringing,

       at Telecom's own election and at its own expense.


12.    FORCE MAJEURE

12.1   Force  Majeure  Event:   Notwithstanding  any  other  provision  of  this
       agreement,  neither  Telecom  nor STG shall be liable for any  failure or
       delay in complying with any  obligation  imposed on such party under this
       agreement (excluding any payment obligation) if:

       (a)    the failure or delay arises from, or in  connection  with, a Force
              Majeure Event;

       (b)    that party, on becoming aware of the Force Majeure Event, promptly
              notifies the other party in writing of the nature of, the expected
              duration of, and the obligation(s)  affected by, the Force Majeure
              Event; and

       (c)    that party uses its best endeavours to:

              (i)    mitigate  the  effects of the Force  Majeure  Event on that
                     party's obligations under this agreement;

              (ii)   perform that party's obligations in respect of the Services
                     which are not affected by the Force Majeure Event; and


<PAGE>

                                                                              21

              (iii)  perform that party's  obligations  under this  agreement on
                     time despite the Force Majeure Event.

12.2   Alternative Supply: If STG is unable to provide the Services due to or in
       connection  with a Force Majeure  Event,  Telecom may obtain the Services
       from another person, or undertake the Services itself,  until STG is able
       again to supply the Services.


13.    TERMINATION

13.1   Default: A party shall be in default under this agreement if:

       (a)    that party fails to pay any amount due under this agreement by the
              due date for payment, and fails to remedy that failure within five
              Working Days after receiving written notice (inclusive of the date
              of  receipt)  from the other  party  requiring  the  failure to be
              remedied;

       (b)    that party breaches, or fails to properly or promptly perform, any
              of its  obligations  (other than payment  obligations)  under this
              agreement  provided that in the case of an immaterial  breach, the
              non-defaulting   party  must  first  have  given   notice  to  the
              defaulting  party on no fewer than two prior  occasions  requiring
              remedy of other immaterial breaches;

       (c)    the primary,  or all, of the business activities of that party are
              suspended or cease for more than five consecutive Working Days;

       (d)    where that party is STG, it defaults  on any  material  obligation
              (including  a payment  or  confidentiality  obligation)  under any
              agreement or other arrangement with a Dealer or a Manufacturer;

       (e)    that party:

              (i)    goes  into  receivership  or has a  receiver,  trustee  and
                     manager (or either of them) (including a statutory manager)
                     appointed in respect of all or any of its property;

              (ii)   is unable to pay its debts as they fall due, or is presumed
                     to be  unable  to pay its  debts  as they  fall  due  under
                     section 287 of the Companies Act 1993; or

              (iii)  makes an  assignment  for the benefit of, or enters into or
                     makes any  arrangement or composition  with, its creditors;
                     or

       (f)    any  resolution  is passed or any  proceeding is commenced for the
              winding up or liquidation of that party (whether on a voluntary or
              involuntary basis).

13.2   General right to terminate:  Either party may  terminate  this  agreement
       immediately  by  written  notice to the  other if the  other  party is in
       default as specified in clause 13.1.


<PAGE>

                                                                              22

13.3   Right to terminate  for Force  Majeure  Events:  If a Force Majeure Event
       under section 12 continues  for more than 5 consecutive  Working Days, or
       for an  aggregate of 10 Working  Days in any six month  period,  then the
       party not  claiming  the  benefit  of the Force  Majeure  Event  shall be
       entitled to terminate this agreement.

13.4   Effect of termination:  When this agreement expires,  or is terminated in
       accordance with clause 3.3, 13.2 or 13.3:

       (a)    all further  obligations of each party under this agreement  shall
              cease'

       (b)    each  party  shall  return  to the other  party  all  Confidential
              Information received from the other party and held by it;

       (c)    STG shall sell, and Telecom shall purchase, all Equipment owned by
              STG at the date of  termination  which is, at the time of physical
              delivery to Telecom, free from defect, appropriately packaged, and
              in the  same  condition  as it was when  received  by STG from the
              relevant  Manufacturer  or Telecom (but  excluding  any  Equipment
              purchased by STG other than in accordance  with an Order  Quantity
              or another order  approved by Telecom).  Such  Equipment  shall be
              purchased  for a price equal to the  aggregate  purchase  price of
              that Equipment by STG from  Manufacturers  or Telecom (as the case
              may be),  plus GST  (excluding,  for the  avoidance of doubt,  any
              Handling  Fees and working  capital  charges  under  clause  6.2).
              Telecom  agrees  to pay that  price,  together  with  any  amounts
              accrued  under  clause  5.6 to the date of expiry or  termination,
              within 7 days of being  provided  (at STG's  cost)  with  physical
              possession of the  Equipment,  an invoice for the purchase  price,
              and  reasonable   evidence  supporting  the  purchase  price.  STG
              warrants that any  Equipment  sold under this clause shall be free
              from all  liens,  encumbrances,  charges,  mortgages  and  adverse
              interests of any nature  whatsoever  (and this  warranty  shall be
              deemed to be repeated on the date of sale under this clause);

       (d)    STG shall  provide  Telecom  with full  details of all orders from
              Dealers or Customers which have not, as at the date of termination
              or expiry, been fulfilled;

       (e)    STG  will  assist  Telecom  in  transiting  the  provision  of the
              Services to (at Telecom's  election) one of Telecom's own business
              groups,  one of Telecom's Related  Companies,  or to any person or
              persons nominated by Telecom; and

       (f)    expiry or termination shall be without prejudice to the rights and
              remedies of either party arising out of or in connection  with any
              breach  of  this  agreement   occurring   prior  to  the  date  of
              termination,  or to the rights of either  party which have accrued
              prior  to,  or which  arise  out of or in  connection  with,  such
              termination.


14.    GUARANTEE

14.1   Payment  and  Performance:   Brocker   unconditionally   and  irrevocably
       guarantees to Telecom the due and punctual payment by STG of all moneys


<PAGE>

                                                                              23

       from time to time  payable  by STG  under  this  agreement,  and the due,
       punctual and proper performance and observance by STG of all of its other
       obligations under this agreement.

14.2   Principal obligation: The liability of Brocker under this guarantee shall
       constitute a principal  obligation of Brocker,  and such liability  shall
       not be relieved or in any way affected in a manner prejudicial to Telecom
       by any granting of time,  waiver or forbearance to sue by Telecom,  or by
       other act,  omission,  matter,  circumstance  or law whereby Brocker as a
       surety only  would,  but for the  provisions  of this  clause,  have been
       released from liability.


15.    CONFIDENTIALITY

15.1   Obligation of  confidentiality:  Each party shall at all times (including
       after the  termination or expiry of this  agreement)  keep  confidential,
       treat as privileged,  and not directly or indirectly  make any disclosure
       or use, or allow any announcement, to be made of:

       (a)    the subject matter or any of the terms of this agreement; or

       (b)    any  information  directly or indirectly  obtained from that other
              party under or in connection with this agreement,

       except to the extent:

       (c)    required by law;

       (d)    that is necessary to satisfy the  requirements  of the New Zealand
              Stock  Exchange or any other stock exchange or trading market upon
              which the relevant party or any of its Related Companies is listed
              or quoted;

       (e)    necessary to obtain the benefit of, or to carry out any obligation
              under, this agreement; or

       (f)    that the information is or becomes  available in the public domain
              without  a breach  by a party of its  confidentiality  obligations
              under this clause or at law.

15.2   Compelled  disclosures:   If  any  party  is  required  to  disclose  any
       Confidential Information, that party shall:

       (a)    immediately  notify the other  party in writing so that it may (if
              it considers appropriate) seek a protective order or other remedy;

       (b)    only disclose information to the extent legally required; and

       (c)    use  its  reasonable   endeavours  to  obtain   undertakings  that
              confidential  treatment will be accorded to the information by the
              person to whom it is disclosed.


<PAGE>

                                                                              24

16.    NOTICES

16.1   Notices:  Every notice to be given under,  or in  connection  with,  this
       agreement shall be given in writing by:

       (a)    personal delivery;

       (b)    mailing by  pre-paid  registered  post,  in which case it shall be
              deemed to be given 2 Working  Days  after (but  exclusive  of) the
              date of mailing; or

       (c)    facsimile  transmission,  in which  case it shall be  deemed to be
              given at the time specified in the facsimile  transmission  report
              of the  facsimile  from  which  the  transmission  was made  which
              evidences  full  transmission,  free of errors,  to the  facsimile
              number of the party given  notice  unless that party  proves that,
              contrary to the transmission report, it was not transmitted, or it
              was not  transmitted  in a complete  and  legible  state,  to that
              party's facsimile,

       to the  addressees  specified  below or if a written  notice of change of
       address is given then to the new address:

       (a)    Sealcorp   Telecommunications  Group  Limited/Brocker  Investments
              Limited

              Full Address:   4 Bond Street
                              Grey Lynn
                              Auckland
              Phone:          09 376 7888
              Fax:            09 376 7887
              Contact person: Mike O'Brien, General Manager - STG/Telecom
                              liaison person

       (b)    Telecom New Zealand Limited

              Full Address:   Level 9
                              Telecom House
                              13-27 Manners  Street
                              Wellington
              Phone:          (04) 382 3240
              Fax:            (04) 385 1564
              Contact person: Graeme Harrington, Group Product Manager

16.2   Working  Days:  Notwithstanding  any other  provision  contained  in this
       clause,  any notice  given after 5 pm on a Working Day, or on a day which
       is not a  Working  Day,  shall be  deemed to be given at 9 am on the next
       Working Day.


