Meat Industry INSIGHTS Newsletter

980717 Fletcher's Fine Foods Reaches Tentative Union Settlement

July 8, 1998

Vancouver, BC - Fletcher's Fine Foods Ltd. announced it has signed a Memorandum of Agreement with the UFCW Local 1118 negotiating committee, representing employees at its Red Deer, Alberta pork processing facility. The deal is subject to ratification by the union membership, and approval of the Company's Board of Directors.

The Company will not disclose any details of the agreement until such agreement is ratified by the UFCW membership.

Fletcher's has been engaged in the food processing business since 1917, and has operations throughout Western Canada and the Northwestern United States.

For further information contact:

Greg Whalley, Vice-President - Corporate Affairs or George Paleologou, Vice-President and Chief Financial Officer 604-668-5800

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