MARBLE HLL, GA, January 7, 2008—Following extensive research, discussions and planning, a new pathway for change has been established that will reposition New Zealand strong wool through premium fiber branding.

As a result of this initiative, a new business with fiber sales capabilities will be created. It will also offer creative marketing, public relations and sales training support. It is anticipated that this new entity will be operational by July 2008. In the interim, the U.S. office of Wools of New Zealand will remain open and is accessible as usual.

The organization spearheading this initiative is The Wool Industry Network, which was formed in July 2006 by Meat and Wool New Zealand and New Zealand Trade and Enterprise to secure a more sustainable future for the New Zealand strong wool sector. The development of their strategy is guided by four priorities - grower unification, consolidation of the wool clip, industry collaboration and innovative marketing.

Wool Industry Network Chairman Sue Sheldon says, “The Network very early on identified the key problem as being that New Zealand strong wool is a niche product which continues to be traded as a commodity. This means its true value is neither recognized by the market nor realized in financial terms.”

“One of the fundamentals to the success of the strategy will be unification of woolgrowers,” adds Mike Jones, Network CEO. “The importance of a united grower group behind a strong, market-led company supporting their fiber is imperative for the wider wool sector to thrive. Through the implementation of this strategy, New Zealand strong wool will be firmly repositioned as a premium fiber.”

During the transitional phase, Wools of New Zealand partners will continue be able to use the Wools of New Zealand Brand through 2008 and access space in the New Zealand Wool area of Surfaces 2009.

Further information on the Wool Industry Network strategy can be downloaded from www.woolnetworknz.co.nz.