Maori Seafood Company Announces Appointment

MEDIA RELEASE
4 July 2007

Maori Seafood Company Announces Appointment

Mr Don Collier, Aotearoa Fisheries Limited's (AFL's) Group Management Accountant has been appointed General Manager Aquaculture.

"Don has been a valuable member of the AFL finance team since the company was formed in 2004. We are pleased he will continue with the development of AFL's investment in the aquaculture sector, in particular the farming and marketing of Pacific Oysters," AFL Executive Chairman, Robin Hapi, said today. Mr Collier will be accountable for the performance of the aquaculture division and will provide leadership and management in order to maximise shareholder value.

"Nearly half the fish consumed as food worldwide was from aquaculture rather than wild fisheries in the last year. A UN Food and Agriculture Organisation report shows developed nations imported 33 million tonnes of fish worth over $US61 billion in 2004."

"Aquaculture is a very important component of the AFL investment strategy, with the company having made a number of aquaculture investments in the last few years. Additionally, Maori have yet to see the results of an agreement with the Crown for aquaculture space, and this is an area that AFL will be focussing on in the coming year," Mr Hapi said.

Mr Collier was involved in the acquisition of Kia Ora Seafoods and the recent investment in a Whangaroa oyster farm last month.

Originally from Hastings (Ngati Porou, Kahungunu and Rongomaiwahine), Mr Collier is a chartered accountant, having gained his BCA at Victoria University in 1982. He first joined the fishing industry in 2002 after a successful career in the private sector including three years with Shell Oil New Zealand, 11 years with Rothmans of Pall Mall (NZ), including time in the company's Asia-Pacific regional operations team.

Immediately prior to joining the Maori fishing sector, Mr Collier spent three years at the New Zealand Dairy Board (Wellington) as a Product Finance Manager, and two years at Te Mangai Paho as Finance and Administration Manager.

Mr Hapi said that Mr Collier will continue championing the core AFL values of integrity, teamwork, innovation and operational excellence, with the aim of developing and implementing strategic business plans within the aquaculture division.

ENDS

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