December 13, 2003

Cargill To Purchase Shares of Romanian Grain Silo Company

Cargill is today launching a public tender to purchase the shares of Romanian grain silo company Comcereal SA Alexandria. The announcement follows approval for the tender by the Romanian Securities Commission.

The deal will strengthen Cargill's investments in Romania from its two existing grain silos, to include Comcereal SA Alexandria's comprehensive network of grain storage facilities in the Romanian grain belt in the Teleorman, Giurgiu, Ialomita and Galati regions.

Comments Rod Sanderson, Cargill general manager for Romania: "Comcereal is a well run entity that has an excellent geographic spread of grain silos in Romania. We are excited about applying our global grain handling and logistical expertise to this venture." Sanderson continues: "We've been active in Romania since 1996 and have developed a good understanding of the local market and a high performing team of Romanian managers who will lead this project."

Comcereal SA Alexandria is publicly quoted on the RASDAQ (one of the Romanian stock exchanges). The majority of its shares are owned by New Century Holdings (NCH), a New York based investment fund. Following the public tender which will close on the 14 January 2004, the deal will be subject to approval by the Romanian regulatory authorities.

Comcereal SA Alexandria collects, conditions and handles grains and oilseeds that are sold to domestic and export markets. Under the NCH management, Comcereal SA Alexandria has undergone restructuring to improve effectiveness and efficiency. It has a well-organised, skilled workforce of 730 employees, who will be key to the continued success of the business and instrumental in its future growth.