Kostock Properties Limited Notice of Appointment of Receivers and Managers We, Timothy James Reid of Coopers & Lybrand, Chartered Accountants, UDC Tower, 113119 The Terrace, Wellington and Paul Francis Lynskey of Coopers & Lybrand, Chartered Accountants, Forsyth Barr House, corner of Armagh and Colombo Streets, give notice in accordance with section 8 (1) (b) of the Receiverships Act 1993, that on the 9th day of May 1997, we were appointed receivers and managers of the property charged by a debenture dated the 3rd day of February 1997, given by Kostock Properties Limited in favour of Carter Holt Harvey Limited. T. J. REID and P. F. LYNSKEY, Joint Receivers. Dated this 9th day of May 1997. The Office Addresses of the Receivers and Managers are: Timothy James Reid, Coopers & Lybrand, Chartered Accountants, UDC Tower, 113119 The Terrace, Wellington and Paul Francis Lynskey, Coopers & Lybrand, Chartered Accountants, Forsyth Barr House, corner of Armagh and Colombo Streets, Christchurch. The property in receivership comprises all of the assets and undertaking of Kostock Properties Limited.