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GENERAL: ALF: BANKING FACILITIES UPDATE

1 Jul 2010 4:51 pm

ALF 01/07/2010 GENERAL

REL: 1651 HRS Allied Farmers Limited

GENERAL: ALF: BANKING FACILITIES UPDATE

1 July 2010

BANKING FACILITIES UPDATE

On 25 June 2010 Allied Farmers announced in a release to the NZX that its term debt facilities expire on 01 July 2010 and negotiation is continuing with Westpac and one other lender proposing to offer funding under a shared security arrangement.

In addition, Allied Farmers and Westpac have also been considering a number of debt retirement and restructuring initiatives that would have a positive impact for the company.

As this process is taking longer than expected Westpac has agreed to extend the terms of the existing banking facility to 24 September 2010, subject to a range of terms and conditions, to allow sufficient time to conclude the initiatives being developed.

For more information, contact:

Rob Alloway Managing Director Allied Farmers Limited Phone 021 376642 End CA:00196831 For:ALF Type:GENERAL Time:2010-07-01:16:51:56

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