Notice of Dividend In the matter of the Companies Act 1955, and in the matter of Willy & Raos Paper (NZ) Limited (in liquidation): Pursuant to rule 98 of the Companies Winding Up Rules 1956, I, Michael Stiassny, joint and several liquidator of Willy & Raos Paper (NZ) Limited, hereby give notice that an interim dividend of 15 cents in the dollar has been declared payable to all creditors whose proofs have been admitted in the above-named liquidation. Dated this 19th day of September 1995.