Four Sisters Limited Notice of Appointment of Receiver and Manager Pursuant to Section 8 (1) of the Receiverships Act 1993 Kevin Joseph Covacich, chartered accountant of Auckland, whose offices are at First Floor, 26 Porana Road (P.O. Box 100-431, North Shore Mail Centre), Wairau Valley, Auckland, hereby give notice that on the 17th day of March 1997, I was appointed as receiver and manager of the property of Four Sisters Limited (``the company'') under the powers contained in a debenture dated the 9th day of May 1995. The appointment was made in respect of all of the company's undertaking and all of its real and personal property and all its assets and effects, whatsoever and wheresoever, both present and future, including its uncalled and unpaid capital. Dated this 18th day of March 1997. KEVIN J. COVACICH.