Trans-Tasman Business Award Winners Announced

MEDIA RELEASE
For immediate release
Monday, 25 September 2006

Trans-Tasman Excellence - Business Award Winners Announced

Winners of the 2006 Trans-Tasman Business Awards were announced this afternoon.

The awards celebrate excellence by businesses that operate in New Zealand and Australia and were presented at functions held simultaneously in Auckland and Sydney.

Sponsored by Telstra and TelstraClear, the awards cover five categories that recognise all sizes of businesses and both public and private sectors.

Group Managing Director of Telstra Enterprise and Government and Chairman of TelstraClear, David Thodey, said success on both sides of the Tasman continued to prove elusive to many businesses, and it was only those that understood and worked with the differences and synergies of both markets that achieved it.

“Our sponsorship of the awards, now in their second year, highlights our own efforts in this regard and makes absolute sense given the services we provide make doing business easier in both countries,” said Mr Thodey.

TelstraClear Chief Executive Dr Allan Freeth says the Trans-Tasman Business Awards are a unique opportunity for businesses to be recognised for their achievements and participation in the Australasian market.

“As witnessed here today, the 2006 Trans-Tasman Business Awards showcase the excellence that is being achieved through the coming together of Australian and New Zealand business. Congratulations to today’s winners, and I look forward to a similar high standard of entries for the 2007 Awards.”

The winners are:

Best Business Collaboration Award
This Award recognises a small or large business operating in both countries that has successfully collaborated to jointly expand their business in the Trans-Tasman market.

Winner: Fonterra Co-operative Group Ltd

Environmental, Social, Government and Community Award:
This award recognises a business that has demonstrated a company-wide focus and commitment to environmental management and social responsibility in both Australia and New Zealand. The award recognises a public sector, statutory body or not-for-profit organisation that has successfully developed initiatives to build stronger Trans-Tasman relationships - though harmonising or integrating standards/regulations or promoting trade relations.

Joint winners:
Financial Reporting Standards Board/Australian Accounting Standards Board
and
Australian Customs Service/New Zealand Customs Service

Innovation of the Year
This award recognises a joint initiative between an Australian and New Zealand business that has collaboratively and creatively worked together to successfully market a product, service, technology or industry-sector within another international geographic market (outside Australia and New Zealand).

Winner: VECommerce Limited

Trans-Tasman Business of the Year
This is the premiere award at the Trans-Tasman Business Awards honouring the ‘best of the best’.

Winner: Fonterra Co-operative Group Ltd

Trans-Tasman Business Leader of the Year
This award recognises the person who has, through success, personal commitment, and dedication made a valuable contribution to the broader Trans-Tasman business community.

Winner: John McFarlane Chief Executive Officer - ANZ Banking Group

The awards were open to all businesses that have been collaborating on Trans-Tasman services and solutions providing they have been operating continuously in either Australia or New Zealand, or both, for at least three years as at 30 June 2006.

The Awards were possible thanks to the support of TelstraClear, Telstra, Tourism Australia, New Zealand Trade and Enterprise, Investment New Zealand, SKYCITY Entertainment Group, Trans-Tasman Business Circle, Carlson Wagonlit Travel, DHL and PriceWaterhouseCoopers.

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Winner Portfolios

VeCommerce Limited
VeCommerce Limited is a global leader in the provision of voice self-service and speaker verification solutions. VeCommerce has been a pioneer in the industry since 1997, and is a recognised market leader. VeCommerce was one of the first organisations in the world to recognise the business benefits of voice self-service solutions utilising speech recognition and speaker verification technology.

John McFarlane - CEO Australia and New Zealand Banking Group Limited
The acquisition of National Bank New Zealand in December 2003 was the largest ever foreign direct investment in New Zealand. John McFarlane pioneered the two-brand strategy which ensured that both National Bank New Zealand and the ANZ brands and branch networks were preserved. The two-brand strategy has enable John McFarlane to deliver a very different acquisition and demonstrate that it is possible to make a major acquisition that benefits all stakeholders, customers, staff and the community. What is more, while ANZ National Bank is owned by an Australian company it has maintained a truly New Zealand identity and prospered in partnership with its Australian owner.

Australian Customs Service/New Zealand Customs Service
The role of the Australian and New Zealand Customs Service is to investigate suspected breeches of legislation for which Customs has investigatory responsibility. The purpose of these investigations is to ensure that offenders are prosecuted where appropriate and to deter others from offending.

The Australian Customs Service and the New Zealand Customs Service work closely through successful partnerships and trans-national law enforcement initiatives. The cooperative spirit and continued joint endeavours serves as an example of the commitment of both agencies to fighting Trans-Tasman environmental crime.

Fonterra
Established in New Zealand in 2001, Fonterra is a global dairy business company. Fonterra is the largest dairy ingredients company in the world, and is also New Zealand’s largest company. It has revenues of NZ$13 billion, employs over 18,000 people and has a supply chain spanning 140 countries.

Fonterra is unique in Australia and New Zealand as the most globalised, Trans-Tasman company. By establishing and strengthening Australasia as its home base, Fonterra is taking Australian and New Zealand dairy products and ingredients to the world.

