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    ANNOUNCEMENT THE AUSTRALIAN STOCK EXCHANGE LIMITED 11 October 2004 For Immediate Release


    Confirmation of Discussions with SPC Ardmona Limited
    National Foods Limited confirmed today that it is pursuing discussions with SPC Ardmona Limited regarding a possible merger of the two companies.

    Discussions at this stage are preliminary and non-binding and no formal proposal has been made to the
    board of SPC Ardmona.

    If this proposal proceeds, it would provide an opportunity to develop a major Australian
    food company that would deliver growth for shareholders, growers and the Goulburn
    Valley.



    David Lambert
    Company Secretary
 
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