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Shareholder Delegate's Repeated Demand for Information

(April 11, 2003)

In the absence of any response from Farmer Bros. management to the shareholder Delegate's letters of March 13, 2003 and March 31, 2003, the letter copied below was sent to the company on April 11, 2003 repeating the Delegate's demand for the production of records pursuant to Section 1601 of the California Corporation Code law.  Noting that the demand requires only the administrative task of copying what was recently produced in response to an identical list of records in the July 26, 2002 demand of Franklin Mutual Advisers, the letter also asks management to inform the Delegate of any reasons why compliance may require more than a week.

 

 

Peter F. Brennan

c/o Americap Partners LP

237 Park Avenue, 9th Floor

New York, New York 10017

Telephone: 212/692‑7648; Facsimile: 212/692‑7657

 

 

April 11, 2003

 

 

By telecopier: 310/320-2436

 

Mr. John E. Simmons

Secretary of the Corporation

Farmer Bros. Co.

20333 South Normandie Avenue

Torrance, California 90502

 

 

Re: March 13, 2003 demand to inspect records

 

Dear Mr. Simmons:

 

            No response has been received to the letters I sent you on March 13 and March 31, 2003 as Delegate.  There has also been no evidence of any public report by Farmer Bros. Co. of the information requested in the March 13 letter, or of any report of management’s intentions to respond as requested in the March 31 letter.

 

Under these circumstances, I repeat the demand of the March 13, 2003 Delegate letter for the records listed in items “1” through “6.”  Since this demand is exactly the same as the demand of Franklin Mutual Advisers to which you reportedly responded several weeks ago, your compliance with the March 13 Delegate demand should require no more than an hour or two of administrative time to copy and mail a duplicate of the previous response.  I will therefore expect you to comply by April 18, 2003, unless you inform me immediately of some reasonable need for additional time.

 

            The requested public report of information should no longer be considered an alternative to your compliance with the demand for records.  The records should now be produced in any event.  It is assumed that you will independently report investor information to the public, as required by regulations and your duties to shareholders.

 

                                                            Very truly yours,

 

 

 

                                                            Peter F. Brennan,

                                                                        as Delegate

 

 

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.

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