17.    DISPUTE RESOLUTION

17.1   Disputes:  If  any  dispute  arises  between  the  parties  out  of or in
       connection with this agreement ("Dispute"),  either party may, by written
       notice  to the  other  party,  summon a  meeting  of the  parties  to the
       Dispute. The party claiming a Dispute shall, in its written notice to the
       other party or parties,  designate  as its  representative  to attend the
       meeting(s) a person with authority to settle the Dispute.  Each party who
       receives such written notice shall give


<PAGE>

                                                                              25

       notice to the other  parties  in  writing  within  five  Working  Days of
       receipt  designating  as its  representative  to attend the  meeting(s) a
       person with similar authority.

17.2   Negotiations:  The persons designated as authorised representatives shall
       meet  promptly  as many times as  necessary  to discuss the matter and to
       negotiate in good faith to resolve the Dispute.

17.3   Mediation:   If  the   Dispute  is  not   resolved   by  the   authorised
       representatives  within 10 Working  Days of a written  notice first being
       given by one party to the other or others  pursuant to clause  17.1,  the
       Dispute  shall be referred to the  mediation  of a single  mediator.  The
       referral to  mediation  shall be  commenced  by a party  serving  written
       notice on the other party or parties to the  Dispute  stating in full the
       subject  matter and details of the Dispute,  and requiring the Dispute to
       be  referred  to a mediator  to be  appointed  by  agreement  between the
       parties.  Failing agreement within five Working Days after, and exclusive
       of, the date of service of the  written  notice,  the  mediator  shall be
       appointed  at the  request  of a party by the  chairperson  or any  other
       office holder for the time being of the New Zealand  chapter of LEADR, or
       the nominee of such  chairperson or other office  holder.  The guidelines
       which shall govern the  mediation  shall be set by the  parties.  Failing
       agreement  on  the   guidelines   within  five  Working  Days  after  the
       appointment of the mediator,  a party may request the mediator to set the
       guidelines  which shall govern the  mediation.  The parties agree to then
       submit to the  mediation  and to act in good faith in that  mediation  in
       attempting to resolve the Dispute.

17.4   Arbitration:  Where no agreement  is reached  within 10 Working Days from
       the date of appointment  of the mediator,  any party to the Dispute shall
       be  entitled,  by notice in writing  to the other  party or  parties,  to
       require  the  Dispute to be finally  resolved  by  arbitration  under the
       Arbitration  Act 1996 by a sole  arbitrator  to be appointed by agreement
       between the parties or,  failing  agreement  within five  Working Days of
       receipt of that notice,  by the  President of the New Zealand Law Society
       or their  nominee.  The  decision  of the  arbitrator  shall be final and
       binding on the parties, and the costs of the arbitrator shall (subject to
       any award by the  arbitrator)  be borne  equally  by the  parties  to the
       Dispute.

17.5   Condition precedent:  Subject to any right any party may have to apply to
       a court for any interim or preliminary  relief in respect of the Dispute,
       completion or termination of the mediation shall be a condition precedent
       to the commencement of arbitration under clause 17.4.

17.6   Restrictions on use of information  obtained in course of negotiation and
       mediation:  The parties  acknowledge  that the purpose of any exchange of
       information  or  documents  or the  making  of any  offer  of  settlement
       pursuant  to clauses  17.2 or 17.3 is to  attempt  to settle the  Dispute
       between  the  parties.  No party  may use any  information  or  documents
       obtained  solely by reason of clauses 17.2 or 17.3 for any purpose  other
       than in an attempt to settle the Dispute.


<PAGE>

                                                                              26

18.1   GENERAL

18.1   Good faith:  The parties  shall act in good faith  towards  each other in
       respect of all dealings or matters  under,  or in connection  with,  this
       agreement.

18.2   Amendments:  This agreement may only be amended,  supplemented or novated
       in writing executed by all of the parties.

18.3   Costs:  Each  party  shall pay its own costs of,  and  incidental  to the
       negotiation,  preparation,  execution  and  enforcing  or  attempting  to
       enforce this agreement.

18.4   Further assurances:  Each party shall make all applications,  execute all
       documents and do all acts and things reasonably required to implement and
       to carry out its obligations under this agreement.

18.5   No  assignment:  No party shall be  entitled  to  directly or  indirectly
       (including  due to, or by way of, a change of  control  or  sub-contract)
       assign,  transfer  or  otherwise  dispose of any of its  rights  under or
       interest  in,  or any of its  obligations  or  liabilities  under,  or in
       connection with, or arising out of, this agreement, except with the prior
       written  consent  of  the  other  parties,  which  consent  shall  not be
       unreasonably or arbitrarily withheld or delayed.

18.6   Waiver:  Any delay,  failure or  forbearance  by a party to exercise  (in
       whole or in part) any  right,  power or remedy  under,  or in  connection
       with, this agreement  shall not operate as a waiver of such right,  power
       or remedy.  The waiver of any breach of any  provision of this  agreement
       shall not be effective  unless that waiver is in writing and is signed by
       the party  against  whom that wavier is  claimed.  A waiver of any breach
       shall not be,  or be  deemed  to be, a waiver of any other or  subsequent
       breach.

18.7   Full force: The provisions of this agreement and any act, matter or thing
       done under or in connection with this agreement or in connection with any
       other agreement, instrument, document, judgement or order of any court or
       in connection  with the expiry or earlier  termination  of this agreement
       shall not operate as a merger of any of the rights, powers or remedies of
       any of the parties  under,  or in connection  with,  this agreement or at
       law, and those rights,  powers and remedies shall survive and continue in
       full  force and  effect to the extent  that they are  unfulfilled  or not
       exhausted.

18.8   Entire agreement: This agreement constitutes (subject to any amendment in
       accordance  with clause  18.2) the entire  agreement,  understanding  and
       arrangement  (express  and implied)  between the parties  relating to the
       subject  matter of this agreement and supersedes and cancels any previous
       agreement,   understanding  and  arrangement  relating  thereto,  whether
       written or oral.

18.9   Counterpart  execution:  This  agreement may be executed in any number of
       counterparts (including facsimile copies) and, provided that both parties
       have executed a counterpart, the counterparts together shall constitute a
       binding and enforceable agreement between the parties.

18.10  Governing  law:  This  agreement  shall be governed by, and  construed in
       accordance with, the laws of New Zealand.


<PAGE>

                                                                              27

19.1   CONDITION

19.1   Condition:  This agreement is  conditional  upon a deed entitled "Deed in
       relation  to  "Preferred   Supplier  Agreement  in  respect  of  Cellular
       Handsets" being executed by Motorola New Zealand Limited.

19.2   Condition  subsequent:  The  condition  contained  in  clause  19.1  is a
       condition subsequent. If it is not fulfilled by 21 November 1997, each of
       the parties shall take all such actions as are reasonably  practicable to
       restore the parties to the  position  they were in  immediately  prior to
       execution of this agreement.

19.3   Notification: Telecom will notify STG of satisfaction of the condition in
       clause  19.1  promptly  following  execution  of  the  relevant  Deed  by
       Motorola.


<PAGE>

                                                                              28

[GRAPHIC OMITTED]


EXECUTION

          SIGNED by TELECOM NEW ZEALAND
          LIMITED by:


          /s/ M. Jesudason
          -----------------------------
          Signature


          M. Jesudason
          -----------------------------
          Name


          General Manager - Business
          -----------------------------
          Position




           SIGNED by SEALCORP
           TELECCOMMUNICATIONS GROUP
           LIMITED by:


          /s/ M. B. Ridgway
          -----------------------------
          Signature


          Michael Ridgway
          -----------------------------
          Name


          Managing Director
          -----------------------------
          Position




          SIGNED by BROCKER INVESTMENTS
          LIMITED by:


          /s/ M. B. Ridgway
          -----------------------------
          Signature


          Michael Ridgway
          -----------------------------
          Name


          C.E.O.
          -----------------------------
          Position


<PAGE>

                                                                              28

                                   SCHEDULE A


                                     DEALERS
<TABLE>
<CAPTION>


DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Auckland Telecommunications             PO Box 52105                            Morningside                     Auckland
------------------------------------------------------------------------------------------------------------------------------------
J L Marketing                           PO Box 90382                            North Shore Mail Centre         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Southtel Communications Limited         PO Box 13456                            Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Corporate Connections Limited           PO Box 99263                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
Kouka Telephone Services Limited        102 Tancred Street                      Ashburton
------------------------------------------------------------------------------------------------------------------------------------
New Age Communications                  PO Box 1509                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Telephone Equipment                     PO Box 1155                             Waikato Mail Centre             Hamilton
---------------------------------------- -------------------------------------------------------------------------------------------
Telephone House 1991 Limited            41 Halifax Street                       Nelson
------------------------------------------------------------------------------------------------------------------------------------
Telephone House Marlborough             1 Redwood Street                        Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Total Network                           PO Box 77041                            Auckland
---------------------------------------- -------------------------------------------------------------------------------------------
Unicomm (United Communications          PO Box 14680                            Mt Wellington                   Auckland
------------------------------------------------------------------------------------------------------------------------------------
Unicomm Cellular(Nth Shore)             PO Box 10116                            Glenfield                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
A Ellery & Sons Limited                 PO Box 178                              Greymouth
------------------------------------------------------------------------------------------------------------------------------------
A.T.S Communications                    PO Box 611                              Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Able Business Machines                  PO Box 9119                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Access Telecom                          PO Box 7154                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Airwave Communication Services          PO Box 19520                            Avondale                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Alexandra Paper Plus                    64 Centennial Avenue                    Alexandra
------------------------------------------------------------------------------------------------------------------------------------
Allen Motors Northland                  PO Box 78                               Kaikohe
------------------------------------------------------------------------------------------------------------------------------------
Alpha Communications Limited            PO Box 392                              Napier
------------------------------------------------------------------------------------------------------------------------------------
Andcro Investments Limited              52 The Mall                             Cromwell
------------------------------------------------------------------------------------------------------------------------------------
Anderson Agencies                       52 The Mall                             Cromwell
------------------------------------------------------------------------------------------------------------------------------------
Anstiss Paper Plus                      PO Box 374                              Ashburton
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              29

