ML Macadamia Orchards, L.P. Increases First Quarter Distribution 33%

Business Wire, March 9, 1999

HONOLULU--(BUSINESS WIRE)--March 8, 1999--ML Macadamia Orchards, L.P. (NYSE:NUT) today announced a cash distribution of $0.10 per Class A Unit, to be paid on Friday, May 14, 1999, to unit holders of record as of the close of business on Wednesday, March 31, 1999.

This payment represents a 33% increase over the previous distribution rate, and it will be the 52nd consecutive distribution paid since the Partnership's Class A Units began trading publicly in June 1986.

Although macadamia nut production in the drought-affected region of Ka'u decreased in 1998 by 15%, the regional diversification of the orchards proved quite beneficial. Production in the orchards in Keaau, which normally have too much moisture, increased by 16% in 1998.

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. The Partnership's Class A Units trade on the New York Stock Exchange (symbol = NUT).