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Successful third globalDairyTrade event

3 September 2008

Successful third globalDairyTrade event

The third trading event for Fonterra's new internet-based sales platform, globalDairyTrade, concluded at 2am this morning (NZT).

The average price achieved across all products and contract periods for Whole Milk Powder (WMP) was USD3,306 MT FAS New Zealand Port with prices ranging from USD3,150 MT FAS to USD3,435 MT FAS.

Commercial Director GlobalTrade, Guy Roper, said, "the prices of the third trading event reflected the current commodity market environment. The online trading platform provides an open and fair market that enables participants to better manage their exposure to commodity price risk and is fast becoming the global reference for WMP pricing."

Fonterra expects to sell approximately 200,000MT of New Zealand source WMP on globalDairyTrade during its first year of operation. Skim Milk Powder (SMP) and other commodity products will be added to the online trading platform.

The next trading event will be held on 1 October 2008.

- ENDS -

About Fonterra

- Fonterra is the world's largest dairy exporter and the fifth largest dairy company in the world, with annual turnover of NZ$17 billion.

- As New Zealand's largest and truly multinational business, Fonterra trades in 140 countries.

- Our portfolio includes dairy ingredients, liquid and powdered milks, cultured foods and yoghurts, butter, cheese and specialty foodservices products.

- Our brands include Anchor, Anlene, Anmum, Fresh n' Fruity, Mainland, Peters & Brownes, Tip Top, and Chesdale.

ENDS

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