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New Milk Commissioner Appointed

3 June 2004

For Immediate Release

Shareholders’ Council Appoints New Milk Commissioner

Fonterra Shareholders’ Council has announced the appointment of solicitor Peter Radich as the new Milk Commissioner for the co-operative.

The role of Milk Commissioner is to consider complaints or disputes from Fonterra shareholders that can not be resolved using the internal procedures. The position is independent from both the Council and the company.

Appointing the Milk Commissioner is a key function that the Council performs on behalf of the co-operative’s 13,000 shareholders. Mr Radich was appointed following a formal selection process. The appointment has been made in consultation with the Minister of Agriculture, Jim Sutton.

Mr Radich has been appointed for an initial period of one year and he will take over existing complaints lodged with the incumbent Milk Commissioner Peter Trapski.

Mr Radich is senior partner of Blenheim law firm Radich Dwyer and is the Marlborough Coroner. He has served as Chairman of Marlborough Lines Limited and played an active role in the Electricity Reforms. Mr Radich has also served as a director of other companies and is chairman of transport company TNL Group.

Council’s Representation Committee Chair John Monaghan said: ”In appointing a Milk Commissioner, the Council sought a candidate with appropriate mediation, arbitration and commercial skills.

“Peter Radich will bring the necessary expertise and commitment to this pivotal role in our co-operative.”

ENDS

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