Annual General Meeting 2004 of Barry Callebaut AG

The ordinary Annual General Meeting of Barry Callebaut AG, one of the world’s leading manufacturers of cocoa and chocolate products, was held on Wednesday, December 8, 2004, in Zurich under the chairmanship of Andreas Schmid, Chairman of the Board. All motions proposed by the Board were adopted. 289 shareholders attended the meeting, representing 4’052’837 shares or 87.39 % of the share capital.

The shareholders approved the proposed par value reduction and repayment of CHF 7.80 per registered share, in lieu of a dividend, and the amendment of the respective provision of the articles of association. The payment of the par value reduction is expected to take place on February 21, 2005, free of charges and net of income and withholding tax for shareholders with tax domicile in Switzerland.

Ernst & Young AG, Zurich, were confirmed as auditors and group auditors of the company for fiscal year 2004/05.

Dr. Urs Widmer, former Chairman and CEO of Ernst & Young Holding and active today as a lawyer, and Markus Fiechter, CEO of KJ Jacobs AG, were newly elected to the Board of Directors. The shareholders confirmed the re-election of the present directors Rolando Benedick, Andreas Jacobs (Vice Chairman), Andreas W. Keller and Andreas Schmid (Chairman) for another term of office of one year. Dr Johann Christian Jacobs, member of the Board since 2001, stepped down at today’s Annual General Meeting. The Board of Directors wishes to thank him for his valuable contribution to the further development of the company.

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Barry Callebaut:
With annual sales of more than CHF 4 billion for fiscal year 2003/04, Zurich-based Barry Callebaut is one of the world’s leading manufacturers of high-quality cocoa, chocolate and confectionery products – from the cocoa bean to the finished product on the store shelf. Barry Callebaut operates more than 30 production facilities in 22 countries and employs approx. 9,000 people. The company serves the entire food industry, from food manufacturers to professional users of chocolate (such as chocolatiers, pastry chefs or bakers), to global retailers. It also provides a comprehensive range of services in the fields of product development, processing, training and marketing.

Results for the first 3 months of the current fiscal year will be published on January 13, 2005 (news release, Letter to Shareholders and telephone conference for analysts/media).