Graphic Print (Wellington) Limited Appointment of Receiver and Manager To: Mark Taylor (``the receiver''), 3 Hopetoun Street, Newton, Auckland. And To: Graphic Print (Wellington) Limited (``the company''), Ground Floor, Building C, 7274 Abel Smith Street, Wellington. From: John Maxwell Davy and John Martin Sjogren Strong (``the debenture holders''). 1. The debenture holders are the holder of a debenture dated the 17th day of March 1993 executed by the company (``the debenture''). 2. Pursuant to clause 5 (f), the company has ceased or threatened to cease to carry on business thereby the money secured under the debenture have become due and payable. 3. Pursuant to the debenture, the debenture holders appoint the receiver as receiver and manager of all the property of the company charged by the debenture to exercise jointly and severally every power conferred upon a receiver and manager by the debenture and by law. Dated the 5th day of December 1994. Executed by John Maxwell Davy and John Martin Sjogren Strong, in the presence of: G. PRYOR, Law Clerk to Kendall Strong & Co, Solicitors. Papatoetoe.