New ABB Board Named

SYDNEY - Jun 7/04 - SNS -- Non-executive directors were named to the Australian barley marketing board -- ABB Grain Ltd -- in accordance with the merger agreement reached between ABB, AusBulk Ltd (AusBulk) and United Grower Holdings.

The board of the new parent entity, which will retain the name ‘ABB Grain Ltd’, includes current directors from ABB, AusBulk and UGH.

The nominated non-executive directors from the original ABB are: Trevor Day, Ken Dingwall, Ross Johns, Dr Timothy Ryan, and Max Wilksch, Directors from AusBulk are: Perry Gunner, Jeff Clift, Andrew Inglis, Kevin Osborn, and Max Venning; and the director from United Grain is Adrian Glover.

Perry Gunner has been named as proposed chairman of the initial board. The existing boards of the three companies will remain in place until the merger takes effect on 30 September 2004. The proposed merger is subject to Australian Competition and Consumer Commission clearance and approval from the shareholders of the three companies at shareholder meetings scheduled for late September 2004.