Smiths City Group Limited (in receivership) Notice of Creditors Scheme of Arrangement To: Creditors of Smiths City Group Limited (in receivership) and its subsidiaries. 1. On the 13th day of October 1993, a scheme of arrangement between Smiths City Group Limited (in receivership) (``SCGL'') and certain of its subsidiaries (``Smiths City Group'') was sanctioned by the High Court of New Zealand. The scheme is accordingly now binding upon Smiths City Group and the creditors affected by the scheme. 2. The creditors affected by the scheme are broadly the holders of convertible notes issued by SCGL, and trade and other creditors of the Smiths City Group as at the date of receivership of the Smiths City Group on the 1st day of May 1991. 3. Creditors (other than those referred to in 4 below) are now required to file a proof of debt with SCGL. These must be filed by the 28th day of November 1993. 4. The following creditors are NOT required to file proofs of debt: (a) Holders of convertible notes issued by SCGL; (b) Those creditors who filed a proof of debt for the purpose of the meetings of creditors held on the 23rd day of September 1993. 5. Proof of debt forms have been dispatched to all creditors other than those referred to in 4 above. If any of these creditors have not received a proof of debt form by the 6th day of November 1993, a copy may be obtained on application to SCGL at 534 Colombo Street or P.O. Box 2938, Christchurch, or by telephoning Mr Peter Crowhen, the company secretary on (03) 379 8100.