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Comment on Cole Inquiry Report

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MEDIA RELEASE November 27, 2006

Comment on Cole Inquiry Report

ZESPRI Chairman Craig Greenlees said today the company was pleased the Australian Cole Inquiry had found, as expected, that ZESPRI CEO Tim Goodacre acted entirely without fault during his time at the Australian Wheat Board.

“This is consistent with our experience with Tim who has done and continues to do an excellent job for our company and growers over the last four years,” Mr Greenlees said. “Tim is focused on completing the bedding-in of our new strategic plan over the next few months before eturning to Australia to pursue other aspirations as he indicated he wished to do earlier this year.”

Mr Goodacre said: “I expected to be and have been exonerated by Commissioner Cole and is
extraordinarily thorough investigation.

“It has been a tough process. My integrity is important to me and it’s great to have it confirmed.

I’m looking forward to completing the implementation of ZESPRI’s new strategic plan by the end of this financial year and resuming my corporate career in Australia from 2007.

“This issue is now behind me and I will not be commenting further.”


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