Extension of deadline for voluntary conversion of Campina bonds

14 May 2009



Deadline extended from 15 May to 25 May


Former Campina member dairy farmers and member dairy farmers closing their businesses who qualify for conversion of their subordinated Campina bonds into FrieslandCampina free member bonds are being given an extra ten days to make their choices known. The deadline for receipt of the acceptance form by FrieslandCampina in Zaltbommel or Cologne has been extended from 5.30 pm on Friday, 15 May 2009 to 5.30 pm on Monday, 25 May 2009.

The Board of the FrieslandCampina dairy cooperative has received word from members and district council members that the holders of subordinated Campina bonds need more time to decide whether or not to convert their bonds, for example, because they wish to consult their accountant or financial adviser. On this basis, the Board has decided to extend the deadline. Member dairy farmers and member dairy farmers closing their businesses who have already made their choices cannot revoke them because the deadline has been extended.

Campina bonds and FrieslandCampina free member bonds
The Campina bonds are subordinated bonds issued by the former Zuivelcoöperatie Campina U.A. in three separate tranches with different maturity dates for each tranche. The total amount involved is approximately EUR 177 million in bond loans. FrieslandCampina free member bonds are perpetual, subordinated bonds with a variable interest rate and are issued by Royal FrieslandCampina N.V. A maximum of EUR 160 million FrieslandCampina free member bonds will be issued.

Brochure and form
A brochure with an acceptance form was sent automatically to the home address of holders of Campina bonds who qualify for conversion at the end of April. Members can voluntarily convert Campina bonds into FrieslandCampina free member bonds. The expected conversion date is 1 June 2009. If bonds are converted, interest will be paid on Campina bonds until 30 December 2008 and on FrieslandCampina free member bonds from 30 December 2008.

Prospectus
Holders of Campina bonds should read the prospectus carefully before they make a decision about converting bonds. They should pay particular attention to the description of the risks associated with choosing free member bonds and of the terms and conditions of free member bonds. A full description of the risks and terms and conditions is included in the prospectus. The prospectus (in Dutch and German) is available free of charge from FrieslandCampina in Zaltbommel and Cologne.