American Life Insurance Company Notice of Ceasing to Carry on Business in New Zealand Pursuant to Section 341 of the Companies Act 1993 American Life Insurance Company, a company duly incorporated in the State of Delaware, United States of America, having a place of business in Auckland, New Zealand, gives notice that it will cease to carry on business in New Zealand on the 30th day of April 1997. (The High Court of Auckland has approved a scheme of arrangement in which all the policies issued by the New Zealand branch of American Life Insurance Company have been transferred to a related company American International Assurance (Bermuda) Limited, acting through its New Zealand branch.) PHILLIPS FOX, Agents for the Company.