Biscay Greetings N.Z. Limited Notice of Appointment of Receivers and Managers Biscay Greetings N.Z. Limited, being the assignee of a debenture in favour of ANZ Banking Group (New Zealand) Limited, dated the 24th day of January 1991 and registered at the Companies Office at Auckland on the 5th day of January 1991 (``the debenture'') issued by Biscay Greetings N.Z. Limited (``the company''), hereby gives notice that on the 2nd day of March 1994, under the powers contained in the debenture, it appointed Alan James Cunningham and John Joseph Cregten, chartered accountants, both of Auckland, jointly and severally as receivers and managers of all the undertaking, property and assets of the company. The office of the receivers and managers is at the offices of Ernst & Young, National Mutual Centre 3741 Shortland Street, Auckland. Dated this 8th day of March 1994. Biscay Greetings N.Z. Limited, by its solicitors, Phillips Fox, per: R. A. COOPER.