<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Asmex Business Communications           PO Box 1720                             Parnell                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Australasian Business Systems           PO Box 11-511                           Wellington
------------------------------------------------------------------------------------------------------------------------------------
Automation & Electronics Limited        PO Box 1049                             Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Barcham Projects Limited                PO Box 633                              Hastings
------------------------------------------------------------------------------------------------------------------------------------
Bay Business Centre                     PO Box 390                              Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Beech Communications                    PO Box 13 423                           Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Berry Electronics                       148 Thames Street                       Oamaru
------------------------------------------------------------------------------------------------------------------------------------
Blenheim Electric House                 PO Box 52                               Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Blue Star Office Automation             PO Box 68-421                           Newton                          Auckland
------------------------------------------------------------------------------------------------------------------------------------
Blue Star Office Automation             PO Box 1868                             Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Blue Star Office Products               PO Box 235                              Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Bon Pacific Trading Limited             PO Box 1292                             Auckland 1
------------------------------------------------------------------------------------------------------------------------------------
Boonen Electronics                      106 The Strand                          Whakatane
------------------------------------------------------------------------------------------------------------------------------------
Brent Cowan Communications Limited      PO Box 490                              Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Buckton Communication                   PO Box 491                              Te Puke
------------------------------------------------------------------------------------------------------------------------------------
Business Applications                   PO Box 2088                             Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Business Communications Solutions       Box 6320                                Te Aro                          Wellington
------------------------------------------------------------------------------------------------------------------------------------
Business Services 2000 Limited          11 Russell Street                       Foxton
------------------------------------------------------------------------------------------------------------------------------------
Canterbury Business Svces Limited       4 Moorhouse Avenue                      Christchurch
------------------------------------------------------------------------------------------------------------------------------------
CDG Systems                             PO Box 11982                            Wellington
------------------------------------------------------------------------------------------------------------------------------------
Cell Line Limited                       PO Box 62214                            Sylvia Park                     Mt Wellington
------------------------------------------------------------------------------------------------------------------------------------
Cell Link Limited                       PO Box 14507                            Wellington
------------------------------------------------------------------------------------------------------------------------------------
Celldirect                              PO Box 91204                            Wellesley Street                Auckland
------------------------------------------------------------------------------------------------------------------------------------
Ceilnet Mobile Services Limited         PO Box 14002                            Panmure                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City                          PO Box 9337                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Palmerston North)       PO Box 4224                             Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Celltech Limited                        PO Box 90 328                           Ponsonby                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              30
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Celltronic                              PO Box 13595                            Newlands                        Wellington
------------------------------------------------------------------------------------------------------------------------------------
Cellular 1 Pacific                      1 Crd                                   Oamaru
------------------------------------------------------------------------------------------------------------------------------------
Cellular Business Systems               PO Box 26044                            Wellington
------------------------------------------------------------------------------------------------------------------------------------
Cellular One - Manukau                  32c Lambie Drive                        Manukau City
------------------------------------------------------------------------------------------------------------------------------------
Cellular One - Newmarket                PO Box 9435                             Newmarket                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellular One - Smart Phones             PO Box 21                               Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Cellular One - Takapuna                 135 Wairau Rd                           Takapuna                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellular One-Smart Phones               PO Box 2208                             Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Cellular Solutions                      PO Box 34020et                          Birkenhead                      Auckland
------------------------------------------------------------------------------------------------------------------------------------
Central Communications                  PO Box 16122                            Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Central Electric Limited                PO Box 275                              Alexandra
------------------------------------------------------------------------------------------------------------------------------------
Central Refrigeration Services Limited  PO Box 170                              Taumarunui
------------------------------------------------------------------------------------------------------------------------------------
Check Point Enterprises Limited         PO Box 50770                            Porirua
------------------------------------------------------------------------------------------------------------------------------------
Christie Electrics                      PO Box 21                               Whakatane
------------------------------------------------------------------------------------------------------------------------------------
CN Security                             PO Box 5102                             Napier
------------------------------------------------------------------------------------------------------------------------------------
Coastal Communications Limited          PO Box 2461                             Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Coastline Auto Electrical               PO Box 240                              Whangamata
------------------------------------------------------------------------------------------------------------------------------------
Communication Works                     PO Box 90077                            Victoria Street                 Auckland
------------------------------------------------------------------------------------------------------------------------------------
Communication Developments Limited      PO Box 46210                            Herne Bay                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Computer Brokers                        Private Bag 102999                      North Shore Mail Centre         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Computerland WCS                        PO Box 878                              Masterton
------------------------------------------------------------------------------------------------------------------------------------
Comserv                                 PO Box 1459                             Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Comtech Telecommunications Limited      PO Box 112015                           Penrose                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Craigs Computers & Comms Limited        47 Belmont Road                         Paeroa
------------------------------------------------------------------------------------------------------------------------------------
Crandall Paper Plus                     71 Picton Street                        Howick                          Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cromwell Paper Plus                     68 The Mall                             Cromwell
------------------------------------------------------------------------------------------------------------------------------------
D&J Conroy Partnership                  PO Box 690                              Queenstown
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              31
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Datatronics Limited                     PO Box 866                              Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Daves Car Audio                         2a Barbour Street                       Cbristchurch
------------------------------------------------------------------------------------------------------------------------------------
David Brice Electronics                 47 Kimbolton Road                       Feilding
------------------------------------------------------------------------------------------------------------------------------------
Deemess Telectronics Limited            PO Box 460                              Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Driving Sound Limited                   131 Wairau Road                         Glenfleld                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Duckworths RTS                          PO Box 532                              Napier
------------------------------------------------------------------------------------------------------------------------------------
Echo Mechanical & Electrical            PO Box 315                              Alexandra
------------------------------------------------------------------------------------------------------------------------------------
Edwin Brown Limited                     626 Pollen Street                       Thames
------------------------------------------------------------------------------------------------------------------------------------
Ellerys Home Appliances                 11 Weld Street                          Hokitika
------------------------------------------------------------------------------------------------------------------------------------
Ericsson Cellular Limited               PO Box 14946                            Panmure                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Ericsson Cellular Limited               PO Box 14946                            Panmure                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Fairbairn Lawes Limited                 219 Queen Street                        Nelson
------------------------------------------------------------------------------------------------------------------------------------
Flemings Electrical                     PO Box 286                              Waipukarau
------------------------------------------------------------------------------------------------------------------------------------
Foveaux Communications                  PO Box 1282                             Invercargill
------------------------------------------------------------------------------------------------------------------------------------
GDC (NZ) Limited                        PO Box 90888                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
Gemini Electrical                       PO Box 117                              Kaitaja
------------------------------------------------------------------------------------------------------------------------------------
Genesis Communications                  PO Box 27344                            Mt Roskill                      Auckland
------------------------------------------------------------------------------------------------------------------------------------
Gisborne Furniture Court                310 Gladstone Street                    Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Go Mobile                               PO Box 22 777                           Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Golden Bay Services                     11 Commercial Street                    Takaka                          Nelson
------------------------------------------------------------------------------------------------------------------------------------
H M Winlove Limited                     PO Box 198                              Waipukarau
------------------------------------------------------------------------------------------------------------------------------------
Halls Home Team                         22 Queens Street                        Warkworth
------------------------------------------------------------------------------------------------------------------------------------
Hawkes Bay Telephone Co                 PO Box 1187                             Onekawa                         Napier
------------------------------------------------------------------------------------------------------------------------------------
Heathcote Appliances                    PO Box 32                               Morrinsville
------------------------------------------------------------------------------------------------------------------------------------
Heral Business Centre                   PO Box 1143                             Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Herkt Home Appliances                   Box 615                                 Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Hubands Appliance Court                 76 Victoria Street                      Dargaville
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>


