Letter of Transmittal

10 October 2005

Senator the Hon. Richard Colbeck
Parliamentary Secretary to the Minister for Agriculture, Fisheries and Forestry
Parliament House
CANBERRA ACT 2600

cc The Hon. Peter McGauran, MP
Minister for Agriculture, Fisheries and Forestry

Dear Senator

In accordance with section 9 of the Commonwealth Authorities and Companies Act 1997 and section 28 of the Primary Industries and Energy Research and Development Act 1989, I have pleasure in presenting the annual report of the Grains Research and Development Corporation for the year ended 30 June 2005.

The GRDC is confident that its performance in 2004-05 contributed to the industry's and the government's vision for a profitable, internationally competitive and ecologically sustainable Australian grains industry. This vision is consistent with the GRDC's responsibility to plan and report against the:

• objects in the Primary Industries and Energy Research and Development Act 1989
• planned outcomes as embodied in Driving Innovation, the corporation's Five Year Research and Development Plan 2002-07 and stated in the Annual Operational Plan 2004-05
• inputs and outputs and their contribution to the corporation's outcomes and outputs framework.

This annual report complies with the planning and reporting requirements prescribed by the Commonwealth Authorities and Companies Act 1997 (CAC Act). Under section 9 of the CAC Act, GRDC directors are responsible for producing an annual report in accordance with the rules laid down in Schedule 1 of this Act, including a 'Report of Operations' prepared in accordance with the Finance Minister's Orders.

The attached Report of Operations forms an integral component of the GRDC's outcome and outputs framework and was made in accordance with a resolution of the corporation's directors on 7 September 2005. In my opinion, this report presents fairly the information required by the Minister for Finance and Administration as set out in the Commonwealth Authorities and Companies (Report of Operations) Orders 2002, issued on 29 June 2005.

Yours sincerely

TERRY J ENRIGHT
Chairman

1st Floor, 40 Blackall Street, Barton ACT 2600. PO Box 5367, Kingston, ACT 2604 Australia
Telephone: (02) 6272 5525 Facsimile: (02) 6271 6430 Email: grdc@grdc.com.au