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Dairy Farm Confirms Interest From FAL In New Zealand Business

28 May 2001

Hamilton, Bermuda: 25 May 2001 - Dairy Farm International Holdings Limited today confirmed that it has received an unsolicited expression of interest from Foodland Associated Limited in respect of Woolworths (New Zealand) Limited, its New Zealand supermarket business.

Mr Ian Durant, Group Finance Director, said "Foodland has contacted us to express interest in acquiring Woolworths. This approach was unsolicited and unexpected and no decision to sell has been made. We will need to consider the merits of any offer that Foodland may make to us and will keep the market updated."

Dairy Farm is a leading food and drugstore retailer in the Asia-Pacific Region. At 31st December 2000, the Group and its associates operated over 2,200 outlets, principally supermarkets, hypermarkets, convenience stores and drugstores, employed some 79,000 people in nine territories and had sales of US$6.6 billion in 2000.