Gerard Pacific Limited Notice of Appointment of Receivers Pursuant to Section 8 (1) of the Receiverships Act 1993 Notice is hereby given that on the 30th day of October 1997, Messrs John Cregten and Jane Muir, chartered accountants, were appointed receivers and managers of the property of Gerard Pacific Limited under the powers contained in a mortgage debenture dated the 30th day of November 1993, given by that company. The property in receivership is all of the company's undertaking, property and assets. The offices of the receivers and managers are at Level Five, the General Buildings, 29 Shortland Street (P.O. Box 532), Auckland. Dated this 31st day of October 1997. J. MUIR.