1. New Zealand Stock Exchange and Project Firstep
Graeme Sinclair
Co-Chair of XBRL NZ

2. What is Project Firstep?
To implement XBRL into eight of the largest companies on the NZX to enable them to send their market announcement updates to NZX electronically

3. Who is involved in Project Firstep?
Collaboration involving
8 of the largest listed companies on the NZX
The Big 4
NZX
ICANZ

4. Why Project Firstep? Risk identified in a full XBRL implementation
Low levels of experience in NZ with XBRL implementations
An opportunity for a quantum leap through collaboration
To get the ball rolling in NZ

5. How is Project Firstep tracking?
Eight listed companies have agreed to particpate
Representatives attended a briefing on 22 October 2003
Briefing discussed the costs and benefits of the project
A full media launch is planned for 22 November 2003
Implementation is expected to occur between November 2003 and March 2004

6. Other interested parties?
Statistics NZ
NZ Securities Commission

7. The result?
Will be delivered at the Ninth XBRL Conference in May 2004 in Auckland, New Zealand
See you all there!!