SELECT HARVESTS LIMITED — Capital/Financing Update 2005

Oct 16, 2005

17 October 2005

ASX ANNOUNCEMENT

Select Harvests completes the divestment of its Pesticides business

On 23 August 2005, Select Harvests Limited signed a contract to sell all of its shares in Riverina Pelletising Services Pty Ltd ("Pesticides business") to Australian Businesspoint Pty Ltd for a total consideration of $5.7 million.

We are pleased to announce that the sale of the shares in the Pesticides business was completed on Friday 14 October 2005.

For further information

John Bird (Managing Director) Marcello Mattia (Chief Financial Officer)

$(03)$ 9474 3544

About Select Harvests Limited

Select Harvests Limited, Australia's largest almond grower, manages in excess of 60% of Australia's almond orchards, and is one of the largest almond growers globally. It is also Australia's leading manufacturer, processor and marketer of a range of nuts, fruit based, and associated products to the Australian retail and industrial markets, and exports almonds to several countries in Asia, Europe and the Middle East.

Select Harvests' business streams are as follows:

Almond Operations

• Owns/leases and manages almond orchards in the Robinvale area of north-west Victoria.

• Manages on a fee for service basis, almond orchards on behalf of a number of external investors. These services include orchard establishment, farm management, harvesting, processing, and marketing.

• Currently handles approximately 40% of Australia's almond crop from owned and managed orchards.

• Exports approximately 40% of its almond production to a range of countries including India, Japan, China, Indonesia, Germany, Spain, United Kingdom, Russia, France, Holland and Belgium.

Food Products

• Produces an extensive range of packaged nuts and associated products (snacks, cooking ingredients, mueslis, natural health foods, dried fruits, etc).

• Australia's leading supplier of processed and packaged nuts to Australian supermarkets. The Company markets product through the Lucky, Sunsol, Nu-Vit, Meriram and Soland brands.

• Manufactures a range of nut-based ingredients for food manufacturers and distributors.