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NUF`s ann: Nufarm to exit IAMA shareholding

Document date:  Fri 16 Feb 2001
Published:  Fri 16 Feb 2001 13:27:51
Document No:  173320
Document part:  A
Market Flag:  N

NUFARM LIMITED                                2001-02-16  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

Nufarm Limited will exit its 19.91% shareholding in IAMA following
last week's vote by IAMA shareholders to approve a merger proposal
with Wesfarmers Dalgety. The merger includes an exit option for
existing IAMA shareholders valued at $1.65 per share.

Nufarm's managing director, Doug Rathbone, said the exit option
represents a premium on the average cost of Nufarm's investment in
IAMA and that the capital realised from the sale of IAMA shares can
be more effectively re-deployed in other areas.

Mr Rathbone said he welcomes the vote by IAMA shareholders to
overwhelmingly support the merger proposal with Wesfarmers Dalgety.

"Nufarm's investment in IAMA was aimed at supporting the
restructuring of the business and the rationalisation of the rural
distribution sector in general.

"As a key component of Nufarm's access to market in Australia, we
have a direct interest in distribution operating as efficiently as
possible and adding appropriate value in the supply chain. The merger
with Wesfarmers Dalgety should deliver efficiencies which translate
into a more professional service for the end users of Nufarm

Mr Rathbone said Nufarm will continue to work closely with all major
rural distributors.

Nufarm is a publicly listed Australian based company with core
capabilities in chemical synthesis and manufacturing. It has major
businesses in the crop protection and the industrial, fine and
performance chemical sectors and operates production facilities
throughout Australia and New Zealand, Asia, Europe and North America.

Further information:

Robert Reis 
Corporate Affairs 
(61 3) 9282 1177