Aotearoa Fisheries Half Yearly Result

1 June 2007

Aotearoa Fisheries Half Yearly Result For Period Ending 31 March 2007

The Maori owned Aotearoa Fisheries Limited today announced a first half years profit for the Group of $18.4m for the period ended 31 March 2007.

CEO Robin Hapi said "this builds on the $15.0m profit achieved for the same period last year" he described the result as "an encouraging start to the year in the face of some very significant challenges both economic and political".

Aotearoa Fisheries Limited also announced today that Mr Hapi had been appointed as the Chairperson of Sealord Group Limited following the resignation of Mr Robert McLeod. Mr Hapi noted that the Boards of AFL and Sealord recognised the significant contribution made by Mr McLeod in the establishment of AFL and the development of AFL and Sealord as strong performing businesses.

Mr Hapi said that he was looking forward to his new role as Chairperson of AFL and Sealord, building on the work already undertaken and helping to shape the future of these two very important investments for Maori.

ENDS

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