During the 2008|09 financial year the Supervisory Board, in a total of four meetings and through regular reports from the Management Board and detailed written information, informed itself about the Company’s business situation and financial position, about all relevant matters concerning the business performance, about the financial situation, investment plans and exceptional business transactions as well as the corporate strategy, and discussed these matters with the Management Board. The intensive deliberations in the meetings of the Supervisory Board and committees centred on the corporate strategy and the opportunities for further development of the Group as well as the current challenges of the general economic environment. In addition, the Chairman of the Supervisory Board was in regular contact with the Chief Executive Officer to discuss strategy adjustments, business performance and risk management.

The Audit Committee met twice in the 2008|09 financial year; its chairman regularly reported to the Supervisory Board on the work of the committee. The Nomination and Remuneration Committee considered the personnel matters relating to the Management Board members and recommended to the Supervisory Board to appoint an additional Management Board member to do justice to the company’s development and expansion of recent years. This led to the appointment of Fritz Gattermayer to the Management Board with effect from 1 January 2009 by a decision of the Supervisory Board at its meeting on 13 November 2008.

No Supervisory Board attended fewer than half of the board’s meetings.

The consolidated financial statements, group management report, parent company financial statements and parent company management report of AGRANA Beteiligungs-AG for the 2008|09 financial year presented by the Management Board, as well as the accounting records, were audited by and received an unqualified audit opinion from the two independent auditors appointed by the Annual General Meeting, KPMG Austria GmbH, Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Vienna, and MULTICONT Revisions- und Treuhand Ges.m.b.H., Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Vienna. The Supervisory Board endorses the results of this audit.

The Audit Committee has reviewed the parent company financial statements and reported to the Supervisory Board in the presence of the auditors. The Supervisory Board has reviewed the consolidated financial statements and Group management report and the parent company financial statements and parent company management report of AGRANA Beteiligungs-AG for the 2008|09 financial year as well as the Management Board’s proposal for the allocation of profit. The final results of all of these reviews did not give rise to objections.

The Supervisory Board has approved the consolidated financial statements and parent company financial statements for the 2008|09 financial year prepared by the Management Board, which are thus adopted for the purposes of section 125 (2) of the Austrian Stock Corporation Act. The Supervisory Board endorses the Group management report and parent company management report for the 2008|09 financial year and is in agreement with the proposed appropriation of profit.

The Supervisory Board would like to express its appreciation and gratitude to the Management Board and all of the Company’s employees for their commitment and the work accomplished.

Vienna, May 2009

The Chairman of the Supervisory Board
Christian Konrad