Fodder King joins with Growzone

1. Growzone and Fodder King sign Memorandum of Understanding

In November 1999, Fodder King Ltd signed a Memorandum of Understanding with the Growzone Development Network of Queensland (an innovative group of local government authorities that administers an area of 412,000 square kilometers in Southern Queensland - an enormous 26% of the State). Growzone originally approached Fodder King with an invitation to explore the opportunities that would arise from establishing a commercial presence in their area. They have clearly identified fodder as one of the potential growth industries which they want to develop, market and export.

The Memorandum of Understanding details how Growzone will provide support for Fodder King in promoting its business in the region. The assistance provided will cover such things as a comprehensive marketing campaign to help Fodder King attract contract growers, promote its final product and support export initiatives. In addition Growzone will facilitate discussions with various State Government agencies in order to attract government and regional support.

In turn, Fodder King agreed to provide Growzone support in these initiatives and when sufficient crop volume is committed Fodder King would establish a production base in the area. Depending on the success of the campaign and the total amount of crops committed, Fodder King would establish a regional base in Growzone and consider relocation of part or all of its operations there.

2. Production likely in 2001.

Our fourth promotional trip to the border rivers area of southern Queensland (Yetman to Mungindi through Goondiwindi) has generated further interest among large irrigation farmers. So far we have given 18 individual presentations, and only one farmer has rejected outright the prospect of growing large plantations of lucerne. This is an extraordinary degree of interest when compared to other region.

It is a step-by-step educational process. We can't take shortcuts, and we've set a target of at least 600 hectares of irrigated lucerne within a 25 km radius of operations committed before we can risk establishing a production cell in the district. For a minimum of three years too. The signs are very encouraging as present indications are that 600 hectares will be planted in autumn 2001.

Growzone can be contacted as follows:

Mr Ed Sims
PO Box 475
Phone: 07 4637 8322
Fax: 07 4637 8344
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