Rodney Culleton

to
ANZ Australia

April 17, 2015

OPEN LETTER to Stephen RIES,

Head of Media Relations, ANZ Bank

Stephen, in response to your ANZ media release dated 12 April, 2015, your statement is inaccurate and
misleading.

I will, however, deal only with the inaccuracies concerning the Culleton family here.

The Culleton family, as individuals, or as a group, were not customers of the ANZ bank regarding these
claims, as you erroneously stated.

How then did ANZ Bank obtain court orders to sell my property, without a court hearing or the required
documentation, as claimed. Please provide the relevant court orders, including orders from the
Supreme Court of WA found in favour of ANZ, as stated in your response document.

Background:
Australian Wheat Board ( AWB) was the Arranger and Manager of the Rural Program Trust (Growers
Funding)

1993: Dalgety Farmers Limited was purchased by LFD Limited, a wholly owned subsidiary of ANZ Bank.
LFD Limited also operates as subsidiary of ANZ Funds Pty Ltd. Shareholders include ANZ Banking Group
Limited (Hong Kong), later renamed as LFD Pty Ltd a subsidiary at that time to AWB.
ANZ Bank operates in New Zealand as ANZ National Bank Limited. ANZ National Bank Ltd later retired its
brand and was renamed as ANZ BANK.

10th November 2005: commencement of the Cole Enquiry into the oil for food scandal.

15th November 2005: Master Trust Deed established for the RURAL Program between AWB Services
and Permanent Custodians Ltd (PCL). A Supplemental Deed was created outlining the services including
the external funders which included ANZ BANK. Rabo Australia Limited exits, however Rabobank
Australia Limited remains as one of the hedge providers.

7th August 2006: AWB listed as a troubled company with the Asia Pacific Report. Between early 2000
through to 2010, the AWB comes under attack with the Oil for Food Scandal facing a number of actions
around the Iraq payment kick backs to Sadam Hussein.

Actions include:
1)Class action for $1 Billion Dollars by the North American Farmers
2) Shareholders sue and settle for $39.5 Million
3) Federal Police investigation
4) ACCC investigates
5) AWB losses around $80 Million in Brazil through trading losses

2008: Mr David Hisco, was appointed head of ANZ Global Commercial Bank , New Zealand

March 2009: Landmark Operations Limited ( LOL) approves an interest only loan package of $3.2 million
till to 2022; Loan contact between Elite Grains Pty Ltd and the Lender ( PCL) for the Rural Programme
with bank accounts S11 and S14 (LOL accounts BSB 032-856;Account No 613754).
PCL lending under the Rural Trust had a tranche date and expired in early 2010, meaning there was no
approved funding past March 2010 and therefore unable to continue till 2022. This was never disclosed
to Elite Grains and its directors when the loans were taken out. This affected Elite Grains Pty Ltd
business plans greatly.

June 2009: David Hisco, Group Managing Director ANZ Commercial Bank, announces that ANZ Bank is to
become a super regional rural bank in the Asia and South Pacific Market, including and covering India,
leveraging through NZ.

19th June 2009: LOL approaches one of the Culletons enterprises Australian Keg Company Pty Ltd to
make an offer for the exclusive rights of the intellectual property ( invention of the Culletons) for the
Agri-business market in Australia ( Landmark) and NZ
( RD1). The Culletons declined the offer as it was our belief that LOL was a subsidiary of the ANZ bank.

24th December 2009: Letter addressed to Landmark Customers co-signed by a Mr David Hisco. The ANZ
Bank announces new working relationship with Landmark and all current working facilities will remain in
place and states that there was no need to reapply for credit, " Business as usual".

1st March 2010: ANZ Bank acquires the Landmark Operations Limited Loan-book. The
Landmark Agri Business Managers abandon their Landmark posts resulting in its customers being
stranded for up to 12 Months. The Culletons ring Permanent Custodians Limited (PCL) for payout. PCL
fails to give payout and states it is not the Lender to Elite Grains Pty Ltd's loans.

July/ August 2010: An ANZ agribusiness manager comes down the farm driveway to introduce himself as
our new ANZ Agri business manager and stated that ANZ had purchased Elite Grains Pty Ltd's loans. He
stated that there will be no changes to the loans apart from signing ANZ new documents as a formality.

We requested from the ANZ a payout figure as Elite Grains Pty Ltd did not want to deal with the ANZ
bank.

23rd August 2010: ANZ Bank announce a public notice stating " ceasing to be a substantial holder of the
AWB Ltd" and withdraws 261 of its subsidiary companies who were all at that time listed as investors in
AWB.

10th September 2010: David Hiscoe was appointed as CEO of ANZ Bank New Zealand.

15 November 2010: ANZ Bank defaults Elite Grains Pty Ltd under engineered purported accounts by the
ANZ that are foreign to Elite Grains Pty Ltd ( ANZ Bank account nos 371708315 and 905462543).
The ANZ Bank goes on and further defaults Elite Grains Pty Ltd for non-activity of ANZ accounts and ANZ
accounts remaining stagnant.
To avoid the legal route and pacify the ANZ Bank, funds were realised and substantial monies paid to the
ANZ Bank in the vicinity of $750K.

