Investor Presentaiton

The oil palm price ‘bubble' peaked in March 2008. The rapid decline from Oct 2008 surprised growers. Rubber prices followed a similar trajectory. Palm Oil Price History: 1998-2009 US$ Per Metric Ton 1400 1200 1000 800 600 400 200 0 1998 1999 2000 Though CPO prices have fallen 56% in the past year, current price levels are above long-term averages, and well-above reported production costs Estimated cost of production on a well-managed Govt estate Source: USDA, Oilworld Monthly Avg Malaysia FOB Palm Oil Price 2007 2008 2009

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