Australasian Property Holdings Group Limited, a New Zealand incorporated company with approximately 5000 shareholders, operates to generate wealth for shareholders through the astute control and management of business assets that deliver lifestyle and recreation options to Australasia's burgeoning mature aged population.

To this end, the APH group of companies has been involved in the retirement village industry and lifestyle property development since 1982.

APH has recently completed a program of restructuring and consolidation including the sale of its Sydney retirement village and has commenced construction of an exclusive development project at Katoomba in the Blue Mountains west of Sydney, marketed as "The Escarpments - luxury residential estate and golf resort".

Tracey Lake has over 20 years experience and grounding in all aspects of business and the property industry.

Mr. Lake has held senior executive positions in both listed and unlisted public and private companies since 1978 and is the founder of and largest shareholder in the Australasian Property Holdings Group.

Lawrence Chartres is a chartered accountant of more than 20 years standing. He has undertaken senior executive roles in various companies across a broad range of industries including stockbroking, property, investment, manufacturing and information technology.

Mr. Chartres has been a director of companies forming part of the Australasian Property Holdings Group since 1982.

Alistair Ward is principal and executive director of Waitiri Capital Limited a consultancy firm that specialises in venture capital, scoping studies and business strategic reviews.

Mr. Ward is an associate fellow of the New Zealand Institute of Management, a member of the Institute of Directors and the Strategic Management Society. He has been a director of a number of companies, and was previously a senior executive in the Fletcher Challenge Group of companies, including Managing Director of Fletcher Challenge Chile Industrial.

Mr. Gower has held a range of senior executive roles, principally with Air New Zealand and Tranz Rail. In 1997, he was instrumental in the global float of Tranz Rail on the NASDAQ, before resigning his position to go to Cambridge University.

Since his return to New Zealand, Mr. Gower has established his own management consultancy. He is currently Chairman of Charlie's Trading Company, the innovative marketing company, and holds positions on the boards of City Design and Auckland Regional Transport Network Ltd.