Summary of all International Investor Prior Recommendations
(This summary prepared: December  2004 All prices in NZ cents.)

                                     Buy              Sell
               Fund             Recommendation   Recommendation   Recent
                                  Date   Price     Date   Price    Price
Aberdeen Prolific Emerging Mkts 13/08/91   184                      365
Aberdeen Asian Sm Coys warrants 09/09/03   209                      270
Aberforth Smaller Coys Trt plc  15/07/03  1042                     1286
AIM Weingarten Equity           23/04/85  1009   12/05/92  3013        
Alliance Quasar                 17/12/85  2167   15/10/91  3632        
Baillie Gifford Shin Nippon plc 11/01/94   440                      395
BT International                15/01/90   139   13/08/96   302        
BT Pacific                      15/01/90   218   13/08/96   502        
Baring Korea Trust              12/04/94   209                      272
Eaglet Investment Trust plc     13/11/01  1161                      816
EFM Dragon Trust plc            12/01/93   196   11/01/94   327        
EFM Smaller Japanese Cos        05/03/85    63   07/04/87    89        
EFM Tokyo Fund                  05/03/85   293   16/01/90   679        
Edinburgh UK Smaller Cos        07/04/87   344   11/02/97   640        
Fidelity Asian warrants         10/03/98    50   09/09/03    40
Fidelity European Trust         06/10/87   191   12/01/93   297        
Fidelity European Values plc    13/05/03  1291                     2013
Fidelity Japan Trust            19/03/85   245   06/10/87   429        
Fidelity Magellan Fund          04/06/85  4534   09/06/92 12210        
Fidelity Smaller Japanese       15/01/90   101   13/10/92    73        
Fid. Select Technology          16/07/85  4006   23/05/89  3283        
Fidelity Select Utilities       23/05/89  4277   09/06/92  6815        
Fleming Indian Invest Trust plc 15/04/97   147   08/12/98   107        
Gartmore Euro. Select Opps      09/06/87   210   16/01/90   259        
Gartmore Japan Trust            12/04/94   698   13/07/99   679        
Gartmore Pacific Growth         29/10/85   105                      499
Gartmore UK Small Coys          15/01/90   289   13/04/93   287        
German Investment Trust plc     12/03/96   237   11/02/97   290        
Govett Japan Growth Fund        15/10/85    78   28/04/87   159        
Govett European Growth          28/04/87   174   06/10/87   161        
Govett UK Small Coys            06/10/87   163   13/08/91   110        
Govett Greater China Fund       13/08/96   480   08/08/00   723        
GT Korean Securities Fund       12/10/93   160   10/12/96   100        
Henderson Pacific Capital       08/08/00  1123                      723
Herald Investment Trust plc     12/10/04   820                      855
Hill Samuel UK Smaller Cos      13/04/93   159   08/02/00   606        
HSBC Asian Fund                 10/11/98   106                      109
HSBC Hong Kong Growth           07/04/98   482                      434
HSBC Tiger Index                13/08/91   288   10/11/98   258        
I & S UK Smaller Coys IT plc    11/02/97   381   06/06/00   757        
Invesco Japan Discovery plc     13/07/99   284                      233
JFM Fleming Asia warrants       07/03/00   142   11/11/03    35
JFM Fleming Euro Fledgeling plc 15/01/02   766                      765
Jupiter Int'l Green IT plc (1)  08/10/96    81   08/02/00   152        
Legg Mason Int'l Utilities plc  13/02/01   566   10/06/03    12
Martin Currie Pacific warrants  10/02/98    59   11/04/00   156        
NM Singapore & Malaysian        29/04/86   114   13/08/91   326        
Nicholas Fund                   07/05/85  4499   12/05/92  9197        
Nicholas Income                 14/05/90   367   11/11/97   595        
Old Mutual Latin American       12/04/94   241   11/08/98   214        
Old Mutual Thailand             08/12/98   156   13/05/03   115
Pacific Asset Trust plc         09/02/93   226   07/04/98   143        
Private Equity Investor plc     11/12/01   420                      281
Prov. Capitol Swiss Equities    12/02/93   137   12/04/94   175        
Royal Life UK Emerging Cos      09/02/93   313   10/10/95   338        
Scot Oriental Sm Coy warrants   11/11/03   212                      207
Schroder Asian Pacific warrants 13/07/99    76                       17
TR European Growth Trust plc    11/02/97   375   06/06/00  1541        
TR Technology plc               10/10/96   415   11/11/97  1090        
Templeton Emerging Mkts warrants13/07/99   120   07/09/04   24
                                                                       
(1) Plus Dividends adding:
42% from Jupiter International Green plc

The average annual rate of gain (in NZ currency) of all foreign fund investments is 9.8%.

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