020934 ConAgra Completes Sale of Beef/Pork Business

Omaha, NE - ConAgra Foods, Inc. completed the previously announced sale of its fresh beef and pork operations in a book value transaction to a venture led by Hicks, Muse, Tate & Furst Inc. and Booth Creek Management, Inc. Funds were transferred and ownership documents exchanged in a New York.

Bruce Rohde, chairman and chief executive officer of ConAgra Foods, commented, "This divestiture reflects our long-term strategic resolve to focus on branded and value-added food products. We have great respect and admiration for John Simons, Dennis Henley and the team they have built at Swift & Company. We look forward to maintaining a strong business relationship with Swift & Company as an important supplier to ConAgra Foods."

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