Hero Group Limited (in receivership) Notice of Appointment of Receivers Pursuant to Section 8 (1) (b) of the Receiverships Act 1993 On the 18th day of May 1998, we, Laurence George Chilcott and Peter Charles Chatfield, were appointed by Rag Treasury Limited, acting under powers conferred by a deed of debenture dated the 5th day of August 1997, to act jointly and severally as receivers and managers of all the property of the above-named company. The appointment is in addition to that of Grant Robert Graham and Michael Peter Stiassny who already hold office as receivers and managers. Our Office Address is: Care of the First Floor, General Building, 27 Shortland Street, Auckland. Dated this 18th day of May 1998. LAURENCE GEORGE CHILCOTT and PETER CHARLES CHATFIELD, Receivers.