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Sunday, June 29, 2003

Coffee and controversy: Torrance-based Farmer Bros. weighs options

For the price of one share of Farmer Bros. Co. stock, you could order about 100 Venti-sized caffe lattes at a typical South Bay Starbucks.

Family feuds over trusts, control of business

As dissident investors lob withering criticism at the Torrance-based coffee roaster and distributor Farmer Bros. Co., a family feud involving the chairman and the family of his sister has added another dimension to the controversy surrounding the firm.

Firm has diversified product line, but coffee is still king

Seemingly endless rows of burlap sacks filled with nearly 20 million pounds of green coffee beans dwarf those who enter the cavernous warehouse at Torrance-based Farmer Bros. Co.

Company has stepped back from tight-lipped approach with media

For a company whose products end up steaming hot in a coffee mug, Farmer Bros. Co. brewed an icy relationship with the media. Indeed, relationship may be an overstatement.

 

 

The Forum is open to all Farmer Bros. shareholders, whether institutional or individual, and to professionals concerned with their investment decisions.  Its purpose is to provide shareholders with access to information and a free exchange of views on issues relating to their evaluations of alternatives.  As stated in the Forum's Conditions of Participation, participants are expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants.  It is a Forum rule that participants will not be identified or quoted without their explicit permission.

There is no charge for participation.  Franklin Mutual Advisers, LLC, the manager of funds owning approximately 12.6% of Farmer Bros. shares, provided initial sponsorship for the Forum and arranged for it to be chaired by Gary Lutin.  Continuing support and guidance of the Forum is provided by an Advisory Panel of actively interested shareholders.

For additional information or to be included in an email distribution list, send an inquiry to farm@shareholderforum.com.