Nominations for Fonterra Elections Open Today

Media Release
9 July 2007

NOMINATIONS FOR FONTERRA ELECTIONS OPEN TODAY

Nominations are now open for Fonterra’s Board of Directors’and Directors’ Remuneration Committee elections.

The election process is underway for three shareholder-elected Directors and two members of the Directors’ Remuneration Committee.

Nomination forms and Candidate Handbooks are now available from the Returning Officer by phoning the Election Hotline on free phone 0508 666 446. Nominations must be received by the Returning Officer, Warwick Lampp of electionz.com, by 12 noon on Thursday 9 August 2007.

Fonterra shareholders, or a shareholder of a company or member of a partnership or entity that is a Fonterra shareholder, are eligible to stand for election. Candidates must also be nominated and seconded by Fonterra shareholders.

Nominations can be free faxed to 0508 666 447 or mailed to the Returning Officer, P O Box 3138, Christchurch 8140.

In accordance with the Constitution, every year three shareholder-elected Directors must retire from the Board. They may seek re-election. Directors required to retire by rotation this year are Malcolm Bailey, Mark Townshend and Henry van der Heyden.

Retiring Directors are no longer required to advise the Returning Officer before nominations open if they will seek re-election. A retiring Director seeking re-election does not need to be nominated or seconded, but must complete a nomination paper and return it to the Returning Officer before the closing date like any other candidate. Mark Townshend has advised the Board he will not be seeking re-election.

Candidates this year are required to provide an interest statement with their profile. This, along with the Candidate Assessment Panel matrix, will provide shareholders with more information to assist them in making an informed vote.

The two members of the Directors’ Remuneration Committee retiring by rotation this year in accordance with the Constitution are Stuart Gower and Brian Hills.

Both elections will run concurrently with a nationwide vote. The voting period is from Tuesday 28 August until Tuesday 25 September, and results will be finalised and announced at Fonterra’s Annual Meeting on Wednesday 26 September 2007 and on Fencepost.com. All shareholders will be advised of the election results in a letter from the Board Chair.

The Single Transferable Vote (STV) voting system will be used for both elections by internet, fax and postal voting.

The Fonterra Shareholders’ Council determines the election rules and process.

ENDS

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