Fonterra Elections Process Begins

21 June 2007

Fonterra Elections Process Begins

Nominations for this year's Fonterra Director elections will be called for in early July. This year current Fonterra Directors Malcolm Bailey, Mark Townshend and Henry van der Heyden retire by rotation in accordance with the Constitution. The incumbent Directors are no longer required to advise the Returning Officer before the opening date for nominations if they are standing again in 2007. However, they still must complete a nomination paper like any other candidate.

The Candidate Assessment Panel (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 is chaired by an independent Chairman, John Palmer, and has two members from the Fonterra Board, Greg Gent and Mark Townshend and two from the Shareholders' Council, Paul Todd and Blue Read.

CAP interviews for Board of Director candidates will be held from 26 to 28 July 2007.

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

Warwick Lampp of electionz.com has been reappointed by the Shareholders' Council as the Returning Officer for the Fonterra Director and Directors' Remuneration Committee elections. Mr Lampp confirms that nominations for both elections open on Monday 9 July 2007 and must be received by the Returning Officer by 12 noon on Thursday 9 August 2007. Fonterra shareholders are eligible to stand for both elections.

Nomination forms and Candidate Information Packs will be available from the Returning Officer from 9 July by phoning the Election Hotline on free phone 0508 666 446.

ENDS

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