                                                                              32
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Hubands Retravision                     PO Box 646                              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Hughsons Bookshop                       PO Box 450                              Hawera
------------------------------------------------------------------------------------------------------------------------------------
Icom Systems                            PO Box 101629                           North Shore Mail Centre         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Industrial Communication Svcs           PO Box 12645                            Penrose                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Inform Communications                   1 Bennett Street                        Mt Albert                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
J H Greenwood & Co Limited              PO Box 91                               Westport
------------------------------------------------------------------------------------------------------------------------------------
Just Cellphones                         37b Calypso Place                       Rothesay Bay                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Kaikoura Appliances                     41 Westend                              Kaikoura
------------------------------------------------------------------------------------------------------------------------------------
Kilbirnie Paper Plus                    PO Box 14445                            Kilbirnie                       Wellingto
------------------------------------------------------------------------------------------------------------------------------------
Lanz Home & Business Equipment          PO Box 33412                            Takapuna                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Lanz Office Equipment Limited           PO Box 33412                            Takapuna                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
M R Repairs Limited                     PO Box 76083                            Manukau City                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Mainpower Appliance Centre              Westend                                 Rangiora                        Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Mangatea Communications Limited         62 High Street                          Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Marlborough Electronics Limited         PO Box 552                              Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Mclachlans TV & Video Limited           PO Box 375                              Taumarunui
------------------------------------------------------------------------------------------------------------------------------------
Meikles Lifestyle Centre                The Strand                              Whakatane
------------------------------------------------------------------------------------------------------------------------------------
Mercury Bay Electrical                  49 Albert Street                        Whitianga
------------------------------------------------------------------------------------------------------------------------------------
Mimes Electrical                        PO Box 205                              Tokoroa
------------------------------------------------------------------------------------------------------------------------------------
MJ & AM Kingan Limited                  PO Box 170                              Ashburton
------------------------------------------------------------------------------------------------------------------------------------
Mobile Business Solutions Limited       PO Box 68678                            Newton                          Auckland
------------------------------------------------------------------------------------------------------------------------------------
Moirs Paper Plus                        PO Box 686                              Nelson
------------------------------------------------------------------------------------------------------------------------------------
Monty Knight Limited                    PO Box 388                              Kaitaja
------------------------------------------------------------------------------------------------------------------------------------
Motorola Cellular                       Private Bag 14943                       Panmure                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Mt Campbell Communication Limited       108 Vanguard Street                     Nelson
------------------------------------------------------------------------------------------------------------------------------------
Multiline Telecommunications            PO Box 108                              Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Nautech Electronics                     PO Box 82063                            Highland Park                   Auckland
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              33

<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Nelson Retravision (Sony A/C)           PO Box 503                              Nelson
------------------------------------------------------------------------------------------------------------------------------------
Netway Communications Limited           PO Box 5653                             Wellesley Street                Auckland
------------------------------------------------------------------------------------------------------------------------------------
Newbolds Masterton                      Cr Queen & Bannister                    Masterton
------------------------------------------------------------------------------------------------------------------------------------
Newbolds Porirua                        11 Serlby Place                         Porirua                         Wellington
------------------------------------------------------------------------------------------------------------------------------------
Newbolds Upper Hutt                     PO Box 40142                            Upper Hutt                      Wellington
------------------------------------------------------------------------------------------------------------------------------------
Noel Aymes Limited                      58-60 Maniapoto Street                  Otorohanga
------------------------------------------------------------------------------------------------------------------------------------
Novacom Systems Limited                 32 View Road                            Glenfleld                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Office Communications                   PO Box 371                              Hamilton
------------------------------------------------------------------------------------------------------------------------------------
P B Autoelectrical Limited              PO Box 253                              Greymouth
------------------------------------------------------------------------------------------------------------------------------------
Pakuranga Paper Plus                    Shop 7                                  Warehouse Complex
------------------------------------------------------------------------------------------------------------------------------------
Penninsula Betta Electrical             PO Box 134                              Whitianga
------------------------------------------------------------------------------------------------------------------------------------
Penwardens Radio & TV                   PO Box 325                              Tokoroa
------------------------------------------------------------------------------------------------------------------------------------
Phone Link South Limited                PO Box 1520                             Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Phoneland                               PO Box 375                              Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Phonequip/Alarmquip Limited             PO Box 7053                             Sydneham                        Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Pinehill Office Services                Paekalcareki Hill Road                  Rd 1                            Plimmerton
------------------------------------------------------------------------------------------------------------------------------------
Pitcher Electrical Limited              PO Box 107                              Whangamata
------------------------------------------------------------------------------------------------------------------------------------
Quality Electronics                     PO Box 5326                             Palinerston North
------------------------------------------------------------------------------------------------------------------------------------
Quixley Communications Limited          PO Box 8179                             Eden Terrace                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
R C Auto Accessories                    PO Box 8485                             Riccarton                       Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Radio Communications Limited            PO Box 9430                             Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Radio House                             PO Box 218                              Taumarunui
------------------------------------------------------------------------------------------------------------------------------------
Rangitikei Electrical Limited           PO Box 153                              Marton
------------------------------------------------------------------------------------------------------------------------------------
Red Eagle Corporation Limited           Private Bag 92811                       Penrose                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Riccarton Paper Plus                    Rotherham Street                        Riccarton                       Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Rices                                   Mersey Street                           Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Richardson Communications Limited       PO Box 309                              Otorohanga
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              34

