Anchor South Limited and South Island Dairy Co-Operative Limited Public Notice of Amalgamation Proposal Pursuant to Section 221 of the Companies Act 1993 The boards of Anchor South Limited and South Island Dairy Co-Operative Limited (``amalgamating companies'') give notice of the proposed amalgamation of the amalgamating companies. Anchor South Limited is intended to continue as the amalgamated company. Copies of the amalgamation proposal are available for inspection by any shareholder or creditor of the amalgamating companies, or any person to whom the amalgamating companies are under an obligation, at the registered offices detailed below, during normal business hours. Any shareholder or creditor of the amalgamating companies, or any person to whom the amalgamating companies are under an obligation, is entitled to be provided free of charge with a copy of the amalgamation proposal by making a written request addressed to either of the registered offices listed below. Registered Offices of the Amalgamating Companies: Anchor South Limited, Anchor House, 80 London Street, Hamilton. South Island Dairy Co-Operative Limited, Level Nine, Clear Centre, 155 Worcester Street, Christchurch. Dated this 28th day of April 1999.