Telecom Corporation of New Zealand Limited

NOTIFICATION OF ALLOTMENT OF SECURITIES - CORRECTION

On Friday, 7 March 2008 an incorrect Appendix 3B was filed in error.  The
correct Appendix 3B is attached to this letter.
The total number of Telecom shares currently on issue is 1,820,266,820, as per
the attached Appendix 3B.

Yours faithfully


Craig Mulholland
Group Company Secretary

Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B

New issue announcement,
application for quotation of additional securities
and agreement

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 1/7/96.  Origin: Appendix 5.  Amended 1/7/98, 1/9/99, 1/7/2000,
30/9/2001, 11/3/2002.


Name of entity
Telecom Corporation of New Zealand Limited

ARBN
050 611 277

We (the entity) give ASX the following information.


Part 1   All issues
You must complete the relevant sections (attach sheets if there is not enough
space).

1	+Class of +securities issued or to be issued
	Ordinary shares

2	Number of +securities issued or to be issued (if known) or maximum number
which may be issued
	6,347

3	Principal terms of the +securities (eg, if options, exercise price and expiry
date; if partly paid +securities, the amount outstanding and due dates for
payment; if +convertible securities, the conversion price and dates for
conversion)	The shares rank pari passu with the existing ordinary shares.








4	Do the +securities rank equally in all respects from the date of allotment
with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:
•	the date from which they do
•	the extent to which they participate for the next dividend, (in the case of a
trust, distribution) or interest payment
•	the extent to which they do not rank equally, other than in relation to the
next dividend, distribution or interest payment	YES

5	Issue price or consideration
	Nil

6
Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify
those assets)
	Employee Incentive Schemes

7	Dates of entering +securities into uncertificated holdings or despatch of
certificates
	6 March 2008

		Number	+Class
8	Number and +class of all +securities quoted on ASX (including the securities
in clause 2 if applicable)
	1,820,266,820
	Ordinary
		Number	+Class
9	Number and +class of all +securities not quoted on ASX (including the
securities in clause 2 if applicable)


	0	0



10	Dividend policy (in the case of a trust, distribution policy) on the
increased capital (interests)	The shares rank pari passu with existing shares.


Part 2    Bonus issue or pro rata issue

11	Is security holder approval required?


12	Is the issue renounceable or non-renounceable?

13	Ratio in which the +securities will be offered

14	+Class of +securities to which the offer relates

15	+Record date to determine entitlements


16	Will holdings on different registers (or subregisters) be aggregated for
calculating entitlements?

17	Policy for deciding entitlements in relation to fractions


18	Names of countries in which the entity has +security holders who will not be
sent new issue documents
Note: Security holders must be told how their entitlements are to be dealt with.
Cross reference: rule 7.7.

19	Closing date for receipt of acceptances or renunciations

20	Names of any underwriters



21	Amount of any underwriting fee or commission

22	Names of any brokers to the issue



23	Fee or commission payable to the  broker to the issue

24	Amount of any handling fee payable to brokers who lodge acceptances or
renunciations on behalf of +security holders

25	If the issue is contingent on +security holders’ approval, the date of the
meeting

26	Date entitlement and acceptance form and prospectus or Product Disclosure
Statement will be sent to persons entitled

27	If the entity has issued options, and the terms entitle option holders to
participate on exercise, the date on which notices will be sent to option
holders

28	Date rights trading will begin (if applicable)

29	Date rights trading will end (if applicable)



30	How do +security holders sell their entitlements in full through a broker?

31	How do +security holders sell part of their entitlements through a broker
accept for the balance?



32	How do +security holders dispose of their entitlements (except by sale
through a broker)?

33	+Despatch date




Part 3   Quotation of securities
You need only complete this section if you are applying for quotation of
securities

34	Type of securities
(tick one)

(a)	0
Securities described in Part 1


(b)	0
All other securities
Example: restricted securities at the end of the escrowed period, partly paid
securities that become fully paid, employee incentive share securities when
restriction ends, securities issued on expiry or conversion of convertible
securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities
(If the additional securities do not form a new class, go to 43)

Tick to indicate you are providing the information or documents

35	0
If the +securities are +equity securities, the names of the 20 largest holders
of the additional +securities, and the number and percentage of additional
+securities held by those holders

36	0
If the +securities are +equity securities, a distribution schedule of the
additional +securities setting out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over

37	0
A copy of any trust deed for the additional +securities

(now go to 43)


Entities that have ticked box 34(b)

38	Number of securities for which +quotation is sought


39	Class of +securities for which quotation is sought


40	Do the +securities rank equally in all respects from the date of allotment
with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:
•	the date from which they do
•	the extent to which they participate for the next dividend, (in the case of a
trust, distribution) or interest payment
•	the extent to which they do not rank equally, other than in relation to the
next dividend, distribution or interest payment

41	Reason for request for quotation now
Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other
security)


		Number	+Class
42	Number and +class of all +securities quoted on ASX (including the securities
in clause 38)




(now go to 43)


All entities

Fees

43	Payment method (tick one)

	0
Cheque attached

	0
Electronic payment made
Note: Payment may be made electronically if Appendix 3B is given to ASX
electronically at the same time.

	0
Periodic payment as agreed with the home branch has been arranged
Note:  Arrangements can be made for employee incentive schemes that involve
frequent issues of securities.


Quotation agreement

1	+Quotation of our additional +securities is in ASX’s absolute discretion.
may quote the +securities on any conditions it decides.

2	We warrant the following to ASX.

•	The issue of the +securities to be quoted complies with the law and is not
an illegal purpose.

•	There is no reason why those +securities should not be granted +quotation.

•	An offer of the +securities for sale within 12 months after their issue will
not require disclosure under section 707(3) or section 1012C(6) of the
Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for
the securities in order to be able to give this warranty

•	Section 724 or section 1016E of the Corporations Act does not apply to any
applications received by us in relation to any +securities to be quoted and
no-one has any right to return any +securities to be quoted under sections 737,
738 or 1016F of the Corporations Act at the time that we request that the
+securities be quoted.

•	We warrant that if confirmation is required under section 1017F of the
Corporations Act in relation to the +securities to be quoted, it has been
provided at the time that we request that the +securities be quoted.

•	If we are a trust, we warrant that no person has the right to return the
+securities to be quoted under section 1019B of the Corporations Act at the
that we request that the +securities be quoted.

3	We will indemnify ASX to the fullest extent permitted by law in respect of
claim, action or expense arising from or connected with any breach of the
warranties in this agreement.

4	We give ASX the information and documents required by this form.  If any
information or document not available now, will give it to ASX before
of the +securities begins.  We acknowledge that ASX is relying on the
information and documents.  We warrant that they are (will be) true and
complete.

		Sign here:






...	Date: 11 March 2008
		(Group Company Secretary)


Print name: 	Craig Mulholland

== == == == ==

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: 11 March 2008	By:	Craig Mulholland
	Name:	Craig Mulholland
	Title:	Group 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