Fonterra Elections - Nominations Close In One Week

19 September 2008

Fonterra Elections - Nominations Close In One Week

Shareholders seeking election to Fonterra's Board of Directors, Directors' Remuneration Committee or Shareholders' Council have one week left to submit their nomination. The close of nominations is 12 noon on Friday 26 September 2008.

Candidates for the Board of Directors' election also need to advise the Returning Officer if they wish to access the Candidate Assessment Panel (CAP) process by the close of nominations.

CAP is available to assess the capabilities, experience and qualifications of Director candidates and provide shareholders with more information to assist in making an informed vote. While the CAP process is open to all Director candidates it is not compulsory.

The Panel, consisting of independent Chairman, John Palmer, two members appointed by the Fonterra Board, Henry van der Heyden and Greg Gent or Roger France, and two appointed by the Shareholders' Council, Blue Read and independent John Loughlin, will be interviewing intending candidates on 2 and 3 October 2008.

Nomination Papers and Candidate Handbooks for all three elections are available from the Returning Officer by phoning the Election Hotline on free phone 0508 666 446. All nominations must be received by the Returning Officer, Warwick Lampp, by 12 noon, Friday 26 September 2008.

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 Greg Gent, Earl Rattray and Jim van der Poel.

Murray Holdaway of the Directors' Remuneration Committee is retiring by rotation this year in accordance with the Constitution. Tom Lees, who was also scheduled to retire by rotation, resigned from the Committee during the year and is not eligible for re-election.

This year there are Shareholders' Council elections in 14 wards:

Ward 1

Northern Northland

Ward 4

Southern Northland

Ward 6

Haurak

Ward 7

Coromandel

Ward 10

Te Aroha

Ward 13

Matamata

Ward 16

Rotorua

Ward 19

Taupo

Ward 22

Central Taranaki

Ward 25

Northern Manawatu

Ward 27

Southern Manawatu

Ward 28

Wairarapa

Ward 31

Central Canterbury

Ward 34

Eastern Southland

Councillors who have advised they will stand for re-election are:

Ward 4

Southern Northland

Simon Couper

Ward 6

Hauraki

Peter West

Ward 7

Coromandel

Dirk Sieling

Ward 10

Te Aroha

Graham Hallett

Ward 13

Matamata

Grant Wills

Ward 16

Rotorua

Steve Carroll

Ward 19

Taupo

Campbell Shearer

Ward 28

Wairarapa

Philip Palmer

Ward 34

Eastern Southland

Lloyd McCallum

Shareholders' Councillors retiring are:

Ward 1

Northern Northland

Kevin Baxter

Ward 22

Central Taranaki

Mark Masters

Ward 25

Northern Manawatu

Greg Maughan

Ward 27

Southern Manawatu

Grant Rowan

All three elections will run concurrently. The voting period is from Thursday 30 October until 12 noon on Tuesday 25 November and results will be announced at Fonterra's Annual Meeting on Wednesday 26 November 2008 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 the three elections. Voting can be carried out by internet, fax and postal voting.

ENDS

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