Following strong public interest for shares in the Initial Public Offering (IPO) of The Australian Agricultural Company (AACo), Futuris Corporation Limited (ASX Code: FCL) and AACo have decided to exercise their right under the prospectus and close both the Retail Offer and Futuris Shareholder Offer early.

The offers will close at 5pm on Friday, July 27.  Meanwhile the institutional bookbuild has also been brought forward to open on Thursday, July 26 and close on Friday July 27. 

It is expected that the final price will be announced on Monday, July 30, 2001 and AACo's shares are expected to commence trading on the Australian Stock Exchange on Thursday August 9, 2001.

Retail investors apply for AACo shares at a price of $1.00 per share (the Retail Price), while the Indicative Price Range for the institutional bookbuild remains at $1.00 to $1.10 per share. 

The offer has been kept open for this week to allow Eligible Futuris shareholders and noteholders the opportunity to secure their priority allocation (up to $2,000) at the Retail Price, and all parties are advised to send in their applications as soon as possible. 

Note:  The formal offer for shares in AACo is being made in the prospectus dated 6 July 2001 lodged with ASIC on that date (together with the supplementary prospectus dated 19 July 2001).  Anyone wishing to acquire shares in AACo will need to complete the application form accompanying the prospectus.  A copy of the prospectus can be obtained through AACo's website - www.aaco.com.au - or by calling a toll free number 1800 550 070.