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Request for Timely Disclosures Relating to Announced Developments

(December 30, 2003)

Copied below is a December 30, 2003 letter to the directors of Farmer Bros. Co. encouraging the company's immediate compliance with disclosure requirements relating to developments announced in a December 24, 2003 press release.

The letter expresses concern about providing shareholders with sufficient time to consider information about the announced developments before voting on matters to be presented at an annual meeting scheduled for January 21, 2004.

 

 

[letterhead]

LUTIN & COMPANY

575 Madison Avenue

New York, New York 10022

Telephone (212) 605-0335

Facsimile (212) 605-0325

 

                                                            December 30, 2003

 

By telecopier: 310/320-2436

 

Messrs. Guenter W. Berger,

Lewis A. Coffman,

Roy E. Farmer,

Roy F. Farmer,

Thomas Maloof,

John H. Merrell, and

John Samore, Jr.

c/o Farmer Bros. Co.

20333 South Normandie Avenue

Torrance, California 90502

 

To the members of the board of directors of Farmer Bros. Co.:

 

            On December 24th the company announced several developments which are of great interest to investors, including the Crowe family settlement and associated stock transactions, changes in ESOP governance, an investment banking engagement, and revisions of management's proposal for reincorporation.  Unfortunately, as of 3:00PM this afternoon, there have been no disclosures of documents or detailed reports which would allow your public shareholders to understand how any of these developments should influence their investment decisions.

 

            Some of these investment decisions will involve voting for matters to be presented at the annual meeting of shareholders now scheduled for January 21, 2003, only three weeks from tomorrow.  If shareholders are to have time for reasonable consideration of the new information, you must make the required disclosures immediately.

 

                                                            Sincerely yours,

 

 

 

 

                                                            Gary Lutin

 

cc:        John M. Anglin, Esquire

 

 

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.