Ann: Maggie Beer Acquisition and Capital Raising Presentation, page-23

I know that some people here like to make the argument that the extra capital that is being raised in addition to the Maggie Beer purchase price is to "keep management fed" however I direct your attention to the lengthy list of items management intends to direct those funds to in today's presentation.

Here are some of the standouts:

* Research and development of new nutritional dairy products for children (including powders)

* Organic certification of biodynamic milk and products to better capture value of China Dairy certification of Paris Creek Farms.

* Develop new markets for biodynamic milk and yogurt in China.


* Build Saint David footprint with launch of two new sites, commencing with Sydney.

This is in addition to the plans to expand non-milk products and all the general product expansion planned across all three brands.