Telecom Corporation of New Zealand Limited

Rule 3.19A.2
Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as
available.  Information and documents given to ASX become ASX’s property and
be made public.
Introduced 30/9/2001.

Name of entity TELECOM CORPORATION OF NEW ZEALAND LIMITED
ABN 050 611 277

We (the entity) give ASX the following information under listing rule 3.19A.2
and as agent for the director for the purposes of section 205G of the
Corporations Act.

Name of Director	Michael Tyler
Date of last notice	11 September 2007

Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by
the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of
definition of “notifiable interest of a director” should be disclosed in this
part.

Direct or indirect interest	DIRECT
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant interest.
	N/A
Date of change	21 September 2007
No. of securities held prior to change	1,550 American Depositary Receipts
Class	ORDINARY
Number acquired
Number disposed	Share Cancellation resulting in ratio of American Depositary
Receipts to Telecom ordinary shares changing from (1:8) to (1:5)

Value/Consideration
Note: If consideration is non-cash, provide details and estimated valuation
	US$5,108.21 ($3.29 consideration per ADR)
No. of securities held after change	2,204 American Depositary Receipts
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back	Share
Cancellation resulting in ratio of American Depositary Receipts to Telecom
ordinary shares changing from (1:8) to (1:5)


Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of
the definition of “notifiable interest of a director” should be disclosed in
this part.

Detail of contract

Nature of interest


Name of registered holder
(if issued securities)
Date of change

No. and class of securities to which interest related prior to change
Note: Details are only required for a contract in relation to which the
has changed

Interest acquired

Interest disposed

Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation

Interest after change

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Telecom Corporation of New Zealand Limited

Date: 16/10/07	By:	Craig Mulholland
	Name:	Craig Mulholland
	Title:	Company Secretary

Telecom Corporation of New Zealand Limited ———————————————————————————————————
(Translation of registrant’s name into English)

New Zealand ———————————————————————————————————
(Jurisdiction of incorporation or organization)

Level 8, North Tower Telecom House 68 Jervois Quay Wellington New Zealand
——————————————————————————————————— (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [x] Form 20-F [ ] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: [ ] Yes [x] No