Pan Pacific Forest Industries (N.Z.) Limited Notice of Proposed Amalgamation of Companies Pursuant to Section 221 (4) of the Companies Act 1993 Notice is given of a proposed amalgamation of Pan Pacific Forest Industries (N.Z.) Limited with Hawkes Bay Forests Limited. Hawkes Bay Forests Limited will continue as the amalgamated company and will change its name to Pan Pac Forest Products Limited immediately following the amalgamation. (i) Copies of the amalgamation proposal are available for inspection by any shareholder or creditor of the company or any person to whom the company is under an obligation at the registered office of the company at 1161 State Highway No. 2, Wairoa Road, Napier, during normal business hours; and (ii) Any shareholder or creditor of the company or any person to whom the company is under an obligation is entitled to be supplied free of charge with a copy of the amalgamation proposal upon request to the company. Dated this 25th day of February 1999. PAN PACIFIC FOREST INDUSTRIES (N.Z.) LIMITED.