<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Rowan Morgan Computers                  PO Box 601                              Manurewa                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Silverdale Cellphones                   PO Box 175                              Silverdale                      Auckland
------------------------------------------------------------------------------------------------------------------------------------
Sound Business Systems Limited          PO Box 90722                            Auckland Mail Centre            Auckland
------------------------------------------------------------------------------------------------------------------------------------
South Island Electronics                182 Hawthornden Road                    Avonhead                        Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Southern Business Systems               14 Murdoch Street                       Hawera
------------------------------------------------------------------------------------------------------------------------------------
Southmark Computers (Sth Is)            PO Box 8642                             Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Southpower                              Private Bag                             Cbristchurch
------------------------------------------------------------------------------------------------------------------------------------
Surelock Homes Limited                  Shop 40-41, Level 1                     Lambton Square                  180 Lambton Quay
------------------------------------------------------------------------------------------------------------------------------------
Sutherland Security Centre Limited      PO Box 517                              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Tait Communications                     88 Austin Street                        Onekawa                         Napier
------------------------------------------------------------------------------------------------------------------------------------
Tait Communications                     549 Te Rapa Road                        Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Tait Communications                     PO Box 3390                             New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Tait Communications                     7 Hautonga Street                       Petone                          Wellington
------------------------------------------------------------------------------------------------------------------------------------
Team Communications                     8 Ambury Court                          1 Porters Avenue                Eden Terrace
------------------------------------------------------------------------------------------------------------------------------------
Team Communications                     Unit 3,                                 709 Tremaine Avenue             Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Telephone Services Limited              5b Benefield Street                     Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Teletech Communications Limited         PO Box 21618                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
Teletronics Radio & TV Services         PO Box 389                              Masterton
------------------------------------------------------------------------------------------------------------------------------------
Thames Sound Shack Limited              634 Pollen Street                       Thames
------------------------------------------------------------------------------------------------------------------------------------
The Business Centre                     PO Box 2179                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
The Cellular Dealer Team H/O            PO Box 90639                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
The Cellular Phone Company Limited      66 Stoddard Road                        Mt Roskill                      Auckland
------------------------------------------------------------------------------------------------------------------------------------
The Fermah Group                        Level One                               Postbank House                  The Strand
------------------------------------------------------------------------------------------------------------------------------------
The Mobile Office Company               PO Box 38522                            Howick                          Auckland
------------------------------------------------------------------------------------------------------------------------------------
The Office Shop                         PO Box 1577                             Invercargill
------------------------------------------------------------------------------------------------------------------------------------
The Telephone Company                   PO Box 5111                             Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Thomas Electronics Limited              PO Box 1590                             Dunedin
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              35
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Trio Business Centre Limited            PO Box 539                              New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Triton Cellular Network Limited         PO Box 51130                            Pakuranga                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     Cnr Armagh & Durham                     Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     109 Lower Cameron Street                Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     PO Box 2104                             Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     Cnr Eruera & Fenton                     Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     9 Robe Street                           New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     Cnr Albert & Main Street                Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     Cnr Castle &                            St Andrew Street                P.O Box 6338
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     Back Of Government Life Building        Whakatu Lane                    Nelson
------------------------------------------------------------------------------------------------------------------------------------
Ubix Communications                     32 Church Street                        Timaru
------------------------------------------------------------------------------------------------------------------------------------
Ubix Copy Centre                        PO Box 620                              Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Ubix Telephone Technology               PO Box 9148                             London Street                   Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Wairoa Power Limited                    PO Box 131                              Wairoa
------------------------------------------------------------------------------------------------------------------------------------
Wanganui Motors Limited                 86 Clyde Street                         Ohakune
------------------------------------------------------------------------------------------------------------------------------------
Wellington Business Equipment           PO Box 27502                            Wellington
------------------------------------------------------------------------------------------------------------------------------------
Wensley 2 Way Radio                     108 Vanguard Street                     Nelson
------------------------------------------------------------------------------------------------------------------------------------
Wgtn Telecommunications Limited         PO Box 1272                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Whakatane Appliances Limited            PO Box 301                              Whakatane
------------------------------------------------------------------------------------------------------------------------------------
Wood Appliances                         Belmont Road                            Paeroa
------------------------------------------------------------------------------------------------------------------------------------
Absolute Telecommunications             PO Box 15                               98 Main Street                  Gore
------------------------------------------------------------------------------------------------------------------------------------
Abtec Installations Limited             PO Box 51067                            Tawa
------------------------------------------------------------------------------------------------------------------------------------
Adamson & Holland Limited               PO Box 10060                            Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Advanced Networks Limited               PO Box 31436                            Lower Hutt                      Wellington
------------------------------------------------------------------------------------------------------------------------------------
Air Cell Communications Spec            1237 Ada Street                         Hastings
------------------------------------------------------------------------------------------------------------------------------------
Air Digital Communications Adc          Box 570                                 125 Commerce Street             Kaitaia
------------------------------------------------------------------------------------------------------------------------------------
Alcom Comm Services Limited             PO Box 6145                             Rotorua
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              36
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Anderson Electromcs Services Limited    PO Box 126                              Gore
------------------------------------------------------------------------------------------------------------------------------------
Arndt Electronics                       10 Orowaiti Street                      Westport
------------------------------------------------------------------------------------------------------------------------------------
Ashley Electronics Limited              PO Box 212                              14 Bank Street                  Timaru
------------------------------------------------------------------------------------------------------------------------------------
Basil North Limited                     PO Box 225                              Mosgiel
------------------------------------------------------------------------------------------------------------------------------------
Baylink Communications                  6 Commercial St                         Takaka
------------------------------------------------------------------------------------------------------------------------------------
Beeby Electronics                       PO Box 192                              James Street                    Balclutha
------------------------------------------------------------------------------------------------------------------------------------
Blenheim Toyota                         PO Box 802                              21 Main Street                  Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Campbell Communications                 93 Broadway                             Kaikohe
------------------------------------------------------------------------------------------------------------------------------------
Capital Communications Limited          PO Box 50299                                                            Wellington
------------------------------------------------------------------------------------------------------------------------------------
Car Conceptz                            97 Amohau Street                        Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Cellfax Communication Wholesalers       PO Box 17270                            Greenlane                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone Warehouse                     290 Ti Rakau Drive                      East Tamaki                     Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone Warehouse                     PO Box 9800                             Newmarket                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone Warehouse                     Crn St Lukes & Sandringham Rd           St Lukes                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellular & Office Services              PO Box 1435                             Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Chris White Auto-Electrical             PO Box 181                              Waipukurau
------------------------------------------------------------------------------------------------------------------------------------
Coastal Communications Limited          PO Box 492                              Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Complete Telecommunications             PO Box 187                              94 Arawa Street                 Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Computerland Hawkes Bay                 PO Box 2091                             Stortford Lodge                 Hastings
------------------------------------------------------------------------------------------------------------------------------------
Comtel Systems Limited                  PO Box 644                              Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Cosyn Commercial Group                  PO Box 331474                           Auckland
------------------------------------------------------------------------------------------------------------------------------------
Counties Power                          Private Bag 4                           Pukekohe                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Dive Communication Systems              14 Burnton Street                       Lower Hutt
------------------------------------------------------------------------------------------------------------------------------------
Easiphone                               PO Box 1196                             37b Bright Street               Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Eastland Auto Electrical                PO Box 1163                             384 Childers Road               Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Electronic Machine Services Limited     PO Box 2182                             Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Excel Communications Limited            PO Box 1810                             87-89 Hinemoa Street            Rotorua
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              37
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Fast Talk Communications                PO Box 3054                             ChristChurch
------------------------------------------------------------------------------------------------------------------------------------
GDC Northland                           PO Box 234                              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Gracetek Telecommunications             PO Box 1460                             105 Leet Street                 Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Harvest Electronics                     PO Box 446                              Masterton
------------------------------------------------------------------------------------------------------------------------------------
Hewson Electronics                      PO Box 13                               Gore
------------------------------------------------------------------------------------------------------------------------------------
Ian Young Paging                        15 Glenfell Place                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Jayar Scraggs Contractors Limited       13 Commerce Street                      Whakatane
------------------------------------------------------------------------------------------------------------------------------------
Kaimai Electronics                      2 Mangwhero Road                        Matamata
------------------------------------------------------------------------------------------------------------------------------------
Kapiti Communications Limited           PO Box 49                               120 Rimu Road                   Paraparumu
------------------------------------------------------------------------------------------------------------------------------------
Kerikeri Communications                 35 Hobson Avenue                        Kerikeri
------------------------------------------------------------------------------------------------------------------------------------
Lamberts Business Centre                PO Box 164                              New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               PO Box 1335                             157 Rangitikei Street           Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Levin Communication Services            PO Box 281                              Levin
------------------------------------------------------------------------------------------------------------------------------------
Mainland Communications Limited         PO Box 350                              229 Thames Street               Qamaru
------------------------------------------------------------------------------------------------------------------------------------
Man Phone Rentals NZ Limited            PO Box 8151                             Symonds Street                  Auckland
------------------------------------------------------------------------------------------------------------------------------------
Microwave Systems Limited               PO Box 26 044                           Newlands                        Wellington
------------------------------------------------------------------------------------------------------------------------------------
Mills Chapman Communications            PO Box 627                              New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Mobile Communciations Limited           PO Box 1119                             Taupo
------------------------------------------------------------------------------------------------------------------------------------
Murray Gillespie Limited                PO Box 4296                             New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Oamaru Paper Plus                       181 Thames Street                       Oamaru
------------------------------------------------------------------------------------------------------------------------------------
Obertech Group                          PO Box 10                               58 Glover Rd                    Hawera
------------------------------------------------------------------------------------------------------------------------------------
Office Automation                       PO Box 13080                            Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Otago Central Telecomms                 8 Skird St                              Alexandra
------------------------------------------------------------------------------------------------------------------------------------
Otago Electrical & Comm                 PO Box 676                              Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Pacific Network Communications          PO Box 1500                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Pacific Telephones                      PO Box 22192                            Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Paging Services Southern                30 Church Street                        Mosgiel                         Dunedin
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              38
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Powercom Business Centre                PO Box 631                               Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Prolite HB Limited                      PO Box 14163                             813 N Karamu Road              Hastings
------------------------------------------------------------------------------------------------------------------------------------
Pro-Stall Communications                PO Box 877                              429 Queen Street                Masterton
------------------------------------------------------------------------------------------------------------------------------------
Pukekohe Hi Fi & TV Limited             50 King Street                          Pukekohe
------------------------------------------------------------------------------------------------------------------------------------
Radcom Sales                            PO Box 9574                             Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Rangiora Toyota                         PO Box 326                              Rangiora
------------------------------------------------------------------------------------------------------------------------------------
Rent-A-Phone/Cellular World             PO Box 62526                            Central Park                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Ruralcom Electronics Limited            PO Box 422                              Nelson
------------------------------------------------------------------------------------------------------------------------------------
Safe & Sound Car Stereo/Alarms          49 Anzac Parade                         Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Selective Communications Group          PO Box 8798                             Symonds Street                  Auckland
------------------------------------------------------------------------------------------------------------------------------------
Smart Phones Limited                    407 Cameron Road                        Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Smart Phones Limited                    43 Ruapehu Street                       Taupo
------------------------------------------------------------------------------------------------------------------------------------
South Pacific Electronics Limited       211-213 King Street                     Pukekohe                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Southland Electronics                   PO Box 1210                             Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Star Communications Limited             PO Box 40326                            Glenfleld                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Steelcon Electronics `95                PO Box 1166                             Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Sure Communications                     PO Box 100792                           Nsmc                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
Surelock Homes Kapiti Limited           PO Box 371                              Paraparaumu
------------------------------------------------------------------------------------------------------------------------------------
Tait Communications                     PO Box 1185                             Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Teamwork Telecommunications             PO Box 3410                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Teletronics                             PO Box 389                              Masterton
------------------------------------------------------------------------------------------------------------------------------------
Thames Communications                   PO Box 642                              107 Brunton Street              Thames
------------------------------------------------------------------------------------------------------------------------------------
Thames Television Systems Limited       PO Box 71                               434 Pollen Street               Thames
------------------------------------------------------------------------------------------------------------------------------------
The Otago Telephone Co                  PO Box 5111                             Dunedin
------------------------------------------------------------------------------------------------------------------------------------
The Phone Shop (Timaru)                 Box 439                                 Timaru
------------------------------------------------------------------------------------------------------------------------------------
The Telephone Box                       PO Box 2029                             95 Customhouse Quay             Wellington
------------------------------------------------------------------------------------------------------------------------------------
The Telephone Box NZ Limited            PO Box 2113                             418 High Street                 Lower Hutt
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              39
<TABLE>
<CAPTION>
DEALER                                                                                     ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Trilogy Business Systems Limited        Private Bag 3323 Auckland               29 Queen Street                 Levin
------------------------------------------------------------------------------------------------------------------------------------
TRS Communication Systems               PO Box 32010                            Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Walker Data Vision Limited              PO Box 12343                            Penrose                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Wanaka Books & Toys                     PO Box 243                              23 Helwick St                   Wanaka
------------------------------------------------------------------------------------------------------------------------------------
Wanganui Motors                         PO Box 86                               Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Wilsons Homeware                        35 Camp Street                          Queenstown
------------------------------------------------------------------------------------------------------------------------------------
Mod Comms                               PO Box 38286                            Howick                          Auckland
------------------------------------------------------------------------------------------------------------------------------------
Advance Better Communications           PO Box 4164                             87 Molesworth Street            New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Bay Communications                      PO Box 2333                             111 Maraekakaha Road            Hastings
------------------------------------------------------------------------------------------------------------------------------------
Bay Communications Limited              PO Box 391                              66 Carlyle Street               Napier
------------------------------------------------------------------------------------------------------------------------------------
Communications Products Limited         PO Box 14141                            13a Mirrielees Road             Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Communications Specialists Limited      PO Box 5696                             Crn Police & Cumberland Sts     Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Comworth Systems Limited                PO Box 100120 Nsmc                      133 Wairau Rd Glenfleld         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Comworth Systems Limited                PO Box 4485                             Unit 1/100 Fitzgerald Avenue    Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Comworth Systems Limited                PO Box 38940 Petone                     136 Hutt Rd Petone              Wellington
------------------------------------------------------------------------------------------------------------------------------------
Concord Technologies                    PO Box 1514                             36 Fairy Springs Road           Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Concord Technologies                    PO Box 10077                            639 Te Rapa Street              Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Hart Candy Communications               PO Box 7145 Wellesley St                217-223 Hobson Street           Auckland
------------------------------------------------------------------------------------------------------------------------------------
Hart Candy Communications Limited       PO Box 7145 Wellesley St3               44a Lambie Dr Manakau City      Auckland
------------------------------------------------------------------------------------------------------------------------------------
Jackson & Wills Limited                 PO Box 1100                             239 Dee Street                  Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Manawatu TV & Sound                     PO Box 361                              Cnr Pitt & Cuba Street          Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Nelspecs Limited                        PO Box 414                              1/124 Tahunaui Drive            Nelson
------------------------------------------------------------------------------------------------------------------------------------
T L Parker                              36 Sheffield Cres                       Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Whangarei Electrical Services           PO Box 1691                             24 Herekino Street              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Ashworths Paper Plus                    74 Commerce Street                      Kaitaia
------------------------------------------------------------------------------------------------------------------------------------
Barrington Mall Paper Plus              PO Box 33021                            Barrington Mall                 Christchurch
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              40
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Barry & Hastings Paper Plus             PO Box 94                               Matamata
------------------------------------------------------------------------------------------------------------------------------------
Bob Wichman Retravision-29041           PO Box 23234                            Papatoetoe                      Auckland
------------------------------------------------------------------------------------------------------------------------------------
Broadway Paper Plus                     PO Box 244                              Kaikohe
------------------------------------------------------------------------------------------------------------------------------------
Brokenshires Paper Plus                 554 Pollen Street                       Thames
------------------------------------------------------------------------------------------------------------------------------------
Bushnells Paper Plus                    PO Box 626                              Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Cawseys Paper Plus                      PO Box 4                                Dannevirke
------------------------------------------------------------------------------------------------------------------------------------
Central Paper Plus                      PO Box 11                               Greymouth
------------------------------------------------------------------------------------------------------------------------------------
Coastlands Paper Plus                   Coastland Shopping Mall                 Paraparaumu
------------------------------------------------------------------------------------------------------------------------------------
Colombo Paper Plus                      PO Box 9063                             Wellington
------------------------------------------------------------------------------------------------------------------------------------
Conways Paper Plus                      PO Box 365                              Rangiora
------------------------------------------------------------------------------------------------------------------------------------
Corrigalls Paper Plus                   PO Box 328                              New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Deacons Retravision                     45 Horomatangi                          Taupo
------------------------------------------------------------------------------------------------------------------------------------
Dimocks Retravision- 14492              PO Box 577                              Hawera
------------------------------------------------------------------------------------------------------------------------------------
Dimocks Retravision- 14497              237 Broadway                            Stratford
------------------------------------------------------------------------------------------------------------------------------------
Doug Morris Retravision-21741           PO Box 50                               Huntly
------------------------------------------------------------------------------------------------------------------------------------
Doug Morris Retravision-21741           300 Barton Street                       Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Doug Morris Retravision-2174lc          63 Victoria Street                      Cambridge
------------------------------------------------------------------------------------------------------------------------------------
Downtown Paper Plus                     PO Box 75                               Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Duckworths Retravision- 14893           Gloucestor Street                       Tardale                         Napier
------------------------------------------------------------------------------------------------------------------------------------
Duckworths Retravision- 14893           PO Box 532                              Taradale                        Napier
------------------------------------------------------------------------------------------------------------------------------------
Echlins Paper Plus                      PO Box 36                               Morrmnsville
------------------------------------------------------------------------------------------------------------------------------------
Feilding Paper Plus                     1 Manchester Street                     Feilding
------------------------------------------------------------------------------------------------------------------------------------
Flair Retravision-23875                 Cr Amohia&Pukuatu Street                Hinemoa Centre                  Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Ford Motor Co Limited                   Private Bag 76912                       Manukau City                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Foster Brook Paper Plus                 PO Box 3                                Hastings
------------------------------------------------------------------------------------------------------------------------------------
Foster Brook Paper Plus                 PO Box 40                               Napier
------------------------------------------------------------------------------------------------------------------------------------
Fountain City Paper Plus                Shop 11, Downtown                       Hamilton
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>


