MIRA INFORM REPORT

Report Date :

01.12.2012

IDENTIFICATION DETAILS

Name :	FRIESLANDCAMPINA NUTRIFEED B.V.

Registered Office :	Low Landstraat 7, 5462GJ Veghel

Country :	Netherlands

Financials (as on) :	31.12.2011

Date of Incorporation :	18.11.2003

Com. Reg. No.:	11057385

Legal Form :	Limited company

Line of Business :	Wholesaler of arable farming products and cattle feeds

No. of Employees :	100 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Slow but Correct

Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Netherlands

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Netherlands - ECONOMIC OVERVIEW

The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.

Source : CIA

CONTACT INFORMATION

Company name	FrieslandCampina Nutrifeed B.V.
Tradename	Holland Dairy Feed
	FrieslandCampina Dairy Feed
	FrieslandCampina Nutrifeed B.V.
	Jalutra
	Nutrifeed
	FrieslandCampina Corporate Procurement
	FrieslandCampina Innovation
Address	Low Landstraat 7
	5462GJ Veghel
	Netherlands
Mail address	Postbus 441
	5460AK Veghel
	Netherlands
Telephone number	0413372600
Telefax number	0413340860
E-mail address	unknown
Website	unknown
VAT number / RSIN	812540359

COMPANY STRUCTURE

Shareholder FrieslandCampina Netherlands Holding B.V.

Stationsplein 4

3818LE Amersfoort

Netherlands

KvK: 18039614

Active since: 23-12-2003

Percentage: 100.00%

Ultimate parent company Zuivelcoöperatie FrieslandCampina UA

Stationsplein 4

3818LE AMERSFOORT

KvK: 11024221

Holding company FrieslandCampina Netherlands Holding B.V.

Stationsplein 4

3818LE Amersfoort

KvK: 18039614

Subsidiary Foundation "De Schothorst

Meerkoetenweg 26

8218NA LELYSTAD

KvK: 41188144

Affiliated companies FrieslandCampina Participations B.V.

Stationsplein 4

3818LE AMERSFOORT

KvK: 01037390

FrieslandCampina Kaaspakhuizen B.V.

Frisaxstraat 4

8471ZW WOLVEGA

KvK: 01085277

FrieslandCampina Waterzuivering Beheer B.V.

Frisaxstraat 4

8471ZW WOLVEGA

KvK: 01089345

FrieslandCampina Kievit B.V.

Oliemolenweg 4

7944HX MEPPEL

KvK: 01123235

FrieslandCampina Domo B.V.

Stationsplein 4

3818LE Amersfoort

KvK: 01164917

Polderland Zuivel B.V.

Traverse 2

3905NL Veenendaal

KvK: 06043724

FrieslandCampina Creamy Creation B.V.

Hoogeindsestraat 31

5447PE RIJKEVOORT

KvK: 06047328

Consalac B.V.

Stationsplein 4

3818LE AMERSFOORT

KvK: 08039648

Mupol B.V.

Hogeweg 9

5301LB ZALTBOMMEL

KvK: 09090066

FrieslandCampina Riedel B.V.

Frankeneng 12

6717AG Ede

KvK: 09172592

FrieslandCampina Employees B.V.

Frisaxstraat 4

8471ZW WOLVEGA

KvK: 11025399

FrieslandCampina Cheese & Butter B.V.

Stationsplein 4

3818LE Amersfoort

KvK: 31016313

FrieslandCampina Consumer Products International B.V.

Pieter Stuyvesantweg 1

8937AC LEEUWARDEN

KvK: 11057383

FrieslandCampina Consumer Products Europe B.V.

Stationsplein 4

3818LE AMERSFOORT

KvK: 11057384

FrieslandCampina DMV B.V.

N.C.B.-laan 80

5462GE VEGHEL

KvK: 11057386

FrieslandCampina Valess B.V.

Stationsplein 4

3818LE AMERSFOORT

KvK: 18076078

Kaashandel Culemborg B.V.

Industriestraat 14

3371XD HARDINXVELD-GIESSENDAM

KvK: 23078916

FrieslandCampina Netherlands B.V.

Stationsplein 4

3818LE AMERSFOORT

KvK: 27116160

Zutrans B.V.

Frisaxstraat 4

8471ZW WOLVEGA

KvK: 30144920

Bomeka B.V.

Blankenstein 142

7943PE MEPPEL

KvK: 32061627

Liability declaration Koninklijke FrieslandCampina N.V. (11057544)

Stationsplein 4

3818LE AMERSFOORT

Bank ABN Amro Bank NV

Account number: 48.37.97.200

MANAGEMENT

Management FrieslandCampina Netherlands Holding B.V.

Stationsplein 4

3818LE Amersfoort

Netherlands

KvK: 18039614

Authorization: Fully authorized

Position: Manager

Date appointed: 01-01-2010

J.F.R. Boonstra

Jurjen Folke Romke