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Fonterra Election Process Begins

30 June 2006

Fonterra Election Process Begins

Two of the three current Fonterra Directors, Stuart Nattrass and John Wilson have advised they will stand for re-election in the upcoming Fonterra Director elections. The third Director, Harry Bayliss, has advised that he will not be standing again this year.

The three Directors are scheduled for re-election as part of the Fonterra Board's rotational policy and are currently required by the Director Elections Rules to advise the Returning Officer of their intentions at least one month prior to nominations opening.

Electionz.com has been reappointed as the Returning Officer for the Fonterra Director, Shareholders' Council and Directors' Remuneration Committee elections and Warwick Lampp from electionz.com will again carry out this role. Mr Lampp confirms that fifteen Shareholders' Councillor positions in eight wards are up for election in line with Council's rotational policy, along with two members of the Directors' Remuneration Committee. There will also be two by-elections for Council members in Ward 3 and Ward 4.

Councillors who have advised they will stand for re-election are Murray Douglas and Mark Croucher, Ward 2 Central Northland; Neil McLean and Henk Weijers, Ward 5 Hamilton; Allan Crafar and Campbell Shearer, Ward 8 Rotorua; David Gasquoine and Tony Sclater, Ward 11 Matamata; Blue Read and Nick Barrett, Ward 14 Northern Taranaki; Dave Hopkins and Ross Johnston, Ward 17 Southern Taranaki; Dean Nikora, Ward 20 Hawke's Bay; and John Saywell in Ward 23 Canterbury South.

Councillors retiring are Allan McCracken, Ward 3 Southern Northland; Lachie Cameron, Ward 4 South Auckland; and Adri Verbakel, Ward 23 Canterbury South.

There are two members of the Directors' Remuneration Committee scheduled for re-election as part of the Committee's rotational policy. Rodney Wilson has advised that he will stand for re-election in 2006 and David Hurst has advised that he will retire.

Nominations for all elections open on Monday 24 July 2006 and must be received by the Returning Officer by 12 noon on Friday 18 August 2006. Fonterra shareholders are eligible to stand for the three elections.

Nomination forms and candidate information packs will be available from the Returning Officer from 21 July by phoning the Election Hotline on 0508 666 446.

The Candidate Assessment Panel is being implemented for this year's elections. This panel will provide shareholders with an assessment of the skill levels and experience in key governance competencies of candidates intending to stand for election to the Board. Eligible shareholders intending to stand for the Fonterra Board can elect to be assessed by the panel.

ENDS

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