25 May 2005

NEW LEADERSHIP AT MURRUMBIDGEE IRRIGATION

The Board of Murrumbidgee Irrigation is pleased to announce new leadership arrangements.

The Board has appointed Company Secretary John Chant as Chief Executive through a transition period to the end of November this year and at that time current Operations Manager Brett Tucker will assume the Chief Executive’s role.

This will allow Brett to complete a number of critical initiatives and with John’s wealth of experience provide a seamless transition.

These moves are part of a strategic succession plan that the Board has been working towards for some time.

Dick Thompson, Chairman of Murrumbidgee Irrigation has expressed his enthusiasm for the new leadership arrangements while at the same time highlighting the enormous contribution of Geoff Hipkins within the role.

“The Board has been very pleased with the way Geoff has led the Company over the last three years,” said Mr Thompson. “It has been a difficult time for everyone involved with water and irrigation and Geoff has produced excellent results for our shareholders and the broader community.”

During Geoff’s tenure he has overseen many major projects including the approval process for the development at Barren Box, the commissioning of a number of new infrastructure projects and significant work on the internal operations of the Company.

“We extend our best wishes to Geoff and Liezl in their new venture in New Zealand” said Mr Thompson.

“We now welcome John and Brett into their new roles and look forward to their dynamic contribution to the Company’s future” concluded Mr Thompson.