                                                                              41
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Goldfields Paper Plus                   Goldfields Shopping Centre              Queen Street                    Thames
------------------------------------------------------------------------------------------------------------------------------------
Good Guys Retravision- 16495            PO Box 18065                            Glen limes                      Auckland
------------------------------------------------------------------------------------------------------------------------------------
Grahams (Takapuna) Paper Plus           16 Hurstmere Road                       Takapuna                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Grahams Paper Plus                      Leith Place                             Tokoroa
------------------------------------------------------------------------------------------------------------------------------------
Grahams Paper Plus                      PO Box 175                              Waxpukurau
------------------------------------------------------------------------------------------------------------------------------------
Greenwoods Retravision- 16675           PO Box 91                               Westport
------------------------------------------------------------------------------------------------------------------------------------
Greymouth Retravision- 21090            85 Mackay Street                        Greymouth
------------------------------------------------------------------------------------------------------------------------------------
Guys Paper Plus                         PO Box 171                              Te Awamutu
------------------------------------------------------------------------------------------------------------------------------------
Haymans Paper Plus                      PO Box 46                               Marton
------------------------------------------------------------------------------------------------------------------------------------
Highpoint Paper Plus                    Shop 18                                 Highpoint Shopping Centre       Birkenhead
------------------------------------------------------------------------------------------------------------------------------------
Horizon Paper Plus                      228 High Street                         Lower Hutt
------------------------------------------------------------------------------------------------------------------------------------
Howson Retravision- 17685               PO Box 61                               Wellsford
------------------------------------------------------------------------------------------------------------------------------------
Howson Retravision- 17685               4/43 Queens Street                      Warkworth
------------------------------------------------------------------------------------------------------------------------------------
Hubands Retravision                     PO Box 646                              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Hubands Retravision- 17900              PO Box 646                              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Hubands Retravision- 17900              76 Victoria Street                      Dargaville
------------------------------------------------------------------------------------------------------------------------------------
Huggards Retravision- 18007             PO Box 3011                             Fitzroy                         New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Hughsons Paper Plus                     PO Box 450                              Hawera
------------------------------------------------------------------------------------------------------------------------------------
Kapiti Retravision                      PO Box 71                               Paraparaumu                     Auckland
------------------------------------------------------------------------------------------------------------------------------------
Kerikeri Paper Plus                     Main Road                               Kerikeri
------------------------------------------------------------------------------------------------------------------------------------
Kings Paper Plus                        39 Maniapoto Street                     Otorohanga
------------------------------------------------------------------------------------------------------------------------------------
Laniasons Paper Plus                    8 Te Mata Road                          Havelock North
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               86 Broadway Avenue                      Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               11 Main Street                          Foxton
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               234 Broadway                            Marton
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               78 High Street                          Bulls
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               97-99    Fergusson Street               Feilding
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              42
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Leader & Watt Retravision               211 Oxford Street                       Levin
------------------------------------------------------------------------------------------------------------------------------------
Leader & Watt Retravision               171 Victoria Avenue                     Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Leisuretime Paper Plus                  27 Heu Heu Street                       Taupo
------------------------------------------------------------------------------------------------------------------------------------
Manners Street Paper Plus               PO Box 11625                            Wellington
------------------------------------------------------------------------------------------------------------------------------------
Masterton Paper Plus                    110 Queen Street                        Masterton
------------------------------------------------------------------------------------------------------------------------------------
Masterton Retravision- 13528            PO Box 136                              Masterton
------------------------------------------------------------------------------------------------------------------------------------
Mccarthys Paper Plus                    PO Box 7170                             Taradale                        Napier
------------------------------------------------------------------------------------------------------------------------------------
Mcleods Paper Plus                      PO Box 276                              Levin
------------------------------------------------------------------------------------------------------------------------------------
Meikles                                 Church Street                           Opotiki
------------------------------------------------------------------------------------------------------------------------------------
Meikles Limited                         Riverslea Shopg Mall                    Edgecumbe
------------------------------------------------------------------------------------------------------------------------------------
Meildes Retravision- 21210              The Strand                              Whakatane
------------------------------------------------------------------------------------------------------------------------------------
Moirs Paper Plus                        243 Queen Street                        Richmond
------------------------------------------------------------------------------------------------------------------------------------
Morris & Ockhuysen Retravision          31 Tasman Street                        Opunake
------------------------------------------------------------------------------------------------------------------------------------
New Brighton Paper Plus                 PO Box 716                              Christchurch
------------------------------------------------------------------------------------------------------------------------------------
NZ Automobile Association               AA Distribution Centre                  PO Box 100462                   Glenfield
------------------------------------------------------------------------------------------------------------------------------------
Opotild Paper Plus                      PO Box 37                               Opotiki
------------------------------------------------------------------------------------------------------------------------------------
Orewa Paper Plus                        Moana Court                             Orewa
------------------------------------------------------------------------------------------------------------------------------------
Paeroa Paper World                      PO Box 129                              Paeroa
------------------------------------------------------------------------------------------------------------------------------------
Paper Plus                              691 Manukau Rd                          Royal Oak                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Pennys Paper Plus                       Chartwell Square                        Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Phil Booth Retravision- 11710           85 Jellicoe Street                      Te Puke
------------------------------------------------------------------------------------------------------------------------------------
Plaza Paper Plus                        K-Mart Plaza                            Porirua                         Wellington
------------------------------------------------------------------------------------------------------------------------------------
Poppelwells Retravision-28428           PO Box 73                               Oneroa                          Waiheke Island
------------------------------------------------------------------------------------------------------------------------------------
Prestons Paper Plus                     234 George Street                       Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Prestons Paper Plus                     32 Irk Street                           Gore
------------------------------------------------------------------------------------------------------------------------------------
Prestons Paper Plus                     56 Esk Street                           Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Pukekohe Paper Plus                     PO Box 75                               Pukekohe
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              43
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Queen Street Paper Plus                 128 Queen Street                        Newmarket                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Reliance Retravision                    174 High Street                         Motueka
------------------------------------------------------------------------------------------------------------------------------------
Rices Retravision-24864                 Cambridge Place Arcade                  Corner Tay & Esk Streets        Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Rices Retravision-24864                 Trust Bank Arcade                       Corner Esk & Don Streets        Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Rices Retravision-24864                 Main Street                             Gore
------------------------------------------------------------------------------------------------------------------------------------
Royal Oak Paper Plus                    The Mall                                691 Manukau Road                Royal Oak
------------------------------------------------------------------------------------------------------------------------------------
Ryders Paper Plus                       35 Clyde Street                         Balclutha
------------------------------------------------------------------------------------------------------------------------------------
Simister Retravision-9050               575 Cameron Road                        Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Smith & Church Retravision              PO Box 434                              Ashburton
------------------------------------------------------------------------------------------------------------------------------------
Spinella Retravision-26160              PO Box 31051                            Milford                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Stevens Retravision-26603               Rosemont Road                           Waihi
------------------------------------------------------------------------------------------------------------------------------------
Stevensons Paper Plus                   153 High Street                         Motueka
------------------------------------------------------------------------------------------------------------------------------------
Strawbridges Retravision-26875          319 Alexander Street                    Te Awamutu
------------------------------------------------------------------------------------------------------------------------------------
Sullivan & Spillane Retravision         97 King Street                          Temuka
------------------------------------------------------------------------------------------------------------------------------------
Sullivan & Spillane Retravision         284 Stafford Street                     Timaru
------------------------------------------------------------------------------------------------------------------------------------
Sunnynook Paper Plus                    PO Box 100328                           Nsmc                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
Target Paper Plus                       Northlands Shopping Centre              Christchurch
------------------------------------------------------------------------------------------------------------------------------------
The Forum Paper Plus                    The Forum                               Market Place                    Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Tutanekai Paper Plus                    432 Tutanekai Street                    Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Van Dyk Retravision-28088               PO Box 201                              Putaruru
------------------------------------------------------------------------------------------------------------------------------------
Victoria Square Paper Plus              750 Colombo Street                      Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Vidtek Electrix                         PO Box 1307                             Gisborne
------------------------------------------------------------------------------------------------------------------------------------
Waiuku Paper Plus                       9 Bowen Street                          Waiuku
------------------------------------------------------------------------------------------------------------------------------------
Warkworth Paper Plus                    12 Queen Street                         Warkworth
------------------------------------------------------------------------------------------------------------------------------------
Winloves Retravision-29114              PO Box 198                              Waipukurau
------------------------------------------------------------------------------------------------------------------------------------
Winloves Retravision-29114              Centre Court                            Waipawa
------------------------------------------------------------------------------------------------------------------------------------
Woods Paper Plus                        186 Stafford Street                     Timaru
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              44
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Dick Smith Electronics-H/O              Private Bag 102903                      Northshore Mail Centre          Auckland
------------------------------------------------------------------------------------------------------------------------------------
Herkt Retravision- 17200                PO Box 615                              Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Nelson Retravision- 16900               PO Box 503                              Nelson
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited                    PO Box 4677                             Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Dunedin            283 Moray Place                         Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Invercargill       81 Yarrow Street                        Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Mt Maunganui       Bayfair Shopping Mall                   Mt Maunganui
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited  Napier            323 Hastings Street                     Napier
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Plaza              Shop 17a                                The Plaza                       Palmerston North
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Rotorua            Hinemoa Centre                          20 A Amohia Street              Rotorua
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Timaru             251 Stafford Street                     Timaru
------------------------------------------------------------------------------------------------------------------------------------
Noel Leeming Limited Wanganui           C/O Trafalgar Square                    Taupo Quay                      Wanganui
------------------------------------------------------------------------------------------------------------------------------------
Rices Retravision-24864                 Private Bag 90112                       Bond Place                      Invercargill
------------------------------------------------------------------------------------------------------------------------------------
RTS-Retail Trading Services Limited     Private Bag 76925                       Manukau City                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Comm (Service) Limited       PO Box 25073                            Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Comms Dunedin Limited        Cnr Princess & Moray                    Wilson Neill House              Dunedin
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communication                336 High Street                         Lower Hutt
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               250 East Street                         Ashburton
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               62 High Street                          Blenheim
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               120 Hereford Street                     Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               70 Moorehouse Avenue                    Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               105 Victoria St                         Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               Shop 24 Riccarton Mall Riccarton                                        Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               68 Esk Street                           Invercargill
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               106 Station Road                        Napier
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               Crn Hardy & Trafalgar Streets
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              45
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Ben Rumble Communications               Shop 27a, The Plaza, The Square         North Palinerston North
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               Shop 53 North City Plaza                                                Porirua
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               239 Stafford Street                                                     Timaru
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               23 Kent Street                          Wellington
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               114 Lambton Quay                        Wellington
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications               PO Box 690                              Queenstown
------------------------------------------------------------------------------------------------------------------------------------
Ben Rumble Communications Limited       PO Box 25073                            Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City                          PO Box 535                              Taupo
------------------------------------------------------------------------------------------------------------------------------------
Celiphone City (Cook St) Limited        PO Box 90639                            Amsc                            Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Hamilton) Limited       PO Box 10405                            Te Rapa                         Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Manukau) Limited        10 Sharkey Street                       Manukau City                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Tauranga) Limited       PO Box 21                               Tauranga
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Whangarei)              PO Box 726                              Whangarei
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City Henderson                5 Edsel Street                          Henderson                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City New Plymouth             PO Box 129                              New Plymouth
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Head Office)            22 Fanshaw Street                                                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Lambie)                 32c Lambie Drive                        Manakau                         Auckland
------------------------------------------------------------------------------------------------------------------------------------
Cellphone City (Takapuna)               135 Wairau Road                         Takapuna                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (New Lynn)                   Unit 4/1 Rata Street                    New Lynn                        Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Beach Road)                 77 The Strand Pamell                                                    Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Chch)                       In Levene Extreme                       250 Moorehouse Avenue           Christchurch
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Glenfleld)                  Crn Wairau & View Rd Glenfield                                          Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Greenlane)                  213 Greatsouth Road Greenlane                                           Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (H/O-Hobson St)              PO Box 12188 Penrose                    150 Hobson St                   Auckland
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              46
<TABLE>
<CAPTION>
DEALER                                                                   ADDRESS
------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                                     <C>                             <C>
Rocom Comm (Hamilton)                   Shop 19, Kmart Plaza                    Corner Bryce & Tristram         Hamilton
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Mid City Wellington)        Shop 14 Mid City Centre Manners         Wellington
                                        Street
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Mt Wellington)              501 Mt Wellington Highway                                               Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Newmarket)                  In Levene Extreme, 359 Broadway         Newmarket                       Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Botany Downs)               In Levenes 501 Ti Rakau Drive           East Tamaki                     Auckland
------------------------------------------------------------------------------------------------------------------------------------
Rocom Comm (Queensgate)                 Shop 5,Queensgate Centre                                                Wellington
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

