Vexma Developments Limited HN. 587617 Notice of Appointment of Receiver and Manager Pursuant to Section 348 (1) (a) of the Companies Act 1955 To: The Directors, Vexma Developments Limited. I, Martin Quinton Fine, solicitor of Hamilton, hereby give notice that on the 13th day of May 1994, I was appointed receiver and manager of all your company's property and all its assets and effects, both present and future, including its unpaid call, and its uncalled and unpaid capital, present and future, under the powers contained in an instrument dated the 3rd day of August 1993, between your company as grantor and MBL Investments Limited, a duly incorporated company at Hamilton and an instrument dated the 10th day of December 1993, between your company as grantor and McClunie Birch Limited, a duly incorporated company at Hamilton, as debenture holders. Dated the 17th day of May 1994. M. Q. FINE, Solicitor. Address of Receiver: Care of Drew Flyger, Chartered Accountants, Fifth Floor, Minolta House, P.O. Box 1298, Hamilton.