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Commercial Director Of Fonterra Appointed

April 15, 2001 For Immediate Release

Commercial Director Of Fonterra Enterprises Appointed

John Lea has been appointed Commercial Director of Fonterra Enterprises, a division of Fonterra Co-operative Group Ltd, Fonterra Enterprises Managing Director and the company’s Chief Development Officer, Alexander Töldte, announced today.

“We have set up Fonterra Enterprises to create opportunities for Fonterra to diversify and expand on its expertise and knowledge through new ventures. We see this as critical to securing Fonterra’s position for the long term as a leading global dairy company,” Mr Töldte said.

“John has an impressive track record, domestically and internationally, in driving innovation through to successful commercial business outcomes. He is particularly experienced in negotiating joint ventures, raising finance and incubating new start-ups.”

Mr Töldte said Mr Lea would be responsible formanaging and co-ordinating access to new business concepts and opportunities. “We are looking to John to lead Fonterra into uncharted territory with viable commercial opportunities that will add to and benefit the existing organisation.”

Mr Lea was previously Commercial Director for Food Solutions Group. Prior to that he was CEO of Celentis, a seed capital and technology development company. He also spent more than a decade with Fernz Corporation in a variety of roles including sales and marketing, mergers and acquisitions as well as general management and the development of Greenfield business opportunities.

John Lea will report to Mr Töldte. He takes up his appointment immediately and will be based in Auckland.

END

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