Auckland (2 March 2007) - The New Zealand Superannuation Fund has announced the appointment of eSecLending as its third-party provider to manage its securities lending programme.

The Fund decided last July to implement a securities lending programme to capture additional revenue by lending its securities to approved borrowers.

The Fund decided on eSecLending to manage this programme, following a comprehensive selection process. eSecLending specialises in managing customised securities lending programmes via an auction model that achieves optimal returns for the Fund as well as minimizes risk.

eSecLending has subsequently conducted a lending auction in global equity and fixed income assets on behalf of the Fund. The securities portfolios were awarded for a one-year term, after which the lending rights to the securities will be re-auctioned.

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For more information please contact:

Karine Fox, Head of Communications, New Zealand Superannuation Fund, +64 9 373 8963 or +64 21 351 141.

Notes to Editors:

About eSecLending:

eSecLending is a global securities lending manager and a leading provider and administrator of customized securities lending programs. Its programs attract some of the world's largest and most sophisticated asset gatherers, including pension funds, mutual funds, investment managers and insurance companies. Over the past six years, the company has auctioned over US$1 trillion in assets and has achieved significant growth in its client base, lendable assets, assets on loan and assets under management. The firm awards principal securities lending business through a competitive auction process that has provided clients with higher returns compared to traditional program structures and improved transparency and objective criteria upon which to make decisions.  eSecLending maintains offices in Boston, London and Burlington, Vermont.  Securities Finance Trust Company, an eSecLending company, performs all regulated business activities. For more information visit www.eseclending.com