Waihemo Timber Company Limited Notice of Appointment of Receivers and Managers Pursuant to Section 8 of the Receiverships Act 1993 Murray Neil Frost and Lindsay John Brown, chartered accountants (whose offices are Deloitte Touche Tohmatsu, Otago House, 481 Moray Place, Dunedin), hereby give notice that on the 11th day of December 1996, Bank of New Zealand appointed them jointly and severally as receivers and managers of the property of Waihemo Timber Company Limited under the powers contained in an instrument dated the 20th day of April 1990. The receivers and managers have been appointed in respect of all of the company's real and personal property and all its assets and effects, whatsoever and wheresoever, both present and future, including its uncalled and unpaid capital. Dated this 11th day of December 1996. Signed by Murray Neil Frost and Lindsay John Brown in the presence of: ALISON HOLDOM, Accountant. Dunedin.