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Press Release Source: Farmer Bros. Co.

Farmer Bros. Board Names Director, Declares Dividend
Tuesday August 17, 7:46 pm ET

TORRANCE, Calif.--(BUSINESS WIRE)--Aug. 17, 2004--Farmer Bros. Co. (Nasdaq:FARM) announced the appointment of Kenneth R. Carson to the Board of Directors, filling a vacancy created with the passing of Roy F. Farmer this spring. Mr. Carson recently retired as Vice President - Sales after 39 years with the Company.

"Ken Carson will provide the Board with his valued insight into our industry and our efforts to energize our sales. His contributions to the Company are many and varied, and we will prosper with his guidance in the board room," said Roy E. Farmer, Chairman and Chief Executive Officer.

Mr. Carson joined the Company's sales organization in 1965, and held positions in Los Angeles, Salt Lake City and St. Louis prior to entering senior management ranks. He was promoted to Sales Manager in 1987 and Vice President - Sales in 1990.

"We have worked hard to design a modern sales infrastructure for our sales team," said Mr. Carson. "I look forward to seeing this infrastructure begin to contribute to our sales effort. We believe our customers and our shareholders will appreciate the results of so much hard work."

The Board of Directors also declared a dividend increase to $0.10 per share, payable on November 8, 2004.

"We are proud to be able to increase the dividend during a difficult year," said Mr. Farmer. "This increase rewards our long term shareholders, and it marks Farmer Brothers' 52nd consecutive year of paying a dividend, and the eighth consecutive annual dividend increase."

Farmer Bros. Co. is an institutional coffee roaster that sells a variety of coffee and allied products to the food service industry. The Company's signature trucks and vans bearing the "Consistently Good" logo are seen throughout Farmer Brothers' 28-state service area. The Company's stock price has grown on a split-adjusted basis from $1.80 a share in 1980.


Contact:

     Abernathy MacGregor Group
     Jim Lucas / Marissa Petri, 213-630-6550

Source: Farmer Bros. Co.

 

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