Rimu Gold Mining Limited (in receivership and liquidation) (``Rimu Gold'') HK. 154010 Notice of Appointment of Receivers and Managers Pursuant to Section 8 (1) (b) of the Receiverships Act 1993 We, Gary Traveller and David Muir Gray, chartered accountants, both of Wellington, hereby give notice that on 20 May 1996, we were appointed to act jointly and severally as receivers and managers of the property of Rimu Gold under the powers contained in a debenture dated 3 July 1994. The receivers and managers have been appointed in respect of all Rimu Gold's undertaking and all its property and assets, whatsoever and wheresoever, both present and future, including the uncalled and unpaid capital of Rimu Gold for the time being. The previous receivers and managers, David Denis Chrichton and Trevor Francis Thornton, chartered accountants, both of Christchurch, retired on 8 May 1996. The offices of the receivers and managers are at Price Waterhouse, 1117 Church Street (P.O. Box 1327), Wellington. Please direct inquiries to Vivian Fatupaito at the above address or on telephone (04) 385 5255 or facsimile (04) 473 7515. Dated this 27th day of May 1996. GARY TRAVELLER, Receiver and Manager. DAVID MUIR GRAY, Receiver and Manager.