Investment Homes Limited (in receivership) Notice of Appointment of Receivers and Managers Pursuant to Section 8 (1) (b) of the Receiverships Act 1993 On the 17th day of March 1998, we, Laurence George Chilcott and Peter Charles Chatfield, were appointed under powers conferred by registered debentures, dated the 5th day of September 1997 and the 5th day of November 1997, to act jointly and severally as receivers and managers of all the assets and undertakings of the above-mentioned company. Our Office Address is Care of: Smith Chilcott, Chartered Accountants, First Floor, General Building, 29 Shortland Street, Auckland. Dated the 18th day of March 1998. LAURENCE GEORGE CHILCOTT and PETER CHARLES CHATFIELD, Receivers and Managers.