Clearwood Holdings Limited (in receivership) Notice of Appointment of Receivers and Managers Pursuant to Section 8 (1) (b) of the Receiverships Act 1993 On the 27th day of January 1998, we, Deborah Jane Muir and John Joseph Cregten, chartered accountants of Auckland, were appointed by Countrywide Banking Corporation Limited, acting under powers conferred by a registered debenture dated the 22nd day of April 1994, to act jointly and severally as receivers and managers of all the assets and undertaking of the above-named company. The Receivers' Office Address is: Level Five, General Building, 2933 Shortland Street (P.O. Box 532),Auckland Central. Telephone: (09) 358 1230. Facsimile: (09) 358 3646. Dated this 27th day of January 1998. DEBORAH JANE MUIR, Receiver and Manager. JOHN JOSEPH CREGTEN, Receiver and Manager.