Lombard Bank Malta plc and New Zealand Post have reached an agreement whereby Lombard Bank will purchase a 35 per cent share in Maltapost plc currently held by Transend Worldwide Ltd, a wholly owned subsidiary of New Zealand Post.

Transend Worldwide Ltd. has been a shareholder in Maltapost since 2002. The disposal of this shareholding follows a decision by the company to focus on its core activity, which is that of providing postal consultancy services. For a number of years Transend Worldwide Ltd held a management contract with Maltapost, which expired in March 2005.

Lombard Bank considers this investment to be of strategic importance that should result in added value to the stakeholders of both the bank and Maltapost.

The bank shall seek to contribute its experience in the service industry by enhancing the range of products and services at Maltapost thus meeting the needs and expectations of the community.

Approval of this transaction has been granted by the Malta Financial Services Authority.