Directors

1. Stephen Mills, Chairman FAICD

Term of appointment: 1 October 2007 to 30 September 2011

Stephen is a dairy farmer at Numurkah in Northern Victoria and also a director of Murray-Goulburn Co-operative Co Ltd, Australia's largest dairy processor. Stephen is passionate about Australia's irrigation industry and the achievements of irrigators in making the irrigation industry a strong, vibrant and sustainable sector of the Australian economy. Stephen was awarded the Centenary Medal for services to irrigation and he participated in the Prime Minister's 2020 Summit. In September 2008 Stephen retired as Chairman of Irrigation Australia Limited after 11 years as Chairman of IAL and its predecessor ANCID, the Australian National Committee on Irrigation and Drainage.

2. Craig Cook, Deputy Chairman B.Ec

Term of appointment: 1 July 2004 to 30 September 2011

Craig Cook is a management consultant to business and government. He is a director of the Rural Finance Corporation, a director of IM Medical and a deputy director of VicSuper Limited. Craig operates a beef cattle property and vineyard at Tallarook.

3. John Brooke OAM, Director B.Comm, B.Ed, FCPA, CA

Term of appointment: 1 July 2004 to 30 September 2011

John is an irrigation farmer near Pyramid Hill. He has extensive experience in local government, water resource management, business management and natural resource management. He is Chairman of Coliban Water and until 30 June 2009 a director of the North Central Catchment Management Authority.

4. Catherine Scott, Director B.Sc (Hons1), B.Comm, FAICD

Term of appointment: 1 October 2007 to 30 September 2011

Catherine operates a beef cattle property at Bylands near Kilmore. She has extensive experience in the finance/investment banking industry with a strong focus on infrastructure and agribusiness funding. She is a director of V-Line Passenger Pty Ltd and a former director of VicForests. Catherine is a director and Deputy Chair of Goulburn Valley Water.

5. Peter Fitzgerald, Director Advanced Dip.Ag, GAICD

Term of appointment: 1 July 2004 to 30 June 2010

Peter runs a dairy and beef operation at Tongala and Kotupna. He is a former Councillor for United Dairy Farmers of Victoria, a graduate of the Australian Rural Leadership Program and a graduate of the Australian Institute of Company Directors. From 1 July 2006 until 30 June 2009, Peter was a director of the Goulburn Broken Catchment Management Authority.

6. Des Powell, Director

Term of appointment: 1 July 2004 to 30 June 2010

Des is a business consultant to industries such as transport, logistics, forestry and water. He is Deputy Chairman of the Port of Melbourne Corporation, a Director of Barwon Water and a part time Commissioner of the State Services Authority.

7. Claire Penniceard, Director B.A (Hons), M Ed

Term of appointment: 1 October 2007 to 30 June 2010

Claire is the owner of The Pig Pen Pty Ltd, a significant business at Euroa that grows out pigs on contract to service specialist export markets, notably Japan and Singapore.

The enterprise showcases exemplary environmental, animal welfare and production outcomes, is a multiple national award winner and has a national reputation for excellence in the Australian pork industry.

Claire is presently a member of several Ministerial Committees including the Ministerial Women in Primary Industries Advisory Panel, the Ministerial Animal Welfare Advisory Committee and the

Ministerial Swine Industry Projects Advisory Committee.

8. David Stewart, Managing Director

BE (Hons), CPEng, FIEAust, GAICD

Term of appointment: 14 May 2008 to 30 June 2011

David has more than 25 years experience in water resource investigation, design and management projects throughout Australia and overseas. He is a fellow of the Institution of Engineers Australia,

a Chartered Professional Engineer and a graduate and Member of the Australian Institute of Company Directors. He is Chairman of the Australian National Committee on Large Dams (ANCOLD) and a

past Chairman of the Goulburn Valley Group, Institution of Engineers, Australia. He is a Graduate of Fairley Leadership Program 1999. In May 2009, David was chosen from amongst his peers by Engineers Australia as being among Australia's top 100 influential engineers.

9. Russell Barnier B.Juris LL.B FCIS

General Counsel and Corporate Secretary

Russell Barnier was appointed to his first company secretary position at National Australia Bank and has occupied several positions as Legal Counsel and Corporate Secretary since then, the most recent being 10 years in the public health sector with Melbourne Health. Russell has had a long involvement with Chartered Secretaries Australia and has held the roles of National President and International President of the parent body, the Institute of Chartered Secretaries and Administrators (UK). Russell is a governance professional who has published articles on the subject and for several years presented to students of the Graduate Diploma of Applied Corporate Governance.