Fonterra Co-Operative Group Ltd (Fonterra) is promoting an offer of units (Units) in the Fonterra Shareholders’ Fund (the Fund).The Fund has been designed so that each Unit issued by it will, essentially, pass through the economic benefits derived from holding a single share of Fonterra.

No offer is being made to subscribe directly for shares in Fonterra. The Units being offered will be issued by the Manager of the Fund (FSF Management Company Limited), not by Fonterra, and the Units do not confer any direct interest in Fonterra.

The price per Unit  will be the Final Price which is expected to be announced on the 27 November 2012.  Fonterra has set an Indicative Price Range of NZ$4.60-NZ$5.50 per Unit.

The offer closes on 21 November 2012.