                                                                              47
                                   SCHEDULE B

                                  MANUFACTURERS

1.     Audiovox Pacific (NZ) Limited;

2.     Ericsson Communications Limited;

3.     Motorola New Zealand Limited; and

4.     Nokia Mobile Phones Limited.


<PAGE>


                                                                              48
                                   SCHEDULE C

                      QUALIFYING CRITERIA FOR MANUFACTURERS

1.     Manufacturer's  Equipment provides  functionality and features at a price
       that is competitive in the NZ market.

2.     Manufacturer is ISO accredited.

3.     Manufacturer  provides a satisfactory  warranty  period on its Equipment.
       Standard acceptable warranty periods are:

       (a)    12 month warranty period on  transceiver;
       (b)    6 month warranty on accessories.

4.     Manufacturer provides acceptable credit and payment terms.

5.     NZ based manufacturer representation exists.

6.     Collateral and  merchandising  material is available to sales channels at
       the same time as the relevant Equipment.

7.     Manufacturer has a NZ based servicing team/service agent.

8.     Manufacturer provides a maximum 8 week turn around on forecasted orders.

9.     Manufacturer's  Equipment  conforms to PTC standards and the PTC approval
       process.

10.    Manufacturer's  Equipment  meets the technical  standards and performance
       requirements of Telecom's network.

11.    Manufacturer to supply:

       (a)    electronic copy of ESN's shipped for IS- 136 hardware;
       (b)    notification  of any new  software  releases  prior to shipment of
              hardware;
       (c)    ESN and  serial  number  barcodes  along  with  manufacturer  part
              numbers on each unit of hardware;
       (d)    Telecom  purchase  order  numbers  on  packing  slips  with  every
              shipment;
       (e)    notification of any changes in configuration  prior to shipment of
              hardware.

12.    Telecom  ultimately  reserves the right to select or not select Equipment
       manufacturers for the purpose of Equipment supply to the market place.