Financial Reporting Standards Board/Australian Accounting Standards Board
The Financial Reporting Standards Board and the Australian Accounting Standards Board has the responsibility to set their respective national accounting standards to be followed by businesses and other entities when preparing financial statements.

The members and staff at both organisations have willingly moved from a position of individual jurisdiction mindset to a position where the wider Trans-Tasman considerations are paramount in all aspects of the work undertaken by each board.

Trans-Tasman Business Awards

2006 Fact Sheet & Winner Details

The Trans-Tasman Business Awards are a unique opportunity to showcase the excellence that is being achieved through Australian and New Zealand business.

Running for its second year, the Awards are a respected and prestigious focal point of business excellence within the Trans-Tasman business community.

The Awards cover five Award categories that recognise all sizes of businesses - both public and private sectors.
The Awards are proudly sponsored by Telstra & TelstraClear - in association with the Trans-Tasman Business Circle, Austrade, New Zealand Trade & Enterprise and Investment New Zealand.

Judges

A distinguished panel of judges from Australia and New Zealand, drawn from relevant business disciplines, reviewed all entries.

Australia

John Weiss - CEO, Trans-Tasman Business Circle
Tim Green - Trade Commissioner, New Zealand Trade & Enterprise
Rosemary Howard - Exec Director Fixed Products & Packaging - Telstra Corporation Ltd

New Zealand

Phillip Meyer - Professional director
Alison Paterson - Professional director
Derek McCormack, Vice Chancellor, Auckland University of Technology

In addition to the individual Award category criteria, the judging panel was also looking at four key principles that underpin the Awards program. They are:

1. Achievement - Accomplish, gain or reach by effort.
2. Innovation - The act of introducing something new.
3. Leadership - Capacity or ability to lead.
4. Trans-Tasman Collaboration - Collaboration, for the purpose of the Awards, means at least two businesses (whether related entities or not) that are working together between Australia and New Zealand.

Trans-Tasman Business Awards 2006 Winners

Category - Business of the Year

Winner - Fonterra
Fonterra is the largest dairy ingredients company in the world, and is also New Zealand’s largest company. It has revenues of NZ$13 billion, employs more than 18,000 people and has a supply chain spanning 140 countries.

Fonterra is unique in Australia and New Zealand as the most globalised, Trans-Tasman company. By establishing and strengthening Australasia as its home base, Fonterra is taking Australian and New Zealand dairy products and ingredients to the world.

The judges recognised Fonterra’s drive to strengthen their position in the Trans- Tasman market.

Category - Business Leader of the Year

Winner John McFarlane - CEO Australia and New Zealand Banking Group Limited
The acquisition of National Bank New Zealand was the largest ever foreign direct investment in New Zealand. John McFarlane pioneered the two brand strategy which ensured that both National Bank New Zealand and the ANZ brands and branch networks were preserved. The two brand strategy has enable John McFarlane to deliver a very different acquisition and demonstrate that it is possible to make a major acquisition that benefits all stakeholders, customers, staff and the community. What is more, while ANZ National Bank is owned by an Australian company it has maintained a truly New Zealand identity and prospered in partnership with its Australian owner.

The judges recognised the vision and leadership demonstrated by Mr McFarlane which is reflected in the success of the company.

Category - Best Business Collaboration

Winner - Fonterra
Australia represents Fonterra’s biggest offshore investment with revenues of almost A$2 billion. The judges were especially impressed that a business of this size recognises that every part of the dairy chain must be profitable. Fonterra views its local diary farmers as both suppliers and partners in their business. This thinking starts at the farm, extends to the tanker drivers that collect the milk, the local factories that process the milk, and the customers who buy and on-sell the finished products.

Category - Environment, Social, Government and Community

Joint Winners -

 Financial Reporting Standards Board/Australian Accounting Standards Board
 Australian Customs Service/New Zealand Customs Service

Financial Reporting Standards Board/Australian Accounting Standards Board
The judges recognised that the members and staff of both the Australian Accounting Standards Board and the Financial Reporting Standards Board have willingly moved, in a short period of time, from a position of individual jurisdiction mindset to a position where wider Trans-Tasman considerations are paramount in all aspects of the work undertaken by each board. Both Boards have demonstrated exceptional vision and leadership in demonstrating how Trans-Tasman standards setting in any field can be successful; and how we can all assist in the establishment of a single economic market between Australia and New Zealand.

Australian Customs Service/New Zealand Customs Service
The Australian Customs Service and the New Zealand Customs Service work closely through successful partnerships and trans-national law enforcement initiatives. Both entities share leading edge skills, expertise, information and intelligence in their work. The cooperative spirit and continued joint endeavours serves as an example of the commitment of both agencies to fighting Trans-Tasman environmental crime.

Category - Innovation of the Year

Winner - VeCommerce
The judges recognised VeCommerce Limited as a global leader in the provision of voice self-service and speaker verification solutions. VeCommerce was one of the first organisations in the world to recognise the business benefits of voice self-service solutions utilising speech recognition and speaker verification technology.

VeCommerce demonstrated innovation, maximising the unique skills on both sides of the Tasman to successfully launch products such as VeSecure onto the international market.

Further Information

Further information on the Trans-Tasman Business Awards can be found on the official website - www.transtasman.org

ENDS

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