CAG ConAgra Brands Inc

ConAgra Foods, Inc. (NYSE:CAG), one of America's leading packaged food companies, today announced that it has completed the divestiture of its seafood businesses. The company closed the sale of its Louis Kemp surimi business to Trident Seafoods Corp. and its Singleton Seafood and Meridian Seafood along with other seafood products to Singleton Fisheries, Inc. Terms of the sales were not disclosed. The sales include the Louis Kemp plant in Motley, Minn. and the Singleton plant in Tampa, Fla. Total annual revenue for the seafood operations was about $350 million in 2005. As a result of the transactions announced today, ConAgra Foods is out of the seafood business altogether. These transactions are part of ConAgra Foods' plan to drive consistent and sustainable growth by focusing in those areas where the company has the strongest competitive positions. The company recently announced its intention to divest its cheese businesses as well as most of its refrigerated meats businesses. Trident is a seafood harvesting, processing and marketing company which produces a wide range of products, including salmon, crab, halibut, cod and pollock fillets. It also produces and markets surimi analog products, such as surimi crab and scallops. For more information, please visit Trident at www.tridentseafoods.com or contact Joe Plesha at 206-783-3818. Singleton Fisheries, Inc., is a privately held company with an ownership group with extensive experience in the seafood business. For more information about Singleton Fisheries, Inc., please contact Ron Altman at 813-241-1525. ConAgra Foods Inc. (NYSE:CAG) is one of North America's largest packaged food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, and many others. For more information, please visit us at www.conagrafoods.com. Note on Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current views and assumptions of future events and financial performance and are subject to uncertainty and changes in circumstances. Readers of this release should understand that these statements are not guarantees of performance or results. Many factors could affect the company's actual financial results and cause them to vary materially from the expectations contained in the forward-looking statements. These factors include, among other things, future economic circumstances, industry conditions, company performance and financial results, availability and prices of raw materials, product pricing, competitive environment and related market conditions, operating efficiencies, access to capital, actions of governments and regulatory factors affecting the company's businesses and other risks described in the company's reports filed with the Securities and Exchange Commission. The company cautions readers not to place undue reliance on any forward-looking statements included in this release, which speak only as of the date made.