<PAGE>


                                                                              49
                                   SCHEDULE D

                       PERMITTED SERVICES TO MANUFACTURERS



TASK                                     AGREED PRICE
--------------------------------------------------------------------------------
Handset Reconfigurations
o    Handling base fee plus              o    $1.00/Handset
     o    Insert/remove additional       o    $0.50/Handset
          products/general repackaging
     o    Insert stickers and/or         o    $0.25/Handset
          collateral into phone pack
     o    Prenamming                     o    $0.50/Handset
--------------------------------------------------------------------------------
Collateral and Merchandising
o    Holding and distributing            o    To be agreed with Manufacturers
     materials (such as hats, posters)        when required.
     to the Dealers as required
     (a passive logistic function).
--------------------------------------------------------------------------------
Reporting
o    Provide  Manufacturer with market   o    To  be agreed with Manufacturers
     share by category of Equipment, but      when required.
     only where there are 3 or more
     Manufacturers providing Equipment
     in that category.
--------------------------------------------------------------------------------


Notes:

1.     Above pricing assumes 50 items handled at one time. Prices could vary for
       lesser numbers.

2.     A  discount  of 10%  applies on the above  prices  where  volume  handled
       exceeds 500 units at one time.

3.     A discount  of 15%  applies on the above  prices  where  volumes  handled
       exceeds 1000 units at any time.

4.     10 working days notice is required to arrange product alterations.


<PAGE>

                                                                              50

                                   SCHEDULE E

                                  HANDLING FEES

A.   HANDSET HANDLING FEE

o    Uses Excel Spreadsheet  "Phones@120K  Units". An example of this is set out
     below:


<PAGE>

                                                                              51

Phones Only Per Unit Cost @ 120,000 units per annum


<TABLE>
<CAPTION>

                                                 Total         Profit%          Consumer           Business          Total/M
<S>                                            <C>             <C>             <C>                <C>               <C>
Quantity Units/annum                            120,000                            48.000             72,000
% Consumer                                           40%
% Business                                           60%
Quantity Units /m                                10,000                             4,000              6,000            10,000
Assume 60% of units                                  60%                              100%                37%
Quantity Invoices /m                              6,220                             4,000              2,220             6,220
Phone Cost - Consumer                              $200                              $200
Phone Cost - Business                              $300                                                 $300
RMA Returns                                       0.042
Variable Cost/unit                                $2.39                             $2.39              $2.39
Fined Cost/Unit                                   $3.78
Net Profit                                         1.35%                             1.35%              1.35%
                                                   1.33%
Tax @ 33%                                          0.89%         0.44%

                                                                                Consumer           Business          Average
Fixed Cost                                                                     $15,117.00         $22,675.30        $37,792.50
Variable Cost                                                                  $13,422.00         $10,467.74        $23,939.74
Sub Total - Total Costs                                                        $28,589.00         $33,143.24        $61,722.24
Overbead/Unit                                                                       $7.15              $5.52             $6.17
Phone Cost                                                                        $200.00            $300.00           $260.00
Sub Tot/Unit                                                                      $207.15            $305.52           $266.17
Total Invoice to Telecom                                                          $209.94            $309.65           $269.27

(i)  Unit Price to Telcom                                                           $9.94              $9.65             $9.77


                                                                                Consumer           Business          Average
Order Processing Functions        Order input                   14.05%              $1.40              $1.36             $1.37

Distribution Functions            Inwards Goods                  1.46%              $0.15              $0.14             $0.14
                                  Namming
                                  Pick & Process                 2.93%              $0.29              $0.28             $0.29
                                  Outwards Goods                 2.20%              $0.22              $0.21             $0.21
                                  Freight                       33.88%              $3.37              $3.27             $3.31
                                  Stock Integrity                2.05%              $0.20              $0.20             $0.20

Vendor Management                 Purchase orders                4.10%              $0.41              $0.40             $0.40
                                  Reporting                      1.32%              $0.13              $0.13             $0.13

After Sales Functions             Return Courier                 1.78%              $0.18              $0.17             $0.17
                                  RMA/Warranty                   2.05%              $0.20              $0.20             $0.20

Group Functions                   Warehousing                    2.66%              $0.26              $0.26             $0.26
                                  Group Overhead                17.02%              $1.69              $1.64             $1.66

Sub Total 1 Cost Comparison
to Telecom                                                      85.51%              $8.50              $8.25             $8.35

Credit Control                    Application Processing         1.05%              $0.10              $0.10             $0.10
                                  Credit checking                1.05%              $0.10              $0.10             $0.10
                                  Creditor Management            3.16%              $0.31              $0.31             $0.31
                                  Debtor Management              3.95%              $0.39              $0.38             $0.39

                                  Coordinator/Administrator      5.27%              $0.52              $0.51             $0.51

(ii) Price to Telecom as per (i)
     with finance team and
     Telecom coordinator included                              100.00%              $9.94              $9.65             $9.77

Communica $4,000 +
$2,800/m = $3,134 - $450
existing = $2,684/m*12/per unit                                                     $0.11              $0.16             $0.27

(iii) Sub Total (ii) Costs plus
communication costs                                                                $10.05              $9.81             $9.91

Vendor Credit Terms - 30 days     14% x 60-30 days on $250 av cost                  $2.88              $2.88             $2.88

(iv) Sub Total (iii) Costs
plus Vendor Credit Terms
Allocation - 30 days                                                               $12.93             $12.69            $12.78

Vendor Credit Terms - 45 days     14% x 60-45 days on $250 av cost                  $1.44              $1.44             $1.44

(v) Sub Total (iv) Costs plus
Vendor Credit Terms
Allocation - 45 days                                                               $11.49             $11.25            $11.34
</TABLE>


<PAGE>

                                                                              52
B.   WORKING CAPITAL COSTS

o    No  adjustment  shall  be  made  in  respect  of  Equipment  supplied  by a
     Manufacturer who allows 60 or more days for payment from invoicing.

o    In respect of  Manufacturers  who allow less than 60 days for payment  from
     invoicing,  then the permitted percentage adjustment shall be calculated on
     the following basis:

               A =   B/365 x (60-C)

               Where:

               A =   the permitted percentage adjustment.

               B =   the average Westpac Banking  Corporation  indicator lending
                     rate during the previous Quarter, plus 3%;

               C =   the  average  number  of  days   allowed  by  the  relevant
                     Manufacturer for payment.


C.   ADJUSTMENT TO PRICE OF SUPPLY

     AHF(FS) = (FS x HF(FS)) - (HF(A) - HF(F))
               -----------------------------
                            FS

     Where

     AHF(OQ) =      by the relevant  the Adjusted  Handling Fee for the Forecast
                    Sales for the next Quarter.

     FS      =      the Forecast Sales for the next Quarter.


     HF(FS)  =      the  Handling  Fee for the  Forecast  Sales  as shown in the
                    relevant table in this [Schedule E].


     HF(A)   =      the  aggregate  actual  Handling  Fees charged by STG in the
                    previous Quarter.

     HF(F)   =      the  aggregate  Handling Fees forecast that should have been
                    charged by STG in the previous Quarter,  based on the actual
                    sales of Equipment for that Quarter.

     Where each of the above is calculated in  accordance  with the  spreadsheet
     referred in Part A of this Schedule.


<PAGE>

                                                                              53
                                   SCHEDULE F

                                 SERVICE LEVELS

PART A: DEALER SERVICE LEVELS

o    All orders  placed by the  appropriate  time  shown in the table  below for
     delivery to a particular address must delivered by the time set out below.


     Order Time              Delivery address       Required delivery time frame
     ---------------------------------------------------------------------------
      2.00pm                 Auckland               Same day delivery*
     10.00am                 National               Same day delivery*
      4.00pm                 National               Next da delive
     ---------------------------------------------------------------------------

     *    Urgent  deliveries  - Dealer  pays  incremental  delivery  costs  over
          standard delivery costs.

o    Note:  Dealer will be permitted a reasonable  amount of additional time for
     high volume orders.

PART B: CUSTOMER SERVICE LEVELS

o    All Customer orders are to be delivered within 24 hours of communication of
     order to STG, except where:

     o    Customer requests otherwise; or

     o    at the time that delivery is attempted, the Customer is not available,
          in which case the  delivery  shall  take place as soon as  practicable
          thereafter.

o    All customer  orders via ICMS must be processed by STG in its systems,  its
     systems  information  updated,  and the order must be staged on to the next
     ICMS work group, within four hours of receipt of the order.


<PAGE>

                                                                              54

                                   SCHEDULE G

                    WEEKLY AND MONTHLY REPORTING REQUIREMENTS

Information  shall be supplied on a weekly and monthly basis,  in such format as
is reasonably requested by Telecom, on:

o    STG's stock levels at the date of the report;

o    total volumes of stock levels sold, including details on:

     o    Electronic Serial Number (ESN) in hexadecimal format;

     o    Unique stock identifier (Stock Code);

     o    Debtor and  delivery  address  fields by product type that product has
          been dispatched to;

     o    Date of dispatch and order number;

     o    Dealer code;

     o    Storage report - date product forecasted;

                         - date product received by STG;

     o    Number of returns - product type, debtor and delivery address;

     o    Number of out of box failures by product  type;

o    Updated information on new stock codes and configurations as new product is
     introduced into the market place;

o    Performance  measures  of  courier  company  delivery  times,   successful/
     unsuccessful weekly and monthly.

o    STG's compliance with the service levels in [Schedule F];

o    STG's compliance with the payment terms of agreements with Manufacturers;

o    The accuracy of the forecasting and order process.

The  above  information  shall be  reported  on  separately  for  Telecom  to Go
connections.