15 February 2005

FURTHER ALLOCATION INCREASE

General Security allocation for Murrumbidgee Irrigation shareholders is now at 39%.

Geoff Hipkins, Chief Executive of Murrumbidgee Irrigation said this includes the Company’s 2% enhancement of the DIPNR allocation.

“The increase in allocation, while modest, is very welcome,” said Mr Hipkins. “We are aware that irrigators will be feeling increased pressure to finish crops, however it is important to continue to monitor available water very carefully to ensure use does not exceed allocation.”

Murrumbidgee Irrigation staff are able to provide water balance information.