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6 June 1997

News release

Endeavour International Limited, Endeavour Plan 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 advertisements of Endeavour International Limited relating to the Endeavour Plan.

Endeavour International Limited was promoting interests in the Endeavour Plan, described in certain advertisements as units in a unit trust, the "Endeavour Unit Trust", and a network marketing distribution system.

In the Commission's opinion, the advertisements before the Commission were likely to deceive, mislead, or confuse with regard to certain particulars: that the "Endeavour Unit Trust" had been lawfully set up under the Unit Trusts Act 1960, when it had not, and that it had been set up in conjunction with two named funds managers, when no agreement had been reached.

The Commission understands that the directors of Endeavour International Limited are Christopher William Tomblin, Sandra Margaret Cattermole, Richard John Calkin and Atul Prema.

The Commission understands that the shareholders of Endeavour International Limited are Christopher William Tomblin, Stephen James Dean, Sandra Margaret Cattermole, Gregory Barclay Denton, Asia New Zealand Business Services Limited, and the trustees of the Calkin and McDonald family trusts.

Members of the public should exercise caution before paying or committing money to Endeavour International Limited for the Endeavour Plan.

Norman F Miller
Senior Executive (Compliance)