NZ ABC Learning Centres NOT In Receivership

FOR IMMEDIATE RELEASE

6 November 2008, 3.00PM

New Zealand’s ABC Learning Centres Not In Receivership

ABC Developmental Learning Centres (New Zealand) Ltd is NOT in receivership.

ABC Developmental Learning Centres (New Zealand) General Manager, Craig Presland, is pleased to advise that the New Zealand business is not included in a list of companies associated with ABC Group Australia that were today placed in the hands of receivers.

``The New Zealand business is currently operating as a profitable and successful, stand alone entity. We have 119 centres around the country with another four due to join the group shortly. We currently provide quality care for more than 7,700 children and enjoy occupancy rates of above 80 per cent nationally.

``We realise that media speculation about the future of ABC Group has weighed heavily on our staff, our parents and guardians. We are pleased to be able to say that thanks to their ongoing support, we are in a good position,’’ Mr Presland said.

ENDS

Editorial notes:

• ABC Learning Centres established in New Zealand in 2003

• 119 ABC Learning Centres, another 4 planned over the next month or so.

• 79 in North Island

• 40 in South Island

• 7,720 children

• 1,442 permanent staff, plus another 15 at the NZ College of ECE

• 694 casual staff

• The largest early education and childcare operator in New Zealand

• Owners of the NZ College of Early Childhood Education in Christchurch

• One of the highest ratios of fully trained early childhood teachers within NZ

• Occupancy levels of above 80% nationally

• Major multi-million dollar refurbishment and facility upgrade programme undertaken over the past 5 years

• GM Craig Presland has been in the role for only three weeks.

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