Korea Corporation Limited Notice of Appointment of Receivers and Managers Pursuant to Section 8 of the Receiverships Act 1993 Notice is hereby given that on the 22nd day of December 1997, Peter William Young of Christchurch and Kerry Thomas Stotter of Auckland, KPMG chartered accountants, were appointed as receivers and managers of the property of Korea Corporation Limited under the powers contained in a debenture dated the 17th day of February 1992, which consists of all freehold and leasehold land, fixed plant and machinery, patents, trade names, unpaid and uncalled capital and goodwill and all other assets. Dated this 23rd day of December 1997. PETER W. YOUNG, Joint Receiver and Manager. Address for Service: Care of KPMG, Sixteenth Floor, Clarendon Tower, 78 Worcester Street (P.O. Box 274), Christchurch.