23rd December 2005

23 December 2005

TO ALL SHAREHOLDERS AND CREDITORS OF

BUILDING & RENOVATIONS BY DE GEEST LIMITED (IN LIQUIDATION)

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On 23 December 2005 it was resolved by special resolution pursuant to Section 241(2)(a) of the Companies Act 1993 that the above company be liquidated and that Gordon Hansen of Goldsmith Fox PKF, Christchurch, be appointed as liquidator.

Please find enclosed a copy of the statement of affairs as at date of liquidation.

Proposals for conducting the Liquidation

Subject to the liquidator being notified of any claims from unrecorded creditors it is the intention of the liquidator to distribute the assets to the shareholders.

Estimated Completion Date

Approximately Two months from the date of liquidation.

Prospect of a Dividend

See “Proposals for conducting the Liquidation” above.

Creditor’s Claims

There are no recorded creditors.

Notice Regarding Meetings

A liquidator may call a meeting of creditors. However, having regard to the assets and liabilities of the company, the likely result of the liquidation and other relevant matters, the liquidator considers in accordance with Section 245 of the Companies Act 1993 that no such meeting should be held.

A meeting will not be called unless within 14 days after receiving this notice a creditor gives notice in writing to the liquidator requiring a meeting to be called.

In accordance with Section 314 of the Companies Act 1993 a creditor or shareholder may request in writing that the liquidator call a meeting of creditors or shareholders at any time in the course of the liquidation to vote on a proposal that a Liquidation Committee be appointed to act with the liquidator.

The liquidator may decline such a request to call a meeting on the ground that:

1. The request is frivolous or vexatious or; 2. The request was not made in good faith; or

3. Except where a creditor or shareholder agrees to meet the cost, the cost of calling a meeting would be out of proportion to the value of the company’s assets.

Should you have any queries please contact Anton Christie at our office as below.

Gordon Hansen Liquidator

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236 Armagh Street, P O Box 13-141, Christchurch, New Zealand, Telephone (03) 366-6706, Fax (03) 366-0265

Goldsmith Fox GJC Limited is an Independent firm practising in association with Goldsmith Fox PKF

Goldsmith Fox PKF is an Independent Member of PKF International

BUILDING & RENOVATIONS BY DE GEEST LIMITED (IN LIQUIDATION)

Statement of Affairs

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As at 23 December 2005

Assets

Current Assets 12,932 12,932 Liabilities Nil

Net Assets

$12,932

The above Statement of Affairs is based on the financial statements of the company as at 23 December 2005 and discussions with the company’s accountant.