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30 October 2009

NEW BRITAIN PALM OIL LIMITED

("NBPOL" or the "Company")

SIGNS AGREEMENT WITH UNITED BISCUITS TO SUPPLY 

CERTIFIED SUSTAINABLE PALM OIL

New Britain Palm Oil Limited (LSE: NBPO), a large scale integrated industrial producer of palm oil, is pleased to announce today that it has entered into a minimum two year supply agreement to provide United Biscuits ("UB"), a leading branded snacks business, with significant quantities of segregated, traceable and certified sustainable palm oil of the highest quality. 

This is the first supply agreement signed for NBPOL's UK refinery in Liverpool that is due to be completed in spring 2010. The refinery will have a dedicated supply source from NBPOL's certified sustainable plantations and so the palm oil will be fully segregated and traceable from seed to finished product.

UB is a leading branded snacks business, producing some of the best known and loved sweet and savoury snacks. Their brands include as McVitie's, Jacob's, Carr's, McVitie's Jaffa Cakes, Penguin, KP, Mini Cheddars, go ahead!, Verkade, Sultana, BN and Delacre. The range of products covers biscuits, crackers, savoury snacks, nuts and cake products. 

NBPOL's operations in West New Britain Province, Papua New Guinea are certified as conforming to the Roundtable on Sustainable Palm Oil's (RSPO) Principles and Criteria on sustainability.

UB, like NBPOL, has a high regard for environmental sustainability and both companies continue to improve their performance. NBPOL also has an international reputation for leading the plantation industry in all aspects of plantation management. 

Alan Chaytor, Executive Director of NBPOL, said:

"New Britain Palm Oil is delighted to have concluded this long term supply agreement to supply segregated, traceable and certified sustainable palm oil to United Biscuits. The agreement represents a significant part of our capacity from our UK palm oil refinery.

This agreement demonstrates that companies who are genuinely serious about buying sustainable palm oil can now do so from New Britain. Having such iconic British brands as UB's made with NBPOL's palm oil is recognition not only of their commitment to using segregated, traceable and certified sustainable palm but also of NBPOL as a credible, trusted supplier.

Our investment in our UK palm oil refinery is all about giving consumers the assurance that the products that they want to buy can now actually be made from affordable, segregated, traceable and certified sustainable palm oil, which NBPOL believes is often a better alternative to certificate trading schemes, such as GreenPalm.

We expect to sign further supply agreements in due course."

Dr Simon Roulston, Oils Sourcing Manager for United Biscuits, commented:

"UB has a clear goal to only use segregated, sustainable palm oil so that we can be sure that the palm oil in our products is the oil from the sustainable plantations. To this end we will have by mid 2010, two thirds of all palm oil and palm oil based ingredients sourced from segregated and sustainable sources with the remainder from un-segregated but still sustainable sources. By the end of 2011 we aim to have 100% of our palm oil sourced on a segregated and sustainable basis. 

This supply agreement with New Britain, which covers the majority of our oil, is a major step forward in achieving that goal. Until segregated sources are available for all palm oil based ingredients we will use certified oil to ensure that our products are produced sustainably.

In parallel we have also been working to reduce the amount of palm oil that we use and since 2005 we have achieved a 40% reduction in palm oil. 

As a member of the Roundtable for Sustainable Palm Oil, we have been working hard to ensure that we play our part in protecting the environment while continuing to provide consumers with the high quality products that they expect.  

UB is one of the first food manufacturers to secure a supply of sustainable palm oil that is segregated throughout the supply chain to ensure that the oil used in its products is the oil from the sustainable plantations.  The first delivery of this oil is due in December 2009 and by mid 2010 any UB branded biscuits containing palm oil will be made with sustainable palm oil.

UB is delighted to be working with NBPOL who are pioneers in the production of sustainable palm oil."

Enquiries:

Kreab Gavin Anderson  James Benjamin  Anthony Hughes	Tel: +44(0)20 7074 1800 / +44(0)7747 113 930 Email: nbpol@kreabgavinanderson.com
New Britain Palm Oil Limited Nick Thompson Alan Chaytor	Tel: +44(0)20 7074 1800 / +44(0)7747 113 930
United Biscuits Bob Brightwell	Tel:+44(0) 20 8234 5104 Email: BrightwR@unitedbiscuits.com

Website: http://www.nbpol.com.pg 

Website: http://www.unitedbiscuits.com 

Notes to editors

New Britain Palm Oil Limited is a large scale integrated industrial producer of sustainable palm oil in Australasia and is headquartered in Papua New Guinea ('PNG'). It has over 44,500 hectares of planted palm oil plantations and long term leases over 30,000 hectares of additional land, some of which will be converted to palm oil, six oil mills, a refinery and a seed production and plant breeding facility. The Company is quoted on both the Main Market of the London Stock Exchange and on the Port Moresby Stock Exchange in PNG.

NBPOL is fully vertically integrated, producing its own seed (which it also sells globally) and planting, cultivating and harvesting its own land and processing and refining palm oil. It also contracts directly with its end customers in the EU and arranges shipping of its products. 

NBPOL has high regard for the importance of its sustainability credentials and is active in proving its performance.

United Biscuits is a leading branded snacks business, producing some of the best known and loved sweet and savoury snacks. Our classic brands have been delighting consumers for generations and include such favourites as McVitie's, Jacob's, Carr's, McCoy's, Hula Hoops, McVitie's Jaffa Cakes, Penguin, KP, Mini Cheddars, go ahead!, Verkade, Sultana, BN and Delacre. The range of products covers biscuits, crackers, savoury snacks, nuts and cake products. 

We are the leading overall snack manufacturer in the United Kingdom and hold leading segment positions in our other core markets of The Netherlands, France and Belgium. We have a long heritage, stretching back nearly 200 years. The quality and uniqueness of our products and brands means they also have global appeal. Strong growth is continuing in our international business which serves consumers from North America to the Middle East, Asia, Africa and Australia.

• UB products are bought by 96% of UK households every year

• Production is managed out of 15 factories located in the UK, France, Belgium and The Netherlands, including Europe's two largest biscuit factories

• UB has 8,500 employees

We aim to drive sustainable growth in all that we do, focusing on the financial, environmental and community aspects of the business.

New Britain Palm Oil Limited, United Biscuits and Pacific Rim Plantation Services Pte Ltd are members of the RSPO.

Website:  http://www.rspo.org/ 

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