Press Release

    Olam Declares Offer for NZ Farming Systems Unconditional

    Press release

    Olam International Limited (“Olam”) is pleased to announce that acceptances received for its takeover offer for NZ Farming Systems Uruguay Limited (“NZFSU“), together with Olam’s existing shareholding now represent more than 50% of the shares on issue of NZFSU. The Olam offer has accordingly been declared unconditional.  Shareholders who have already accepted will receive payment of NZ$0.70 per share within 5 days from today’s date.

    Olam believes that the strong support for the offer from NZFSU shareholders is a reflection of the full price being offered, and also the current financial position of NZFSU which requires shareholders to contribute significant new equity capital.

    The offer is presently open for acceptance but will close at 5:00pm on Friday –
    24 September 2010.

    The acquisition of NZFSU is consistent with Olam’s Dairy Products strategy, which includes participation in dairy farming in low cost origins that will strengthen its market position in the dairy industry.

    Note:

    This release should be read and understood only in conjunction with the full text of Olam International Limited’s other announcements lodged on SGXNET on the same subject.

    About Olam International Limited
    Olam International is a leading global integrated supply chain manager and processor of agricultural products and food ingredients, sourcing 20 products with a direct presence in 64 countries and supplying them to over 10,600 customers. With direct sourcing and processing in most major producing countries for its various products, Olam has built a global leadership position in many of its businesses, including cocoa, coffee, cashew, sesame, rice, cotton and wood products. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 40 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the Straits Times Index (STI), MSCI Singapore Free, S&P Agribusiness Index and the DAXglobal Agribusiness Index. Olam is the only Singapore firm to be named in the 2009 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.

    More information on Olam can be found at www.olamgroup.com.

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