CBD New Zealand Limited Notice of Proposed Amalgamation of Companies Notice is given pursuant to section 221 (4) (b) of the Companies Act 1993, that CBD New Zealand Limited proposes to amalgamate with Southern Capital Limited. Copies of the amalgamation proposal are available for inspection by any shareholder or creditor of either amalgamating company or by any other person to whom either company is under an obligation, at the registered offices of the amalgamating companies and also at the offices of Kensington Swan, Level Four, 89 The Terrace, Wellington, during normal business hours. Any shareholder or creditor of either amalgamating company, or any person to whom either company is under an obligation, is entitled to be supplied free of charge with a copy of the amalgamation proposal upon request to either company. Dated this 24th day of May 1999. Signed on behalf of the board of directors of CBD New Zealand Limited by: GRAEME HORSLEY, Chairman.