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21 June 1996

News release

Enzedex Enterprises Limited & Pan-American Gold & Silver Co - advertisement prohibited

The Securities Commission, acting under the authority of section 44A of the Securities Act 1978, has made an order prohibiting the distribution of certain advertisements of Enzedex Enterprises Limited. The advertisements relate to a scheme whereby subscribers contribute funds for investment in a mining project in Mexico, to be operated by a Mexican company called Pan-American Gold & Silver Co.

The Commission was of the opinion that the advertisements contained or referred to an offer of securities to the public for subscription and did not comply with section 33 of the Securities Act 1978. This requires such an offer to be made in, or accompanied by, a registered prospectus or in an "authorised advertisement".

Enzedex Enterprises Limited is a New Zealand company based in Hamilton. Mr Kevin B. Patterson is a shareholder and director of the company and appears to be responsible for promoting the Mexican investment.

Members of the public should exercise care before paying or committing money to Enzedex Enterprises Limited.

Norman F. Miller
Senior Executive (Compliance)