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26 September 1996

News release

Technicom Internet Services Limited - advertisement prohibited

The Securities Commission, acting under the authority of section 44A of the Securities Act 1978, has made an order prohibiting the distribution of advertisements in relation to shares in Technicom Internet Services Limited.

The Commission was of the opinion that the offering of the shares did not comply with section 33 of the Securities Act 1978. This section applies to offers of securities to the public for subscription. It requires such an offer to be made in, or accompanied by, a registered prospectus or in an "authorised advertisement".

Technicom Internet Services Limited is based in Palmerston North. Its Managing Director and shareholder is Gerry Donachie. The company promotes itself as operating a wholesale internet service in New Zealand.

Members of the public should exercise before paying or committing money to Technicom Internet Services Limited.

Norman F Miller
Senior Executive (Compliance)