Posted on 28-3-2003

Sale Of Domainz

InternetNZ is in the process of divesting DOMAINZ, as it will not be
appropriate for InternetNZ to own a Registrar after 30 September 2003.

From preliminary indications, there is significant interest in the
availability of DOMAINZ for purchase. The CEO of DOMAINZ has notified
InternetNZ that the staff are interested in a management buyout of
DOMAINZ. This bid would include current Chair Bob Gray, Director Roger De
Salis, as well as the CEO Derek Locke and other staff.

Bob Gray and Derek Locke have therefore resigned from the DOMAINZ Future
Taskforce which has been managing the sale process and James Scott has been
appointed as an additional DOMAINZ representative on the Taskforce.

The Board of DOMAINZ has also set up an independent committee of the Board
consisting of Donna Hiser, James Scott and Drew Whittle. This committee
has been delegated full authority to act for the Board on all issues
relating to the sale process.

InternetNZ is still assessing options for the sale process. The Society
will be utilising experienced advisers to establish a process which will
best serve the public interest objectives of the Society, secures a fair
price, and is equitable to prospective purchasers. This will include a
conflict of interest regime to manage any interest from Domainz management
or others who have supported the work of the Society with their time, in
the past.
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E-mail: david@farrar.com
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