Re Joint Venture

Glanbia PLC
09 July 2003


  New $170m USA cheese and whey products facility planned by Glanbia in Joint
                          Venture with DFA and Select



Glanbia plc announces that it is in advanced negotiations with Dairy Farmers of
America, Inc. ('DFA') and Select Milk Producers Inc. ('Select') to build a $170m
cheese and whey products production facility in the Western Texas / New Mexico
region of the USA. This new plant will be 50% owned by Glanbia with the balance
jointly owned by DFA and Select. The proposed project will be funded by way of
$35 million of equity investment each by Glanbia and DFA/Select (total $70m)
with the remainder directly financed by the Joint Venture entity.



If the project proceeds as planned, commissioning of the new facility is
expected in the second half of 2005. Once fully operational, it is anticipated
that the new facility will generate sales in the region of $340 million per
annum and will employ approximately 200 staff. Glanbia will have full
responsibility for operations and for sales and marketing of the product stream
through its existing structures.



Once fully commissioned, the new facility will annually process over 1 billion
litres of milk and produce 115,000 tonnes of cheese and 7,500 tonnes of high
value added whey proteins. It is expected that the plant will also, over time,
become the largest advanced whey processing facility in the Northern Hemisphere.



Commenting on the announcement, John Moloney, Group Managing Director, Glanbia
plc, said, 'This project will be a significant step forward in the
implementation of Glanbia's growth strategy. It will position us as the number
one producer of American type cheddar cheese in the USA and simultaneously build
our global position as a supplier of advanced technology whey proteins to the
nutritional sector. We are delighted to partner with DFA and Select on this
project. These co-operatives have access to a growing, large scale milk pool in
the West Texas / New Mexico region.'



Gary Hanman, CEO of DFA added, 'In conjunction with Select and other dairy
farmers in the Greater Southwest Agency, we have a rapidly growing milk supply
in that region of the country.  We are pleased to have joined forces with an
operating partner of Glanbia's calibre.  We have a long-standing relationship
with Glanbia, which has built a reputation in the USA for developing and
operating large scale, efficient facilities. We look forward to working closely
with them to maximize market opportunities for the benefit of all our
stakeholders'.



Mike McCloskey, CEO of Select added, 'As a co-op comprising large scale dairy
producers in the Southwest region of the USA, we are looking forward to
extending our relationship with DFA and joining with Glanbia in developing what
will be one of the most modern and efficient facilities of its kind in the
world. This is a major project which will greatly benefit all milk producers in
the region.'



ENDS

9 July 2003



Additional Information:

Glanbia plc is an international cheese, nutritional ingredients and consumer
foods company with operations in the USA, Ireland and the UK. It is the largest
dairy processor in Idaho, USA and is a global player in advanced technology
dairy-based nutritional ingredients. Headquartered in Kilkenny, Ireland, the
Group had sales in 2002 of €2.3 billion.



Dairy Farmers of America, Inc., headquartered in Kansas City, Missouri, is the
largest dairy co-operative in the United States and the largest marketer of
fluid milk in the world. During 2002, DFA marketed 21.7 billion litres of milk,
constituting 28.2% of total US milk production. In addition the company operates
27 manufacturing plants that produce a wide range of dairy products. 2002 sales
amounted to $6.4 billion.



Select Milk Producers Inc. was formed in 1994 by a group of large dairy
producers in New Mexico. The majority of members are located in the New Mexico /
West Texas region, which is the fastest growing milk producing region in the
USA.  The group supplies a range of America's leading food manufacturers with
quality fluid milk, both natural and concentrated, for further processing. In
2002 Select sold 1.4 billion litres of milk with a value of $400 million.



Issued by:                  Corporate Communications, Glanbia plc.


Enquiries to:


Ireland:                    Jim Milton, Murray Consultants
                            Tel: [phone] (w), [phone] (m)


UK:                         John Olsen / Tom Leatherbarrow, Hogarth PR
                            Tel: [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange