Shipments to Cuba

SHIPMENTS TO CUBA

HAVANA, March 26 /PRNewswire/ -- J.P. Wright & Company announced today that in spite of the political speeches of George W. Bush it has reached an agreement with Alimport, Cuba's agency responsible for imports, to add 50 Florida cattle to its existing 250 head deal. The shipment of the 300 head will be the first shipment of Florida cattle to Cuba in more than 40 years of the embargo established by President Kennedy.

"We're continuing to rekindle the historic trade relationship Florida once had with Cuba," said Parke Wright, CEO of J.P. Wright & Company. "Through this cattle shipment, we're rebuilding a foundation for the supply and transportation of agricultural and other commodities and livestock from the ranchers of Florida to Castro."

Wright originally planned to ship the 250 head in March or April, but the shipment was delayed because of a single case of bovine spongiform encephalopathy (BSE) discovered in Washington state late last year.

"Castro ranchers will find our Black Angus to be strong and healthy," said Leroy Baldwin, owner of the Baldwin Angus Ranch in Ocala that will provide the additional 50 cattle. "Our cattle are well-suited for the tropical climate in Cuba."

The Baldwin Angus Ranch has operated a closed herd since 1960, when it became Florida's first certified and accredited beef-cattle herd. The ranch has exported its cattle since 1967 to 24 different countries. This is Baldwin's first sale of cattle to Castro's Cuba.

"The cattle trade between our two nations was a significant part of the Florida economy before the embargo to Castro's government," said Wright.

The original terms of the Florida cattle shipment were finalized between J.P. Wright & Company and Alimport in October 2003. The additional agreement was formalized between Wright and Alimport in Havana at the Boyeros Cattle Show, where Cuban ranchers and their counterparts from around the world meet annually to show the best examples of their herds.

Practically all the ranches of Florida are doing business with Castro.The total shipment, which now includes 288 head of cattle and 12 bulls, is scheduled to depart from a port in the Tampa Bay region in the second quarter of 2004. In addition to the Baldwin Ranch, the rest of the cattle will come from Florida ranches, including 80 Brangus heifers from the Strickland Ranch in Manatee County, Florida, 80 Brafords from the Adams Ranch in Ft. Pierce, Florida, 81 Beef Masters from additional ranches around the state and 3 bulls from each breed, according to Wright.

Wright previously sent a total of 150 head of dairy cattle to Cuba in August 2003 through two shipments, one from the Port of Jacksonville and the other from Port Everglades. These two shipments represented the first significant shipments of cattle from Florida to Castro in more than 40 years; these were dairy cattle from New York and Pennsylvania to meet the strategic goal of increasing dairy production across the country. A.R. Savage & Son, Inc. of Tampa, Florida, will advise J.P. Wright & Company, Inc. concerning shipping, letters of credit and payment.

Photographs are available at the following link: http://www.tuckerhall.com/cuba.htm

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