Telecom Corporation of New Zealand Limited



Craig Mulholland
Company Secretary

Telecom House, 68 Jervois Quay, P O Box 570, Wellington, New Zealand
Telephone (04) 498 9059 • Fax: (64 4) 471 0076
Mobile 027 623 8570
e-mail craig.mulholland@telecom.co.nz

14 December 2007
Market Information Services Section
New Zealand Exchange Limited
Wellington
NOTIFICATION OF ALLOTMENT OF SECURITIES

For the purposes of Listing Rule 7.12.1 of the NZSX Listing Rules, Telecom
Corporation of New Zealand Limited advises the following securities have been
issued pursuant to the Dividend Reinvestment Plan:
a) Class of Security	Ordinary Shares
ISIN	NZTELE0001S4

b) Number Issued
	5,014,329
c) Issue Price
	$4.26
d) Payment terms
	Cash Payment
e) Amount Paid Up	In full
f) Percentage of total class issued
	0.27%

g) Reason for issue	Issue of shares under the Dividend Re-Investment Plan

h) Authority for issue
	Dividend Re-Investment Plan
i) Terms of Issue
	The shares rank pari passu with the existing ordinary shares

j) Total number of securities after issue
	1,825,558,448

l) Date of issue
	7 December 2007

Yours faithfully




Craig Mulholland
Group Company Secretary

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: 13 December 2007	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