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Positive Sign For Fonterra

10 December 2003

Positive Sign For Fonterra

An increase in the estimated Fair Value Share (FVS) price for next season is a positive indicator of the progress of Fonterra Co-operative Group, says Dairy Farmers of New Zealand (DFNZ) Chairman Kevin Wooding.

Fonterra today announced that the estimated FVS price for the 2004/05 season has been set at $4.50, an increase of 12 cents or three percent on the current season's price.

The FVS price is a guide for the final value of shares traded by farmers who choose to join or leave the co-operative, or change production levels.

"It's going in the right direction. It's an indication that the company is starting to perform better," he said.

Farmers look to see the value of their shares protected in future, but realise that the impact of a higher New Zealand dollar and other matters could erode the Fonterra share price.

Dairy Farmers of New Zealand is an industry group of Federated Farmers of New Zealand (Inc).

ENDS


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