June 2011: The ANZ bank approached Elite Grains Pty Ltd with new ANZ Bank loan documents ( letter of
offer) to be signed. We were told that if the papers were not signed that Elite Grains Pty Ltd would be
further defaulted and legal action would commence. The ANZ Bank's letter of offer contained a clause
requiring all present and future assets over the intellectual property and inventions including the full
patent rights of Australian Keg Co Pty Ltd. It also included a clause that the ANZ could give approx one
weeks notice and send an ANZ Bank only approved valuer to value the property. As a director of the
companies we refused these demands.
Between June 2011 until October 2012, the ANZ Bank and PCL were "unable " to state who was Elite
Grains Pty Ltd's lender nor a payout figure despite many meetings and requests.

August 2012: A "statement of claim" was filed by PCL against Elite Grains Pty Ltd and its guarantors, but
none of the parties were served. It was signed by Roland Davis of ANZ as authorised officer but he was
never, ever authorised.

September 2012: Mr Culleton informs the ANZ Bank that he will be in the UK on business, and when.
During this time documents were served on Elite Grains Pty Ltd's registered address in a plain unmarked

envelope described as ordinary mail. The envelope was forwarded to the farm via Australia Post.
Judgement was entered against Elite Grains whilst I was away for more than $4.6 million. The matter
was not listed in the court, it never went before a court. However judgement was entered with no
authorising signature.

4th October 2012: Default judgement was entered in favour of PCL. Without yet realising Elite Grains's
assets to ascertain if there was a shortfall, action was taken against the guarantors for the full amount.

2013: David Hisco won the Asian Banker CEO Leadership Achievement Award for NZ, successfully
leading the merger of the National Bank of NZ with ANZ. Mr David Hisco is the highest paid CEO banker
in NZ.

28th May 2013: The Culletons appeared in court as the second and third defendant before Register
Whitbread who refused the Culletons the opportunity to speak. Register Whitbread ordered that PCL
get possession of our property worth $10million and enabled them to sell it with an order that only
allowed 3 days to appeal. When we did proceed with an appeal, we were informed that this type of
order could not be appealed after 3 days, or set aside.
Register Whitbread put on the court record that we did not attend. Unusually, no transcripts were
available and we were informed there was no recording of that court hearing. Attempts were made to
appeal out of time but these were refused by Master Sanderson who ended by saying " ..appeal is
dismissed. Game, set and match."
Since then the WA Supreme Court has refused to allow any further applications quoting technicalities to
the initial action

In November, 2013, due to the aggressiveness and deceit of this purported financier, I, Rodney Culleton,
the Managing director of Elite Grains, made a contentious decision to allow the company to go into
liquidation, to enable an opportunity to address the court as a director and an officer of the company
and in my personal capacity. I was able to apply for and was granted leave to run the action against this
bank, to safeguard any damages or the risk of my company, Elite Grains, trading insolvent, due the
unconscionable treatment we had received from the bank. Creditors were contacted and informed of
the circumstances and the reasons for it. The circumstances were created directly by the actions of the
ANZ bank, including the timing of those actions. The largest creditor of Elite Grains and therefore the
one with the most to lose from these actions, was myself and my family. We have just recently received
a letter from the liquidators of Elite Grains, that he will be resigning as liquidator but that they have yet
been unable to have any creditor able to substantiate a valid claim. As a result, I am considering making

an application to the courts to regain control of that company.

As outlined in the chronology above the issue, unauthorised court orders are being used to sell up
Australian families. This is a major concern, not only in relation to our case, but also for the numerous
other bank clients, who have also lost their properties, homes and businesses, without due process.

The recent 60 Minutes expose has provided clear evidence of the alleged conduct which ANZ and its
agents have inflicted on us and other farming families. The courts will, in the near future, confer on this
evidence and hold those responsible, to account.

This program touched a nerve across the nation and the numerous calls, e-mails and contacts that we
are receiving, is a heart wrenching testament to the true extent and duration of this unconscionable and
unethical behaviour.

While it is encouraging to receive this support and demands for changes to our banking system, we ask
for people to be patient in awaiting a response, due to the enormous volume of correspondence
received.

As head of ANZ media relations, Stephen, you ought to be acutely aware that the most valuable
commodity for any bank or business, is still the people who you serve as customers. ANZ appears to
have lost sight of the responsibility and duty of care required by corporations, under common law. To
earn the trust of loyal customers requires first, a reason for that trust to be givenit cannot be
assumed or procured by force.

Yours sincerely,

Rodney and Ioanna Culleton

"Inquiries were made by ....60 Minutes producer for the ANZ Story that was aired in August this year
[2015]"

COALITION OF INTEGRITY TO TACKLE CORRUPTION