Proposed Amalgamation of The Radio Network Southern Limited and The Radio Network Northern Limited Pursuant to Section 221 (4) (b) of the Companies Act 1993 The directors of The Radio Network Southern Limited and The Radio Network Northern Limited (the ``amalgamating companies'') have proposed to amalgamate and continue as one company under the name The Radio Network Northern Limited (subject to an application, dated 11 August 1998, for a private binding ruling in respect of the amalgamation being made pursuant to the provisions of the Tax Administration Act 1994, being approved by the Inland Revenue Department). Copies of the amalgamation proposal are available for inspection by any shareholder or creditor of an amalgamating company or any person to whom an amalgamating company is under any obligation, at the registered offices of the amalgamating companies (54 Cook Street, Auckland), or at the offices of Simpson Grierson, 9296 Albert Street, Auckland, during normal business hours. Any shareholder or creditor of an amalgamating company, or any person to whom an amalgamating company is under an obligation can obtain a copy of the amalgamation proposal free of charge, on request to an amalgamating company. Dated the 8th day of February 1999. For and on behalf of the boards of the amalgamating companies.