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For Personal Use Only 22nd May 2013 The Manager Company Announcements Office Australian Stock Exchange Exchange Plaza, 2 The Esplanade, Perth WA 6000 Dear Sir/Madam, iiNet reaches agreement with NBN Co for sale of TransACT FTTP network 22 May 2013: iiNet Limited (ASX:IIN) has reached an agreement with NBN Co for the sale of TransACT’s fibre- to-the-premises (FTTP) network in the ACT region. The TransACT FTTP network covers approximately 8,500 premises with a further 4,500 premises planned or already under construction. Under the agreement, iiNet will receive $9 million cash for the existing premises passed. Additional equivalent per premise consideration will be received as the remaining premises are passed or connected. The transaction is not expected to result in a material net impact to the iiNet Limited income statement in FY13 or FY14. TransACT will complete construction of pit-and pipe infrastructure in some new estates where agreements are in place until 2017, and transfer ownership to NBN Co for no additional charge. The agreement also provides NBN Co with long term access to additional underground duct infrastructure within the ACT. iiNet Chief Executive Officer, Michael Malone, said the deal is a positive one for iiNet and for TransACT’s customers. “This agreement means that TransACT’s FTTP customers will soon be able to experience the benefits that come from being on the NBN. We’ll be communicating with our FTTP customers throughout the process to ensure a smooth transition over the next twelve months,” he said. The execution of the deal is subject to a number of conditions precedent, including ACCC clearance, and is expected to complete in the next two months. – ENDS – For further information please contact: For personal use only Michael Malone David Buckingham Chief Executive Officer Chief Financial Officer & Company Secretary E: [email protected] E: [email protected] P: +61 8 9214 2207 P: +61 8 9213 1358 About iiNet iiNet is Australia’s second largest DSL Internet Service Provider (ISP) and the leading challenger in the telecommunications market. We’re a publicly listed, ASX 200 company and employ more than 2,000 inquisitive staff across three countries. We maintain our own super-fast broadband network and support over 1.7 million broadband, telephony and Internet Protocol TV (IPTV) services nationwide. We’re committed to making it simple for all Australians to connect across both our own network and on the NBN. Our vision is to lead the market with products that harness the potential of the Internet and then differentiate with award-winning customer service. A lot has changed since our CEO founded iiNet in a suburban garage back in 1993 and the broadband landscape continues to evolve. What hasn’t changed is our passion for the transformative benefits of the Internet and our commitment to helping Australians connect better. About TransACT As Canberra’s very own telecommunications company, TransACT is proud to employ local people to deliver tailored communications solutions to the Canberra community. In 2011 TransACT was acquired by iiNet, Australia’s second largest DSL Internet Service Provider (ISP). The iiNet Group is committed to providing their customers with reliable, cost effective products and services along with round the clock, plain speaking customer service. For personal use only A full list of current awards can be viewed at iiNet Awards http://www.iinet.net.au/about/awards.html .
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