Fonterra Elections - Assessment Deadline 20 July

Fonterra Elections - Candidate Assessment Panel Deadline 20 July 2007

Shareholders seeking election to Fonterra's Board of Directors have one week left to advise the Returning Officer if they wish to access the Candidate Assessment Panel (CAP) process. The CAP deadline is Friday 20 July 2007.

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

CAP interviews with candidates will be held from 26 to 28 July 2007. This will allow intending candidates time to complete the CAP process and make their final decision about standing after receipt of their CAP assessment matrix and before nominations close at 12 noon, Thursday 9 August 2007. All nominations must be received by the Returning Officer, Warwick Lampp, by this time.

The Panel is chaired by an independent Chairman, John Palmer, and has two members appointed by the Fonterra Board and two appointed by the Shareholders' Council.

Nomination Papers and Candidate Handbooks for Fonterra's Board of Directors' and Directors' Remuneration Committee elections are available from the Returning Officer by phoning the Election Hotline on free phone 0508 666 446.

In accordance with the Fonterra 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 Malcolm Bailey, Mark Townshend and Henry van der Heyden. Mark Townshend has advised the Board that he will not be seeking re-election.

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

Both elections will run concurrently with a nationwide vote. The voting period is from Tuesday 28 August until Tuesday 25 September, and results will be finalised and announced at Fonterra's Annual Meeting on Wednesday 26 September 2007 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 both elections by internet, fax and postal voting.
ENDS

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