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New Zealand Stock Exchange Announcement

New Zealand Stock Exchange Announcement

The Directors of Sanford Limited have today declared a final dividend for the thirteen month year ended 30 September 2003 of twelve cents per share. This takes the total dividend for the year to twenty one cents per share (an increase of one cent over the previous year).

The Directors have also declared a special dividend of 20 cents per share to commemorate the forthcoming centenary of the company’s formation on 1 February 1904.

These dividends will be fully imputed and will be paid to shareholders on 18 December 2003. For the purposes of determining entitlement to the dividend, the share transfer books shall be closed at 5pm on Friday 5 December 2003 and shall re-open at 8.30am on Monday 8 December 2003.

The financial results for the year (13 months) will be announced after the market closes on Wednesday 26 November 2003. Directors believe that the full year results are likely to be at least 20% ahead of last year and have made these early declarations of dividends to remove market speculation over possible additional shareholder benefits as the company approaches the centenary of its legal formation.

Further information will be disclosed to shareholders at the time of the announcement of the annual results and in the annual report to be forwarded to shareholders in December.

For and on behalf of Directors E F Barratt Managing Director

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