ML Macadamia Orchards, L.P. Announces Second Quarter Distribution

Business Wire, June 8, 1999

HONOLULU--(BUSINESS WIRE)--June 7, 1999--

ML Macadamia Orchards, L.P. (NYSE:NUT) announced today a quarterly cash distribution of $0.10 per Class A Unit, to be paid on Monday, Aug. 16, 1999, to unitholders of record as of Wednesday, June 30, 1999.

The $0.10 cash distribution indicates an annualized rate of $0.40 and a yield of 10.5%, based on the NYSE closing price of $3.813, as of June 7, 1999.

This payment also represents a 33% increase over last year's distribution rate and will be the 53rd consecutive distribution paid since the Partnership's inception in 1986.

The regional diversification of the Partnership's orchards proved to be very beneficial over the past year. While the Ka'u region experienced difficult growing conditions caused by the El Nino related drought, the orchards in Keaau produced its largest crop ever, giving the Partnership fairly steady total production and revenue.

ML Macadamia Orchards, L.P. is the world's largest grower of macadamia nuts, owning or leasing 4,027 acres of orchards on the island of Hawaii, where macadamia yields are the highest in the world.