Del Monte Foods Confirms It is Exploring Strategic Alternatives for StarKist Seafood

2008-05-16 19:11:53 -

- In response to published reports, Del Monte Foods Company (NYSE: DLM) confirms that it is exploring strategic alternatives for the Company's seafood business, including a potential sale of the business.

In making this announcement, the Company advises that there can be no assurance that the exploration of strategic alternatives will result in a transaction and that the Board of Directors has not approved a transaction at this time. The Company does not intend to disclose developments with respect to the exploration of strategic alternatives unless and until its Board of Directors deems it appropriate.

About Del Monte Foods

Del Monte Foods is one of the country's largest and most well known producers, distributors and marketers of premium quality, branded food and pet products for the U.S. retail market, generating more than $3.4 billion in net sales in fiscal 2007. With a powerful portfolio of brands including Del Monte(R), StarKist(R), S&W(R), Contadina(R), College Inn(R), Meow Mix(R), Kibbles 'n Bits(R), 9Lives(R), Milk-Bone(R), Pup-Peroni(R), Meaty Bone(R), Snausages(R) and Pounce(R), Del Monte products are found in nine out of ten U.S. households. The Company also produces, distributes and markets private label food and pet products. For more information on Del Monte Foods Company (NYSE: DLM) visit the Company's website at www.delmonte.com.

Del Monte. Nourishing Families. Enriching Lives. Every Day.(TM)

Media:
Sard Verbinnen
Brandy Bergman or Robin Weinberg, 212-687-8080
or
Analyst/Investor:
Del Monte Foods
Jennifer Garrison or Katherine Husseini, 415-247-3382
investor.relations@delmonte.com