Quarterly report for the period 1 January - 30 September 2008 for FirstFarms A/S

Summary
The Board of Directors and the Management of FirstFarms A/S have
today reviewed and adopted the un-audited quarterly account for the
period 1 January - 30 September 2008.

Highlights
- In the accounting period, FirstFarms has achieved a turnover of DKK
41.1 million, an EBIT result of DKK -3.3 million and a pre-tax result
of DKK -0.8 million.  In Q3, the turnover  was DKK 13.9 million,  the
EBIT result DKK  -4.9 million  and the  pre-tax result  was DKK  -4.1
million.
- The underlying operation of field and milk production has under one
been satisfactorily and is  in 2008 estimated to  be DKK 2.2  million
better than expected.
-  In  Q3,  the  result  has  been  highly  influenced  by   external
circumstances because of considerable  drops in commodity prices  and
exchange rate adjustment in Slovakia where the currency has increased
considerably.
- The effect  of falling commodity  prices on corn,  oilseed and  raw
milk has caused a  profit decrease of DKK  9.1 million in the  period
and DKK 14.0 million in the result expectations for the year.
- The exchange  rate effect in  the accounts has  in total caused  an
equity increase of DKK 11.0 million, but results in increasing  costs
regarding salary and  depreciations with  DKK 1.1 million  in Q3  and
with DKK 2.2 million in the result expectations for the year.
- Consequently, FirstFarms scales  down the result expectations  with
DKK 13 million,  so that  a turnover of  DKK 72-78  million, an  EBIT
result of DKK -7.2 to -5.2 million  and a pre-tax result of DKK  -4.5
to -1.5 million is now expected.
- As a result of the increased business risks in Russia and  Ukraine,
FirstFarms has adjusted its investment criteria and is at the  moment
only investing in Slovakia and  Romania. The criteria of investing  a
maximum of 40 % of the shareholders' capital in a single country  are
therefore no longer in force.