AWB Limited today announced a weighted average basis result of 41.52 US cents per bushel for AWB’s 1999/2000 Basis Pool.

AWB (International) Limited General Manager Peter Geary said the 1999/2000 basis pool result was an excellent performance for AWB’s most innovative risk management product.

“The overall strengthening of the Basis Pool since the last announcement is an illustration of AWB’s strong sales performance during the second half of 2000, particularly given the continued low international demand for wheat and the high world wheat stocks,” said Mr Geary.

According to the Basis Pool pricing formula growers will receive A$38.89 per tonne fob for ASW 10 per cent. This is the final payment for growers who participated in the 1999/2000 Basis Pool.

The final tranche payment was calculated today using the third and final tranche result of 112.80 US cents per bushel over the Chicago settlement price for December wheat of 255.5 US cents per bushel and a hedge settlement rate of AUD/USD 0.5220.

The distribution will be paid on the 8th December, 2000.

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For further information contact:

Jo O’Connell, AWB Limited Public Affairs on (03) 9209 2555 or 0407 310 250