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Fresh Del Monte Acquires Expans, a Poland-Based Leading Produce Distributor

11.21.03

CORAL GABLES, Fla.--(BUSINESS WIRE)--Nov. 21, 2003--Fresh Del Monte Produce Inc. (NYSE:FDP), one of the world's largest producers and marketers of fresh and fresh-cut fruit and vegetables, today announced that it acquired Poland-based Expans Sp. z o.o. (Expans), a leading distributor of fresh fruit and vegetables. Expans, which markets a broad range of produce including bananas, citrus, tomatoes and grapes had sales of approximately US$110 million in 2002 through its distribution facilities across Poland. This cash acquisition builds on Fresh Del Monte's increasing strength in Europe and positions the Company for continued growth in the expanding Central European markets.

Fresh Del Monte's acquisition of Expans enables the Company to leverage the strong brand identity of Del Monte(R), to establish a strong foundation in Poland and the broader European region, and to export fresh vegetables from Poland to Fresh Del Monte's distribution facilities and fresh-cut operations in the United Kingdom and Northern Europe.

"Acquiring Expans represents a strategic move to position Del Monte(R) as a leading global brand in Poland before it joins the European Community in May 2004," said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer of Fresh Del Monte. "This acquisition also demonstrates our continued focus on diversifying Fresh Del Monte's operations geographically and expanding our presence in Europe. In Poland and other Central European markets, the growing consumer demand for fresh fruit and vegetables makes it a very exciting opportunity for the Company. Indeed, the transaction is consistent with our strategy to make opportunistic acquisitions that expand our leadership position on a global basis," added Mr. Abu-Ghazaleh.

Fresh Del Monte is a leading vertically integrated producer and marketer of high quality fresh produce. The Company's primary products include bananas, pineapples, melons, specialty melons, tomatoes, potatoes, strawberries, onions, grapes, citrus, apples, pears, peaches, plums and plantains. The Company markets its products worldwide under the Del Monte(R) brand, a symbol of product quality and reliability since 1892.

This press release contains certain forward-looking statements regarding the intents, beliefs or current expectations of the Company or its officers with respect to various matters. These forward-looking statements are based on information currently available to the Company and the Company assumes no obligation to update these statements. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The Company's actual results may differ materially from those in the forward-looking statements as a result of various important factors, including those described under the caption "Key Information - Risk Factors" in Fresh Del Monte Produce Inc.'s Form 20-F for the year ended December 27, 2002.

Note to the Editor: This release and other press releases are available on the Company's web site, http://www.freshdelmonte.com.

    CONTACT: Fresh Del Monte Produce Inc., Coral Gables
             Dana Weinstein, 305/520-8278

    SOURCE: Fresh Del Monte Produce Inc.
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