Fonterra Elections Nominations Close 18 August 200

9 August 2006

Fonterra Elections Nominations Close 18 August 2006

Fonterra shareholders interested in standing in the Co-operative's Board of Directors, Directors' Remuneration Committee and Shareholders' Council elections have nine days to submit their nominations. All nominations must be received by the Returning Officer, Warwick Lampp, by 12 noon, next Friday 18 August.

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

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. Nomination forms are available from the Returning Officer who can be contacted via the Election Hotline on 0508 666 446.

The Directors and Directors' Remuneration Committee members will be elected in a nationwide vote. Councillors will be elected by shareholders in 10 different wards.

Three shareholder-elected Directors, a third of Council and two members of the Directors' Remuneration Committee retire annually by rotation. There are also by-elections in Shareholders' Council wards 3 and 4 because casual vacancies have arisen.

Elections will be held in the following 10 wards for the Shareholders' Council:
Ward 2
Central Northland
Ward 3
Southern Northland
Ward 4
South Auckland
Ward 5
Hamilton
Ward 8
Rotorua
Ward 11
Matamata
Ward 14
Northern Taranaki
Ward 17
Southern Taranaki
Ward 20
Hawke's Bay
Ward 23
Canterbury South

The three elections will run concurrently. The voting period is from Tuesday 5 September until Tuesday 10 October, and results will be finalised and announced at Fonterra's Annual Meeting in Invercargill on Wednesday 11 October 2006. All shareholders will be advised of the election results in a letter from the Board Chair.

Shareholders will be able to vote by post, fax or the internet using the Single Transferable Vote (STV) voting system.

ENDS

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