Ann: Octa Phillip Agricultural Land Round Table P, page-5

re: Ann: Octa Phillip Agricultural Land Round... I hope another capital raising is out of the equation.

With historical free cash flow, reduction in interest rates, a lower dollar and potential for increase almond price given recent northern hemisphere reports I'd like to see them continue without any dilution at these levels.

Non-pareil variety crop is down in California, this variety makes up 50% of our orchards. Also, the 2nd biggest producer, Spain, is also struggling with smaller sized almonds this year.

http://westernfarmpress.com/tree-nuts/short-nonpareil-almond-crop-puts-crop-estimate-jeopardy

http://www.agra-net.com/portal2/home.jsp?template=newsarticle&artid=20017993421&pubid=ag005

http://www.tracypress.com/view/full_story/20330136/article-Almond-plant-crowning-achievement?instance=home_news_lead_story

http://www.agra-net.com/portal2/pl/home.jsp?template=newsarticle&artid=20017992152&pubid=ag047