Pied Holdings Limited (in liquidation) (``the company'') Notice of Appointment of Liquidators Pursuant to Section 255 (2) (a) of the Companies Act 1993 Subsequent to the directors resolving that the company would, on the appointment of liquidators, be able to pay its debts, Richard Dale Agnew and David Bryden Davidson, chartered accountants of Auckland, were appointed jointly and severally as liquidators of the company by special resolution of the members on the 2nd day of December 1997, the date the liquidation commenced. Notice to Creditors to Claim Pursuant to Liquidation Regulation 12 of the Companies Act 1993 Notice is hereby given that as liquidators of the company, we fix the 19th day of December 1997, as the day on or before which the creditors of the company are to make their claims, and to establish any priority their claims may have under section 312 of the Companies Act 1993, or to be excluded from the benefit of any distribution made before the debts are claimed or, as the case may be, from objecting to the distribution. Dated this 2nd day of December 1997. R. D. AGNEW, Liquidator. Note: The company is solvent and the liquidation is a result of the restructuring of the affairs of the shareholders. Creditors and Members May Direct Inquiries to: Mr R. D. Agnew, Coopers & Lybrand, P.O. Box 48, Auckland. Telephone: (09) 358 4448. Facsimile: (09) 358 1214.