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FOR IMMEDIATE RELEASE CONTACT: GREGORY A. SPRECHER
Senior Vice President
MONDAY, OCTOBER 02, 2000 Telephone: (808) 532-4133
ML MACADAMIA ORCHARDS, L.P.'S
EXCLUSIVE NUT PURCHASER SOLD
Honolulu, Hawaii - On September 29, 2000, ML Macadamia Orchards, L.P.
(NYSE = NUT) was informed that C. Brewer and Company, Ltd., the owner of Mauna
Loa Macadamia Nut Corporation ("Mauna Loa"), had sold all of the stock in Mauna
Loa to The Shansby Group, a San Francisco based private equity partnership. A
press release issued by the parties indicates that the management team at Mauna
Loa will continue in place.
Mauna Loa is the largest macadamia nut processor and distributor in the
world and is the exclusive purchaser of all of the Partnership's macadamia nuts
under long-term nut purchase contracts. The long-term nut purchase contracts
between Mauna Loa and the Partnership will remain in effect. However, since
Mauna Loa's performance partly determines the price that the Partnership
receives for its macadamia nuts, the Partnership has no way of knowing whether a
change in Mauna Loa's ownership would enhance or diminish Mauna Loa's
performance, and thus, affect the Partnership's returns.
This press release contains forward-looking statements regarding future
events and future performance of the Partnership that involve risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied by such statements. These include statements, among others,
regarding the Partnership's current and future nut prices, which are based on
certain assumptions and forecasts. The Partnership files documents with the
Securities and Exchange Commission, such as Form 10-K, Form 10-Q, and Form 8-K
reports, which contain a description of these and other risks and uncertainties
that could cause actual results to differ from current expectations and the
forward-looking statements contained in this press release.
ML Macadamia Orchards, L.P. is the world's largest grower of macadamia
nuts, owning or leasing 4,169 acres of orchards on the island of Hawaii, where
macadamia yields are the highest in the world.
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