Lowes Industries (North Island) Limited (in liquidation) Notice of Appointment of Receivers and Managers Pursuant to the Receiverships Act 1993 On the 30th day of August 1999, American Re-Insurance Company, being the holder of a debenture dated on the 23rd day of September 1998 and registered at the Companies Office at Wellington on the 15th day of October 1998, issued to it by Lowes Industries (North Island) Limited (in liquidation) (``the company''), appointed Kerryn Mark Downey and John Edward Fokerd, chartered accountants, both of Auckland, jointly and severally as receivers and managers of all the undertaking, property and assets of the company. The Receivers and Managers Address is: KPMG, KPMG Centre, 9 Princes Street, Auckland. Dated this 30th day of August 1999. KERRYN MARK DOWNEY and JOHN EDWARD FOKERD, Joint Receivers and Managers.