Valesco Acceptances Limited Notice of Appointment of Receivers Pursuant to Section 8 of the Receiverships Act 1993 Notice is hereby given that Bruce McCallum and David Ross Petterson, chartered accountants of Wellington, were appointed as receivers and managers of the property of Valesco Acceptances Limited on the 9th day of January 1995 under the powers contained in a mortgage debenture dated the 2nd day of May 1989. The receivers have been appointed in respect of all the company's undertaking and all its assets and effects, whatsoever and wheresoever, both present and future, including its uncalled and unpaid capital. The offices of the receivers and managers are at McCallum Petterson & Co., Chartered Accountants, Level Eight, City Tower, 95 Customhouse Quay, P.O. Box 3156, Wellington. Facsimile: (04) 499 7784. Telephone: (04) 499 7796. Dated this 12th day of January 1995.