FirstFarms A/S buys Romanian agricultural company and 1,400 hectares of land in Eastern Romania and starts buying up land in a third region in Romania

Today, FirstFarms has entered into an agreement of buying a Romanian
agricultural company, S. C. Agrisole s.r.l., which has the ownership
of 1,400 hectares of land approx. 80 km from Bucharest. The purchased
company and the land are sited nearby the region, where FirstFarms
already buys up land in smaller parcels. The land is sited in the
so-called "black earth region" where the land is of high land
quality.

With the purchase of S. C. Agrisole and the land belonging,
FirstFarms plans to cultivate 1,000 hectares of the land already in
2008/2009 for production of sales crops in 2009. It will in that way
be the second area in Romania, where FirstFarms establish
agricultural production. The land that the company operates in the
two regions in Romania will hereafter amount to a total cultivated
area of approx. 4,000 hectares.

The Romanian company and the land are bought at a price that
corresponds to the level FirstFarms earlier has announced.

In 2008, the accounting effect of the purchase will be a negative
effect on EBIT with DKK 0.2 million as a result of increased
administration costs, land tax, insurances etc. Effect on the result
before tax is expected to be DKK -1.5 million as a result of a net
interest effect of DKK -1.3 million. The costs of preparing and
sowing crops in the autumn will be approx. DKK 1.6 million, which
will be entered into the stock at the end of the year.

With a cautious valuation of the sales prices, the effect of
cultivation of the 1,000 hectares in 2009 will be a turnover of DKK
7.2 million and an EBIT of DKK 1.9 million.

Furthermore, FirstFarms has started buying up of land in a new area
of Romania, near the town Alexandria, where agreement has been
entered of buying 137 hectares of land. The land is sited in the
so-called "black earth region", approx. 80 km from Bucharest.

FirstFarms has purchased a total of 7,547 hectares of land in
Romania. Of these, 4,114 hectares is sited in Eastern Romania near
Buzau, 3,296 hectares is sited in the Western Romania near Timisoara,
and the remaining 137 hectares is sited near Alexandria. The average
price for the purchased land in Romania is DKK 16,500 per hectares.


For further information:
Please visit our web site www.firstfarms.com or
contact CEO Kim Stokholm on telephone +45 75 86 87 87