Reduction of Capital In the High Court of New Zealand, Auckland Registry M. 1378/95 In the matter of the Companies Act 1955, and in the matter of Ports of Auckland Limited, a duly incorporated company having its registered office at Princes Wharf, Quay Street, Auckland and carrying on business as a provider of port services Applicant: Notice is hereby given that the order of the High Court of New Zealand, dated 13 November 1995, confirming the reduction of the authorised capital of the above-named company from $500,000,000 to $433,746,894 and the reduction of the issued capital of the above-named company from $198,759,318 to $132,506,212 and the minute approved by the Court were registered by the District Registrar of Companies at Auckland on 16 November 1995. The said minute is in the words and figures following: ``The authorised capital of Ports of Auckland Limited is $433,746,894 divided into 433 746 894 shares of $1 each, having been reduced from $500,000,000 divided into 500 000 000 shares of $1 each and the issued capital is $132,506,212 divided into 132 506 212 fully paid ordinary shares of $1 each having been reduced from $198,759,318 divided into 198 759 318 fully paid ordinary shares of $1 each.'' Dated this 16th day of November 1995. RUSSELL McVEAGH McKENZIE BARTLEET & CO, Solicitors for the Company.