Professional Systems International Limited (in liquidation) Notice of Meeting of Creditors Notice is given that a meeting of creditors of Professional Systems International Limited (in liquidation) (``the company'') will be held at Price Waterhouse Board Room, 119 Armagh Street, Christchurch on 7 April 1995 at 10.00 a.m. Under section 215 (1) (b) (iii) a creditor has given notice requiring a meeting to be held following the appointment of Peter George Steel as liquidator on 8 March 1995 under section 211 (2) (a) of the Companies Act 1955. Business: 1. Confirm liquidators appointment: To resolve: ``That the appointment of a liquidator of the company be and is hereby confirmed''. (Liquidator to be nominated/reaffirmed at the meeting. Peter George Steel is available for appointment.) 2. Views of creditors: To determine whether to pass a resolution or resolutions setting out the views of creditors of the company. 3. Liquidation committee: To resolve: That a liquidation committee be and is hereby appointed to act with the liquidator. If the resolution is passed, to choose the members of the committee. 4. General: To deal with any other business that might properly be brought before the meeting. Report and Notice: The report and notice referred to in section 229 (2) (c) of the Companies Act 1955 (``the Act'') has been distributed to every known creditor on 14 March 1995. Creditors Not Entitled to Vote: A person will not be entitled to vote as a creditor unless, by the time the vote is taken, the creditor has made a claim under section 278 (1) or section 279 (4) of the Act and either: 1. The liquidator has admitted the claim wholly or in part either for payment or for voting purposes; or 2. The chairperson of the meeting allows the person to vote in accordance with regulation 20 of the Companies Act 1955 Liquidation Regulations 1994 (``the regulations''). A claim by an unsecured creditor under section 278 (1) of the Act is required to be in form 1 of the Schedule to the regulations. A valuation and claim by a secured creditor under section 279 (4) of the Act is required to be in form 2 of the Schedule of the regulations. Both forms are available from the liquidator. Proxies: A creditor may exercise a right to vote either by being present in person or by proxy. A proxy must be appointed by instrument in writing signed by the creditor and the instrument must state whether the appointment is for a particular meeting or a specified term not exceeding 12 months. A proxy need not be a creditor but is entitled to attend and be heard at the meeting as if a creditor. A form of instrument appointing proxy is available from the liquidator. To be effective it must be completed and forwarded to the liquidator not later than 10.00 a.m. on 5 April 1995, being 48 hours before the start of the meeting. Postal Vote: A creditor entitled to vote may exercise a right to vote by casting a postal vote in relation to any matter to be decided at the meeting. A postal vote form is available from the liquidator. To cast a vote a marked voting paper must be sent to the liquidator at Price Waterhouse not later than 10.00 a.m. on 6 April 1995, being 24 hours before the start of the meeting. Body Corporates: A body corporate which is a creditor may appoint a representative to attend the meeting on its behalf by completing a proxy form which is available from the liquidator. Inquiries: Any inquiries should be directed in the first instance to Bryce Hawkins at the office of the liquidator. Dated this 27th day of March 1995. Signed by: P. G. STEEL, Liquidator. Address of Liquidator: Price Waterhouse, Level Eleven, 119 Armagh Street (P.O. Box 13-250), Christchurch. Attention: Bryce Hawkins. Telephone: (03) 379 0040. Facsimile: (03) 379 5677.