TELSTRA has warned its 1.4 million investors about offers for their shares by a 22-year-old Queenslander twice fined by the corporate cops.

National Capital Corporation Pty Ltd, a $100 shelf company incorporated three weeks ago, has made two offers for Telstra shares, one at $3.01 a share, the other at $1.33.

National Capital Corp's only director is Ben Hirvi, of Shailer Park, south of Brisbane. He was born on May 1, 1988.

The $3.01 deal may look attractive on the surface when compared to yesterday's closing price of $2.64.

But they will only be paid for 10 per cent of their shares within 14 days of accepting the offer and the remaining 90 per cent in 26 weeks.

"We are offering you ($0.35 per share) more than the market value of your shares," the offer letter says, before disclosing under a sub-heading the length of time it will take to get paid.

Last night Telstra company secretary Carmel Mulhern said it had raised the unsolicited offers with the Australian Securities & Investments Commission after shareholders alerted it.

"These offers have no association with Telstra and any shareholder who receives an offer should not accept it without seeking independent financial advice on it and all of its terms," Ms Mulhern said.

Continued P70ASIC fined Mr Hirvi twice in 2008 over six offences under the Corporations Act.