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Fresh Del Monte Produce Unveils a New Pineapple Variety Del Monte Honey Gold Pineapple

    CORAL GABLES, Fla.--(BUSINESS WIRE)--Oct. 15, 2003--

   New Pineapple Development Reflects Company's Category Leadership,
    Highlights Long-Range Commitment to Product Diversification and
      Showcases Innovative Research and Development Capabilities

Fresh Del Monte Produce Inc. (NYSE:FDP) today announced the development of an outstanding new pineapple variety, Del Monte Honey Gold(TM), also known as the MA2 (Patent Pending), an all-new variety that the Company expects to be available in fresh produce aisles by 2006. Fresh Del Monte developed this exciting, new and unique pineapple variety to capitalize on rising consumer demand for pineapples, to solidify the Company's leadership position in the increasingly competitive pineapple category, and to address increased interest by consumers eager to add a wider range of fresh fruit and vegetables to their daily diets.

"We are enthusiastically looking forward to introducing the new Del Monte Honey Gold(TM), a delicious pineapple that will be an immensely popular extension to Fresh Del Monte's ever-expanding product line," said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer. "Our development of this new variety reflects our Company's growing global industry leadership in the pineapple category, highlights our long-term strategic commitment to product line diversification, and showcases our exceptional, innovative research and development capabilities as well as the accomplishments of our scientific team."

The Del Monte Honey Gold(TM) pineapple, which was developed after five years of extensive research and product testing, has a smooth, distinctive bright yellow exterior; a refreshing, slightly sweet flavor; and an intense aroma. It also offers consumers a particularly long shelf life at room temperature. Mr. Abu-Ghazaleh added, "Consumers will quickly embrace this new pineapple variety, which combines outstanding taste with a long shelf life, providing consumers more reasons than ever to enjoy the unmatched taste of Fresh Del Monte Produce pineapples."

Fresh Del Monte Produce has earned a solid reputation over the last seven years as the most innovative fresh and fresh-cut produce company in the world. The Company's research and development scientific team is dedicated to finding the perfect balance of variety, great-taste and nutritional value that consumers seek.

The Company's new pineapple development reflects the high standard that Fresh Del Monte has set in the pineapple category, not just as the category leader, but also as the category founder. The Company officially introduced its flagship premium pineapple, Del Monte Gold(TM) Extra Sweet in 1996, with first shipments of the product starting as early as 1992. The official introduction in 1996 was the first new pineapple variety introduced in many years. Since then, the Del Monte Gold(TM) Extra Sweet pineapple has been praised by industry watchers and consumers as the "world's sweetest pineapple."

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,

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

    SOURCE: Fresh Del Monte Produce Inc.
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