Olam declares offer for NZ Farming Systems unconditional

Company upholds its strategy that includes participation in dairy farming in low cost origins.

Olam International Limited (“Olam”) announced that acceptances received for its takeover offer for NZ Farming Systems Uruguay Limited (“NZFSU”), together with Olam's existing shareholder, 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 Monday, 20 September 2010, according to an Olam report.

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 sigificant new equity capital. The offer is presently open for acceptance ut will close on 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.

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