Portfolio Securities Limited Public Notice of Intention to Apply for Removal of the Above Company From the Register Notice is hereby given that the undersigned applicant proposes to apply to the Registrar of Companies at Christchurch, pursuant to section 318 (1) (d) of the Companies Act 1993, for the removal of Portfolio Securities Limited, whose registered office is situated at NZI House, 313 Shortland Street, Auckland, from the New Zealand Register on the grounds that the company has ceased to carry on business, has discharged in full its liabilities to all its known creditors and has distributed its surplus assets in accordance with its constitution and the Companies Act 1993. Unless written objection to such removal, pursuant to section 321 of the Act, is sent or delivered to the Registrar at Christchurch by the 11th day of June 1999 (being a date not less than 20 working days after the date of this notice), the Registrar may remove the company from the Register. Dated at Auckland this 27th day of April 1999. CGU LIFE ASSURANCE LIMITED, Applicant.