Agribusiness Partners International Enters into an Agreement to Sell Its Controlling Stake in FoodMaster International.

OMAHA, Neb. -- Agribusiness Partners International L.P., (API) a $100 million OPIC supported private equity investment fund located in Omaha, NE, announced today that it has sold its controlling stake in FoodMaster International to Groupe Lactalis of Laval, France. FoodMaster is the leading dairy products company in Kazakhstan and Moldova and one of four market leaders in Ukraine. The company operates seven factories in the region and employs approximately 2,300 people. FoodMaster expects to achieve sales revenue of $60 million for the fiscal year ended 2004.

Groupe Lactalis, a privately held company established in 1933, is one of the largest dairy companies in the EU. Groupe Lactalis specializes in cheese and also produces milk, butter, cream, yoghurt and chilled desserts. Lactalis plans to consolidate its presence in the CIS zone and develop the President brand name.

Robert Peyton, President and CEO of Agribusiness Management Company, the fund manager of API, said "This transaction enables FoodMaster to become part of one of the leading dairy products companies in the world. The transaction is considered by management to be a win/win situation for FoodMaster, its employees, the host countries of Kazakhstan, Ukraine and Moldova, as well as Groupe Lactalis. Our sincere congratulations to all parties involved."

Omaha based API is a private equity investment fund whose general partner is America First Companies, LLC. America First Companies, LLC, is an investment banking firm headquartered in Omaha, Nebraska. The company has sponsored investment programs with investments in multifamily real estate, banking and emerging markets. Its Emerging Markets group includes Agribusiness Partners International, L.P., a partnership invested in five remaining food processing/packaging companies in Russia and Georgia.